Is Navy Federal Credit Union Racist? A Closer Look
Рет қаралды 8,936
Күн бұрынToday we are going to cover some HOT news that came out about NFCU mortage approval rates according to CNN. Lets unpack this story to see if NFCU is actually racially discriminating against minorities.
CNN Video: • Black CEO says he was ...
CNN Article: www.cnn.com/2023/12/14/busine...
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@NaamWynn 7 ай бұрын
CNN Video: kzfaq.info/get/bejne/fZiIl9Nltpimoac.htmlsi=TcATRbVs71NhgE2h CNN Article: www.cnn.com/2023/12/14/business/navy-federal-credit-union-black-applicants-invs/index.html
@zerotomillions1016 6 ай бұрын
You guys are going to cause Navy Fed to issue KZfaq a cease and desist notice. Then, to protect their bottom line, KZfaq will simply take down ALL of you guy's channels that have been doing Navy Fed stories. That action will apply specially to the ones that have been doing videos on the Navy Fed "hack" or "the play". You guy's actions on KZfaq is PART of the reason they have had to deny so many Black and Hispanic people's loan applications. People with bad, low, or no credit history can't survive the intense scrutiny of the mortgage underwriting process because of their credit HISTORY. Yes, they may have a high score NOW and a huge down payment. However, their credit history can cause them to be unqualified for a conventional loan. Navy Fed only offers 2 types of mortgage loans: conventional and VA. If you are not a military veteran, you can't get a VA loan. And it you can't qualify for a conventional loan, it would be better to go to a bank that offer FHA loans. That is what the man featured in the CNN story did which is why he was approved there. In case you didn't know, the major banks are planting misinformation stories about Navy Fed. Bank of America lost its multi-Billion dollar contract to provide service on military bases world-wide. The major banks thought they would get to compete to replace B of A, but Navy Fed go the contract. Now, the major banks are on a (Trump style) misinformation campaign to "smear" Navy Fed with allegations of discrimination hoping the pentagon will resend their contract. I suggest that you KZfaq content creators stay clear of this heavyweight battle or, as usual, the little guys will be the ones to get hurt. If you walk into the middle of a knife fight being unaware the the fight is happening, you could get your throat cut.
@Salsero81889 7 ай бұрын
You know, even tho this wasn’t dealing with a mortgage, it was her student loan, I did find it interesting that my wife got denied for a refinance. She never missed a payment and had a 804 credit score. When I asked why they denied her, all I got was ambiguous answers. Racism is the only thing that makes sense.
@dickgrayson4325 6 ай бұрын
Of only racism makes sense because you are a victim.
@doretheafox3771 3 ай бұрын
I ask for a low loan my credit score 701.They did me the same way.
@montfromphilly 7 ай бұрын
These conversations are so exhausting. It doesn't matter how many studies, research, testimonials, or evidence that's presented, it will always be a "justification" of why it's really not racism or discrimination. Even if we had all the information about debt and credit scores for everyone, the goal post would just move to something else to "justify" the discrimination. *sigh*
@rwhitaker 7 ай бұрын
Unfortunately though I love the channel, he’s off on this one. A deeper dive where black borrowers provide entire buyer profiles (credit scores, wage earners (no self employment issues), well over years at job & 1% in debt) and STILL get denied proves the disparity exists.. Especially if/when the borrower’s name and/or accent clearly identifies their ethnicity.. I’ve trained 1,000’s of underwriters nationally and EVERY loan still involves an individual judgment which leaves allows bias..
@barbthompson1628 7 ай бұрын
@@rwhitaker i think he was spot on all he layed out was facts, me as a self emplyed its different getting a mortage. Just like when applying for a credit card citibank (which is hard toget) may deny you while capital one ( easy toget) may approve you. yes us black people do face descrimination but everything is not racial its just numbers game. when you do ur homework n know which company requirements then you working ahead of the game. its countless videos on tubetube on whatever you wnat to apply for and what they are looking for.
