How to Get a Navy Federal Account Without Being Military?
As one of the largest credit unions in the United States, Navy Federal Credit Union offers a range of financial products and services to its members. While the name "Navy Federal" might suggest that membership is limited to military personnel, this is not the case. In this article, we’ll explore the various ways to join Navy Federal Credit Union without being military.
Who is Eligible for Navy Federal Membership?
Before we dive into the ways to join Navy Federal, let’s first understand who is eligible for membership. Navy Federal Credit Union is a not-for-profit financial cooperative that offers membership to:
- Military personnel, including active-duty, reserve, and retired members of the Navy, Marine Corps, Army, Air Force, Coast Guard, and Space Force.
- Department of Defense (DoD) employees.
- Department of Veterans Affairs (VA) employees.
- Certain government contractors and subcontractors.
- Affiliates of Navy Federal Credit Union, such as spouses, children, and other family members.
But what about those who don’t fit into these categories? Don’t worry; there are still ways to join Navy Federal Credit Union without being military.
Ways to Join Navy Federal Credit Union Without Being Military
Here are the various ways to join Navy Federal Credit Union without being military:
- Associate Membership: Navy Federal Credit Union offers associate membership to individuals who are affiliated with a Navy Federal Credit Union member. This includes spouses, children, and other family members of current members.
- Community-Chartered Membership: Navy Federal Credit Union is a community-chartered credit union, which means that anyone who lives, works, worships, or attends school in a specific area can join. The area covered by Navy Federal Credit Union’s community charter is quite large, so there’s a good chance that you might be eligible to join.
How to Join Navy Federal Credit Union Without Being Military
To join Navy Federal Credit Union without being military, you’ll need to follow these steps:
- Check your eligibility: Check if you’re eligible to join Navy Federal Credit Union through associate membership or community-chartered membership. You can do this by visiting the Navy Federal Credit Union website and using their "Am I Eligible" tool.
- Gather required documents: Depending on your eligibility path, you may need to provide certain documents to support your membership application. These might include proof of employment, residence, or relationship to a current Navy Federal Credit Union member.
- Apply for membership: Once you’ve gathered the required documents, you can apply for membership online or in person at a Navy Federal Credit Union branch.
- Wait for approval: Navy Federal Credit Union will review your application and verify your eligibility. You’ll receive a decision in writing, usually within 7-10 business days.
Benefits of Joining Navy Federal Credit Union
So why should you join Navy Federal Credit Union even if you’re not military? Here are some benefits to consider:
- Competitive rates: Navy Federal Credit Union offers competitive rates on loans, credit cards, and deposit accounts.
- Low fees: Navy Federal Credit Union has low or no fees for many of its services, including account maintenance and ATM usage.
- Convenient banking: Navy Federal Credit Union offers online and mobile banking, as well as a large network of branches and ATMs.
- Membership rewards: Navy Federal Credit Union members can earn rewards points for using their credit cards and debit cards.
- Financial education: Navy Federal Credit Union offers financial education resources and counseling to help members achieve their financial goals.
Comparison of Navy Federal Credit Union with Other Credit Unions
If you’re considering joining Navy Federal Credit Union, you might be wondering how it compares to other credit unions. Here’s a comparison table to help you decide:
| Feature | Navy Federal Credit Union | Other Credit Unions |
|---|---|---|
| Membership requirements | Community-chartered and associate membership | Varies by credit union |
| Interest rates | Competitive rates | Varies by credit union |
| Fees | Low or no fees | Varies by credit union |
| Branch and ATM network | Large network | Smaller network |
| Online and mobile banking | Available | Available |
| Financial education | Offers financial education resources | May not offer |
| Membership rewards | Offers rewards points | May not offer |
As you can see, Navy Federal Credit Union offers many benefits that are similar to other credit unions. However, its large network of branches and ATMs, as well as its competitive interest rates and low fees, make it a great choice for those looking for a reliable and convenient banking option.
Conclusion
While Navy Federal Credit Union may seem like a credit union only for military personnel, this is not the case. Through associate membership and community-chartered membership, individuals who are not military can still join Navy Federal Credit Union. With its competitive rates, low fees, convenient banking options, and financial education resources, Navy Federal Credit Union is a great choice for anyone looking for a reliable and trustworthy banking partner.
