is the nation’s largest credit union and has recently surpassed $100 billion in assets as reported by . I can understand their growth, as many of their financial products have very competitive rates, including certificates of deposit specials and mortgage rates. If the , I would definitely compare their rates against the major rate quote sites like , especially if you are looking for a jumbo loan or other non-standard mortgage type.
You can now join Navy Federal without serving in the military. It is true that until 2017, it was hard to become a member of Navy Federal unless you were active military, Department of Defense worker, or a military retiree. Even honorably discharged veterans couldn’t join! However, the current membership rules are more open. Here is their .
If you have ever served in the military, you are now eligible to join. This includes:
- Active Duty Army, Marine Corps, Navy, Air Force or Coast Guard
- Army or Air National Guard
- Delayed Entry Program
- Officer Candidate / ROTC
- Reservist
- Veteran, Retiree or Annuitant
Beyond that, if one of your immediate family members serves or has EVER served in the military, you are also eligible for membership. Immediate family members include:
- Parents and grandparents
- Children and grandchildren
- Siblings and spouses
This applies even if they are not a NavyFed member themselves. You may need some form of identifying document that shows your family member’s military relationship. Call NavyFed at 1-888-842-6328 and they should be happy to assist you.
This change greatly opens their field of membership, which I am sure has contributed to their impressive growth in assets. We have never served, but we do have both past and current family members in the military.
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