@blaqken7726 7 ай бұрын
It’s literally exhausting. Thank god for the internet so we have proof. Even if it doesn’t matter 😂😂
@Ned_Slanders 6 ай бұрын
That’s what racism is. They have to use any and every method possible to maintain privilege and their systems of oppression
@6140LIBRA 6 ай бұрын
If Blacks would just stop applying in months that have more than 26 days in them everything would be fine.🙄
@phillynurse9492 7 ай бұрын
Nam I respect you and appreciate you doing the research but it's nothing new with these financial institutions. There's too much competition in the market for AA to put up with their nonsense. We know what time it is and know what to do.
@SkyToddler 7 ай бұрын
good on you for not shying away from this topic
@mzhappyfree7688 6 ай бұрын
I agree… still think he is way off but love when folks speak up
@joelvasquez4653 7 ай бұрын
It's about time, they get put on blast, they've denied me as well, I'm Hispanic, I had 798 credit score, DTI was under 30%, Equity in my property, tenants contract showing cash flow, W-2s, and LES. I still got denied. NFCU mortgage department is the worst.
@NeoSoulCrew 7 ай бұрын
Should have clicked the white race box. Sarcasm
@paulsharp7857 7 ай бұрын
@@NeoSoulCrewNO, you're 100% correct as what hispanics/latinos do... This was based off of FBA ppl investigating the damned if you don't damned if you situation, when it comes to taking care of business... The point is, racism and also discrimination based off skin color, "DOES FKN EXIST" latinos/hispanics can switch up real quick. Not to mention their culture has a history of "LA RAZA"=Bettering the race and whitening up the ethnic group... So, don't try to say yup ME TOO, when all of you have other countries to live and benefit from vs FBA ppl, that you all also play both sides of the coin on... Miss me with that BS
@joelvasquez4653 5 ай бұрын
@@NeoSoulCrew you ain't lying
@christineallen450 3 ай бұрын
Wow😮
@pughbear9145 7 ай бұрын
He said he had a $100.000 for the down payment that’s a lot more than 20% of the purchase. Naam don’t sugar coat it.
@NaamWynn 7 ай бұрын
So having more than 20% down makes you eligible for any loan? There are way more factors that go into underwriting than just that. There are people you are cash heavy but can’t loans because they don’t have a credit profile. He moved on to a better lender and got a better rate so I don’t see the issue. Banks and CU make money by lending it out. Why wouldn’t NFCU want to make money?
@cchoice4919 7 ай бұрын
this guy is being paid by Navy federal...look at his post!...trying to white wash their actions!!...people can see straight through his BS....video after video about navy federal is so great this, so great that!!..come on you aint SLICK boy!!
@Weshoppingforless 7 ай бұрын
No relationship self employed big risk navy fed is not the only credit union lol
@theonetrader44 7 ай бұрын
@@NaamWynn You are making excuses!
@barbthompson1628 7 ай бұрын
@@theonetrader44 he's not making excuses its just the truth. we all wish banks had a rubber stamp to approve people but the truth is different banks have diff criteria thats why we have sooooo many different lending institutions. Its just like shopping for a car when they run ur credit you get like 5-10 hits on ur credit each hit is a diff bank when one dont approve it moves to the next until they get an approval.
@williamwashingtonii130 7 ай бұрын
You must know that Navy Federal has a higher than percentage of Black customers. So that the percent of loans going to Black applicants is in line with the percentage it's customer base. So that is nothing special. Yet the subject in question got financing from another lender in just under two weeks. He already had a relationship with Navy Federal.
@c.w.3061 7 ай бұрын
I was really disheartened to hear that report...smh. I've been with NFCU for a few years now, but I'm glad that I just joined Pentagon Federal and another credit union in my local community, as I don't want to put all my eggs in the same basket. Hopefully, when I'm ready to purchase a home, I won't be discriminated against. Unfortunately, there is a loooong documented history of structural racism (Redlining) against black people when it comes to mortgages, and just overall access to housing. You would think we would be past this point by now, especially here in the 21st century.....but yet, here we are, still.
