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Old 05-16-2011, 07:04 PM
 
226 posts, read 506,677 times
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Are there any local credit unions with relatively open memberships? I'd love to join the State Employees Credit Union but don't meet their eligibility requirements.

My employer doesn't offer anything in the way of banking benefits (heck, we don't even have direct deposit).

Is there anything comparable?
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Old 05-16-2011, 07:07 PM
 
Location: My House
34,938 posts, read 36,220,998 times
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Coastal Federal?
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Old 05-16-2011, 08:07 PM
 
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Quote:
Originally Posted by meh_whatever View Post
Coastal Federal?
+1 I use em.
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Old 05-16-2011, 08:20 PM
 
Location: Cary, NC
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Also agree with Coastal Federal.
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Old 05-16-2011, 09:01 PM
 
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Thinking about Coastal Federal for a loan -- how fast of a turnaround do they have for mortgages?
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Old 05-16-2011, 09:12 PM
 
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Coastal Federal, RTP Federal Credit Union and if you are willing to transact with an online entity, I highly recommend Pentagon Federal Credit Union who have great rates on auto loans (2.49%) and a great 5/5 ARM mortgage program (3.5%) with no closing costs.
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Old 05-16-2011, 09:22 PM
 
Location: My House
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I also recommend Navy Federal, if you can get in.

100% mortgage financing up to 650k.
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Old 05-17-2011, 10:34 AM
 
Location: Raleigh, NC
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Coastal FCU and RTP FCU both have loopholes so that anyone can join.
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Old 05-17-2011, 10:50 AM
 
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Quote:
Originally Posted by meh_whatever View Post
I also recommend Navy Federal, if you can get in.

100% mortgage financing up to 650k.
I like them as well, we just got in on the USA Federal Credit Union loophole last fall. The origination and funding fees on the 100% financing products have scared me away, but with the right seller concession, they make a lot of sense. Auto loans from 1.99% too.
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Old 05-17-2011, 11:06 AM
 
Location: My House
34,938 posts, read 36,220,998 times
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Quote:
Originally Posted by cheapdad00 View Post
I like them as well, we just got in on the USA Federal Credit Union loophole last fall. The origination and funding fees on the 100% financing products have scared me away, but with the right seller concession, they make a lot of sense. Auto loans from 1.99% too.

Hey! So did we! Well, we actually got in around that time last year, but it was through a membership elsewhere.

I look at that clever funding fee as a downpayment that you can roll into the mortgage if you get the right price on a house.

And the seller concessions are nice. Let's you keep more money in your pocket for things like taking care of the house and paying bills if you ever find yourself unemployed, etc.

Makes more sense than tossing a bunch of money into a downpayment and then having your house drop in value so you cannot take out a HELOC for major home repairs. Or if you have to move and have no cash to pay your way outta the house to sell it without a short sale.

We almost used an auto loan with them to buy the Volt we leased, but leasing seemed wiser due to the new tech involved with a plug-in hybrid. We will definitely use them if, at the end of our lease, the newer Volts haven't made drastic improvements and we wind up buying the car.

Hey... did you know that Navy Fed has the lowest foreclosure rate in the country?

Neato, eh?
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