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Navy Federal Rewards: Everything You Need to Know

For an active duty or retired military service member, life is different in ways that a civilian will just never understand. You give your all and make a commitment to something larger than yourself and, in many cases, service members give their lives for their country. It is because of the depth of the sacrifice that military personnel experience that we owe them a debt of gratitude.

This is part of the reason that there are so many military-specific programs, rewards credit cards, gift cards, discounts, cash advances, balance transfer fees, sign-up bonuses, and more. These small tokens of appreciation cannot begin to pay them back for their service, but they can help to make a service member’s life fuller, easier, and more rewarding.

There are even financial institutions, such as Navy Federal Credit Union , that are dedicated specifically to providing a wide range of financial service to military members and their family. There are tons of different perks associated with being a member of an institution like this, which is why so many military members and their families look to these institutions for their banking needs.

In order to qualify for an account and other services from Navy Federal Credit Union, you must be an active duty member of the Army, Marines, Navy, Air Force, Army and Air National Guard, the Delayed Entry Program, DoD Officer Candidate/ROTC, DoD Reservist, or a veteran, retiree, or annuitant. Additionally, certain civilian members who work for the Department of Defense, as well as the family members of anyone listed here, are eligible to become members of Navy Federal Credit Union.

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At Navy Federal Credit Union, you have access to the whole range of financial services from banking, retirement planning, investments, insurance, and more. All the staff of the Navy Federal Credit Union are stateside and available 24/7 to answer any questions and to provide whatever assistance their members need.

With this credit union, you have access to incredible service, excellent benefits, a variety of rewards, as well as reasonable terms and rates on loans. They boast tons of ways to bank from online banking to the countless ATMs they have available to members of their network.

As a member of Navy Federal Credit Union, there is a wide range of specialized services that are designed to help you better manage your finances and meet your financial goals. There is also a range of different rewards programs that are unique to Navy Federal Credit Union, making them an even more attractive option for financial services to active and former military members.

One of the incredibly popular rewards programs is what is called an auto loan refinance. If, for example, you are a member of the credit union and you have a loan that you took out with a different financial institution, you can easily refinance the loan through Navy Federal Credit Union, bringing your loan under there more favorable terms. An additional perk of refinancing is that you get a $200 bonus for taking part in the program—that’s literally free money.

Another set of rewards offered through Navy Federal Credit Union are related to mortgages. The first mortgage-related program is what is called RealtyPlus. This is a real estate assistance program that helps potential homeowners or sellers at every step of the way, providing them valuable information not offered at other financial institutions. You can even earn over $5,000 cash back if you work with an approved realtor.

At Navy Federal Credit Union, you can also take advantage of what is called a First-Time Homebuyer package. This is an incentive-laden package that gives first-time homebuyers a ton of perks that they won’t find other places. With this program, you are not required to make a down payment and you will also get free real estate assistance through the RealtyPlus Program.

On many of their loans, you many also not have to obtain private mortgage insurance. These savings alone can add up to hundreds of dollars of savings each month. There is also a Free Flat Rate Float/Lock option, which makes it easy to lock in a favorable interest rate while also giving you the option of taking a lower rate at the time of closing if the rates dropped in the interim time period.

Additionally, they offer a rate match, which means if you find a better rate on a mortgage elsewhere, Navy Federal Credit Union will match it or give you $1000.

Additionally, there is a range of ways that Navy Federal Union can not only help you save for retirement or some other financial goal but that they will reward you for as well. They offer a special 2.75% APY special IRA Certificate that can be opened with as little as $50. The certificate allows you to contribute up to $250,000 during the course of 32 months, allowing you to really jumpstart your savings.

In addition to the rewards you get through Navy Federal Credit Union, being a member of the credit union actually gives you access to savings and discounts elsewhere as well. Every Time you use your Visa card, you will receive offers for discounts and rewards. There is also an Auto Buying Program that provides exclusive discounts and offers for Navy Federal Credit Union members.

As a member, you can also save on car rentals from Hertz Rental Car and Enterprise Rental Car.

With all of these rewards and perks, it is no wonder that so many active duty and retired military personnel and their families bank at institutions like Navy Federal Credit Union. With places like this, military members and their families get access to the various financial services they need, as well as loans and savings accounts with incredibly favorable rates. There is even a wide range of rewards programs that actually incentivize you for making efforts to save more money. These rewards can literally end up meaning free money in your bank account, so it definitely makes sense to take advantage of all the rewards you can to maximize the amount you’ll save and earn by being a member of Navy Federal Credit Union.

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