@meep9873 7 ай бұрын
One of the most important factors for mortgage approval is credit score. As of 2023, the median credit score for black Americans is 627 while white Americans is 727. Based off of this stat alone, of course there will be higher approval ratings for white Americans. CNN conveniently left this out for their race pandering. It’s not discrimination, it’s just the nature of lending
@c.w.3061 7 ай бұрын
@@meep9873 I'm definitely going to be finding out which lenders are on the up and up, and which ones are not....as all of my scores are over 800. You wouldn't think I would need to worry about such a thing, but I am going to be documenting the process the whole way through for clarity and for evidence if needed.
@communingwithGod 7 ай бұрын
@@meep9873I'm African and my credit score is way higher than 627, not all Africans have low credit scores as I work for a bank.
@bauttiet.h.u.g.5900 7 ай бұрын
Ppl typically mention redlining when speaking of systemic racism but it usually doesn't apply to current day situations. Work on the criterias for approval and you'll be fine.
@pughbear9145 7 ай бұрын
You conveniently left out that his credit score was over 700. Next excuse.@@meep9873
@rickhunter7257 4 ай бұрын
Let me add their archaic business practices to the equation, NFCU will flag you for something that happenned over 25 years ago. They denied my loan application, but still wanted to assist with my home insurance needs, let that sink in.
@consult_Naamwynn-outlook-com 4 ай бұрын
I'm available for Qs via my above address
@dallascowboys-1214 5 ай бұрын
They should totally shut them down. NOT SURPRISED !
@beardedbandittheroadwarrio5066 7 ай бұрын
Totally believe it. I've been a member for over 10 years. On my birthday 2 years ago they banned me indefinitely on an error that they made.
@NaamWynn 7 ай бұрын
Dang sorry to hear that. It’s even worst that’s it’s their fault. Do you think it was due to race though? Many other banks and credit unions do something that ruins the relationship
@bauttiet.h.u.g.5900 7 ай бұрын
Wow, what was the error?
@beardedbandittheroadwarrio5066 7 ай бұрын
@@bauttiet.h.u.g.5900 I deposited a check from my phone. Check cleared 100% a few days later. So transferred funds to pay my credit card. Made a $600 payment. They transferred $6000 instead. Credit card refused to refund the difference. Navy Fed accused ME of FRAUD for trying to fight for my refund.
@NeoSoulCrew 7 ай бұрын
I forgot about the race box when putting in my credit application. Sarcasm...
@kimberleywatson7330 7 ай бұрын
Yup they denied Me a loan and I was treated like don't bother applying there's nothing you can do we do not want your business and I left🤷🏿♀️
@tangotea7192 6 ай бұрын
Sorry...hope you are not banking with them. They are making money with your money. Withdraw funds and leave.
@comm2531 6 ай бұрын
And so what? We don't know your story. I know mine.
@kimberleywatson7330 6 ай бұрын
@@tangotea7192 I did
@elizabethgerena3143 7 ай бұрын
Great explanation, I have not experienced any issue with Navy Federal but you should look into multiple lenders for best options. I hope to own home in near future.
@joelvasquez4653 7 ай бұрын
But what gave NFCU away was that they gave him a pre-approval, yes it doesn't mean he will get approved but when he went to another bank, with the same facts he got approved and closed on a home in two weeks
@barbthompson1628 7 ай бұрын
@@joelvasquez4653 preapprovals are not gaurentees, ive dont preapproval credit cards then once i hit accept it denied me. you move around. preapprovals are from algo's
@Ned_Slanders 6 ай бұрын
Here is one of our Asian “allies” showing us what we get for kicking open the door for immigrant rights.
@doretheafox3771 3 ай бұрын
Credit score 701 and I have income. I applied for a small loan. NFCU denied me. I feel like it's because I'm black. I've been banking with them over 10 years.
