Navy Dads

Quick question here. My son heads RTC in June. We currently bank with Wells Fargo. I've heard some chatter about Navy Federal Credit Union and USAA. I am familiar with USAA but not NFCU. Are there any benefits to getting him set up with either one of these instead of WF before he leaves? Does it really matter who he banks with in the Navy? Any thoughts or previous experiences would be appreciated. Thanks!

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I'd ask his recruiter which would work best for your son in terms of access to cash/ATM and 0 fees for withdrawals. I gather you can also contact NFCU directly

Also the NFCU caters to the military. Low interest rates on vehicle, low mortgages, a lot of benefits for them. His pay is also direct deposit and it will save a lot of extra work on the part of the pay master. Generally getting cash from any ATM is free of fees for NFCU members. 

It's highly advisable.

Thank you gentlemen!

My husband has been with NFCU since 1977.  They have ATMs on most bases, are easy to work with, and have great rates.  We use them primarily for online banking, and it is a good set up.  They also pay one business day before payday, and guarantee pay in case of "government shut down".  Local banking is not responsive to the needs of a deployed sailor, but NFCU understands.  Once he joins, you can join too.  I highly recommend them as a member myself.

Our son went in last August.  He has both BofA and Navy Federal accounts.  If he did not have some bills automatically coming out of his BofA account NFCU would be all that he would need.  Even though interest rates at all banks are pretty bad, NFCU has some of the highest rates out there.  So we too have NFCU accounts.  Our son is getting his car insurance from USAA.

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