Welcome to Navy Federal (2024)

FAQs

Is it easy to get approved for Navy Federal? ›

The Navy Federal credit card approval requirements include a credit score of at least 700 (good credit), in most cases. You might be able to get other Navy Federal Credit Union credit cards with bad credit.

Navy Federal Credit Union may approve you for a personal loan the same day you apply or within 3 - 10 business days, depending on how quickly NFCU can verify your information. After your application is approved, you may receive your funds by electronic bank transfer as soon as the same day you accept the offer.

Good news. If you're a servicemember, veteran of any branch of the armed forces or a Department of Defense employee, then you're eligible to join. Your immediate family and household members are also eligible. To join, apply online, stop by a branch to apply in person, or give us a call.

No. A joint owner shares access to your account but isn't necessarily a member of Navy Federal. To become a member, you or one of your family or household members must have ties to the armed forces, DoD or National Guard.

Navy Federal Credit Union has no minimum credit score requirement for its personal loans, unlike most personal loan providers.

A new analysis from CNN found Navy Federal Credit Union, the largest credit union in the US serving military service members and veterans, denied more than half of its Black conventional mortgage applicants.

Navy Federal Credit Union may verify income by requesting financial information like pay stubs, bank statements, or W-2 forms. In other cases, they'll just use credit report information.

Find Out if You're Eligible. So you're thinking of joining Navy Federal Credit Union? Good news. If you're a servicemember, veteran of any branch of the armed forces or a Department of Defense employee, then you're eligible to join.

Is it hard to get a personal loan from Navy Federal? NFCU's membership eligibility requirements make it so that only a small portion of U.S. consumers can apply for a loan.

Our FreshStart Checking is a second chance account for those who may have a record of accounts in unfavorable standing with other financial institutions. Mistakes are made but should never define who we are.

Can I get Navy Federal if I'm not in the military? ›

Membership Eligibility

Our field of membership goes beyond current and retired members of the armed forces to include their families and household members, Department of Defense personnel and more.

Navy Federal pays a higher interest rate on savings than USAA, and it has more checking account options. As for CDs, the best choice between the two institutions will depend on which term length you want.

NFCU's membership eligibility requirements make it so that only a small portion of U.S. consumers can apply for a loan. If you're eligible to be a member, though, you might be able to get approved even if you have a limited credit history, though you could need a co-applicant.

CNN only analyzed loan applications that were ultimately approved or denied by lenders, not those that were withdrawn by borrowers before a decision was made. In 2022, according to the data, Navy Federal approved 77.1% of White applicants, 55.8% of Latino applicants, and 48.5% of Black applicants.

Navy Federal will then use your information to run a soft credit pull with the credit bureaus and verify your identity. A soft inquiry does not affect your credit score and a pre-qualification can be a good way to gauge your odds of being approved.

Credit scores help lenders decide whether to grant you credit. The average credit score in the United States is 705, based on VantageScore^® data from March 2024.