@thecoloradotravelers7212 7 ай бұрын
Thank you for taking the time doing your own research and providing a logical thought provoking video on this topic. You are the first person in the financial niche on this topic to accomplish this. So many people are so willing to jump to a conclusion without having any facts or doing their homework just to make a video on a trending topic with nothing of value to offer.
@NaamWynn 7 ай бұрын
🙏🏽
@susanq7870 7 ай бұрын
I work there it IS racist greed toxicity
@coolbreeze2.0-mortemadfasc13 6 ай бұрын
lol Oh please. Navy Federal can explain the difference without addressing specific member accounts or profiles. Racial bias doesn’t go away just because you ignore it.
@thecoloradotravelers7212 6 ай бұрын
@@coolbreeze2.0-mortemadfasc13 how? Without giving all the details of this specific applicant? Bigger question, how can one assume racial inequalities without applicant disclosing all their information. It’s an incomplete picture. Jumping to conclusions is just sheer ignorance. It just shows how much people really know about credit lending practices. J/s 🤷🏽♂️ oh btw, I do agree with you. You’re right racial biases doesn’t go away because you ignore it. Same way racial biases aren’t present just because you don’t have all the facts or are uneducated on the topic at hand.🤷🏽♂️
@n.manasseh8615 6 ай бұрын
First of all Thank You For Your Service!!! Also I wanted to ask if maybe looking at VA Loans as opposed to Conventional Loans would give better insight into the lending practices of a credit union such Navy Federal whose primary goal is to service the Military and Veterans? I noticed that the CNN data is derived from Conventional Home Loans. Of course all discrimination is wrong but in the case of Navy Federal, if it can be shown that they are discrimination against Military Members and Veterans then that would be unacceptable. DOD and the Feds should close them down if that's the case.
@sheilam9141 6 ай бұрын
Navy Federal services exclusively vets, govt employees and their families. They were discriminating against vets. Many vets have conventional loans.
@n.manasseh8615 6 ай бұрын
@@sheilam9141 So was that guy in the video a Vet??? because no one referenced his military service which is very unusual and no one even gave him the customary “Thank You for Your Service”.
@JazzyMarineVet 7 ай бұрын
Black female Marine vet, opened NFCU 1990s in okinawa. I trashed my credit twice in my life, got into check cashing places and navy fed helped me. They closed my checking but let me keep my savings for direct deposit. Since then I've had two mortgages, several cars, personal loans, Flagship 30K and More Rewards 25K Back in the day most of my crew spent money like crazy of frivious crap: fancy cars, clothes, clubs and beauty stuff. Always broke before payday. While our white counterparts were driving hoopties, working a second job and eating in the chow hall. They were playing the long game and 30 years later they are reaping the rewards of their responsible choices. Within our community, WE KNOW how we do!!
@JavaughnJPorter 7 ай бұрын
Thanks for this it’s helpful
@carrybigspeaksoft1758 7 ай бұрын
You have a white face as your pic and this story should be taken as for real lmao ok
@IAmHisBeloved5 7 ай бұрын
@@carrybigspeaksoft1758I was coming to comment the same thing. Don’t look black to me.
@dickgrayson4325 6 ай бұрын
Good job. Way to take accountability and responsibility. Do'nt worry about the BCOMMUNITY they will start the name calling. Such as raccoon and UT.
@horsemen601 7 ай бұрын
spot on!!! these are some of they points i made on another video bout this
@NaamWynn 7 ай бұрын
Awesome!
@damajewels3606 7 ай бұрын
He already had a pre-approval…….so it should have been honored !
@ArmaDino22 7 ай бұрын
I had my pre approval with 3 separate banks, all of which denied me. It happens and it's part of this industry. There us a reason it's called pre-approval as opposed to Approved
@One-andOnly 6 ай бұрын
Leran how mortgages work before talking
@remarqablerealestate-guide8916 7 ай бұрын
Another factor that should be considered is the price of the house..
@clmorgan7 6 ай бұрын
Plus, he had a $100K for deposit
@vencap11 6 ай бұрын
Doesn't matter what he had or didn't have, he got approved two weeks later by a different bank, so go figure.😎
@mj1s735 7 ай бұрын
You brought up a lot of good points and explained away a lot of things. Even blamed that AI could be the problem? But who programs AI? I just joined NFCU and I am pissed after seeing the CNN article. I will ask my congressmen to look into this. Hopefully it is a nothing burger? But systemic racism is real! Lastly one thing I can 100% agree on is I have had several VA mortage loans and no credit union could touch the rates that a mortage broker was able to get for me from coparate mortgage money leaders!
@dantesinfernopurgatory7826 7 ай бұрын
If you have expensive items which are priced beyond your means (vehicles, electronics, clothes, jewelry, etc.), chances are your loan application will be rejected because you are over-leveraged (too many financial obligations) in relation to your income. Common sense.
@BlackandProud350 7 ай бұрын
I'm shocked.
@hermanshim8948 6 ай бұрын
Didnt he have a credit score of 700?
@user-ug3rz6nc3u 7 ай бұрын
Am putting America Heritage on Blast for similar behavior as well !!
@cchoice4919 7 ай бұрын
I BET NAAM WYNN the blind..will say they did nothing wrong...the analysts say its because they used a black pen to sign their name and not a blue pin!! smFh!!
@darthraider2050 2 ай бұрын
Amerikkka will never change they know who we are.
@jp-uno 6 ай бұрын
Then how did he get approved by the other lender in 15 days? 🤷🏿♂️🤷🏿♂️🤷🏿♂️
@One-andOnly 6 ай бұрын
Easy other banks have other programs Navy don't offer
@coolbreeze2.0-mortemadfasc13 6 ай бұрын
Bob’s story is simply one example.
@randymarsh3677 7 ай бұрын
Take advantage during the apology tour
@tjiarrikapayne2251 6 ай бұрын
I noticed when it comes to discrimination it’s only justified when it comes to Black Americans we can have the best credit and financial structure but we will still be deemed as “uneducated on credit” or we try to “scam and run plays” please stop labeling us like we are animals I am not saying you as the narrator did that but some comments are….however please stop silver lining our discrimination cases I am sure you would notice if your people were being discriminated against “which they have” and you wouldn’t want someone who didn’t look like you trying to silver line the issue happy holidays stay blessed ❤
@DonAllen80 7 ай бұрын
Let's say you're right about the other factors. But how do we explain the noticeable gap in approvals? Most people work a regular job and are not business owners. This is especially true among Veterans. So again, why wouldn't the gap be smaller if everything was fair? Last I checked, there's a decent amount of Black people in the middle class. Are we saying Black people are that financially illiterate or don't seek out the same financial resources available to the other groups? Because even if we had this one guy's credit score and personal info, that still does not explain such a gap between Black people and others.
@coolbreeze2.0-mortemadfasc13 6 ай бұрын
Exactly.
@elchatfield8601 7 ай бұрын
Navy Federal sounds like the Grosse Pointe school system they pick and choose who they hunt 😢
@eevd350z 6 ай бұрын
You think someone with a 800 score wouldn’t be stupid enough to apply at 8-9%!
@susanq7870 7 ай бұрын
Yes it is toxic racism greed for the employees as well😢
@user-uc7rr8br8l 7 ай бұрын
44% 77% that’s a big gap idc what anyone say that dude had 100k too put down on a house
@NaamWynn 7 ай бұрын
True it does feel like a lot. I had more than 20% and still was denied by NFCU. They are not known for for their mortgage. I honestly think local options are much better
@bossup6207 7 ай бұрын
They should way more easier to get homes without all these stipulations I feel like if u got good credit and a money u should be able to get a mortgage loan banks are super quick to give out car loans though 😂 mannn I see what’s goin on these banks ain’t fooling nobody
@barbthompson1628 7 ай бұрын
i agree its a hard process, but thats why we have to keep pushing and dont get discouraged by lil setbacks. trust its always someone out there to get the deal done. thank god we have youtube now to do research so we can be ahead of the game. and facebook too
@bossup6207 7 ай бұрын
@@barbthompson1628 but why so hard though nobody should have to go all those headaches fortunately for me my uncle left me a double wide home and 5 acres of land I only put 20k into the house for renovations I don’t have a mortgage I just ended up getting a personal loan for 20k that ima have paid off in 4years
@tangotea7192 6 ай бұрын
Close them down. Withdraw funds. Dont let them use your money to fund loans.
@DiemNguyen-ld8nv 7 ай бұрын
Don't sugar coat it. Wrong is wrong.
@Combatwhombat 7 ай бұрын
"factors:" (Social) Credit Scores...
@pamelacohen5945 7 ай бұрын
No Surprise to me 🤦🏾♀️🤦🏾♀️🤦🏾♀️🤦🏾♀️
@johndunkentell3388 7 ай бұрын
Sorry but your argument makes no sense. So if I work for a business and make 100k I get approved if I meet the credit requirements, but if I own the business and I make 100k a year and meet the credit requirements, I am denied? The same business I work can under just like business I own.
@NaamWynn 7 ай бұрын
It’s not just my argument. But if you ask lenders, small business owners have a much harder time to get lending. It was easier for me to get a loan when I had a w2 job rather than a business. Its dumb I know, but that’s the lending game
@donniee.2238 6 ай бұрын
Wow. Trying to justify this was just tiresome. I hope it makes sense at the end
@kennylee4626 6 ай бұрын
Navy Federal Credit Union has ALWAYS done Right by Me.
@richardgraham4827 6 ай бұрын
WELLS-FARGO, The fourth largest bank in the U.S engaged in unfair lending practices but NAVY FEDERAL WOULD NEVER..ok😆 ...seeing as many of your vids reference said credit union...clearly an unbiased perspective
@barbthompson1628 7 ай бұрын
Thanks for just laying out the facts, yes minorities are descrimanted against but its a million lending institutions out here and not one is perfect. You take the easy wins and move around. I belong to NFCU and i know that the credit cards and car loans are easy to get with high limits. What people dont realize is each department is ran different and have diff criteria for their said products. and some products is sometimes outsourced so if you dont do ur homework then lil disappointments ike this will hurt you instead of making you make wiser choices. isnt that the whole purpose of watching channels like this is to get the leg up on different lending institutions FYI folks their business products sucks too, prob why he got denied hes self employed
@mikejunior211 7 ай бұрын
This is my favorite back, and gives me peace of mind that my money is secure. a bank that carefully analyze all the possible risks before approving a loan makes it hardest to fail and go under. I know my deposits are 'insured' by FDIC...but I really doubt when time comes they will give me my entire money back.
@bbry2003 7 ай бұрын
Also what was his intenternal score with Navy Fed?
@NaamWynn 7 ай бұрын
True! But those only play a factor with credit card applications.
@dominichoward4833 7 ай бұрын
Great! You dont want my money, better i go elsewhere
@Forgotten1 7 ай бұрын
They trash. I was well above 100k in 2018 and they said I didn't qualify. I had NO debt! They asked me about a freaking $100 debt? Are you kidding me? I make more money being retired than most of those folks in that office! I did get approved, not from them and have been in my house ever since. They need to do better and own up to their BS.
@bauttiet.h.u.g.5900 7 ай бұрын
What were the reasons they denied your approval?
@Ticonderoga12 6 ай бұрын
I wudnt be so quick to claim racism, we need more actual info before passing judgment. Banks are in the business of lending money and each bank has its own criteria. If it's a high risk person to them why chance it? Jus sayin.
@dampam4273 6 ай бұрын
facts...any excuse to justify racism IMO!
@Ticonderoga12 6 ай бұрын
@dampam4273 i had all my ducks lined up n still got denied cuz a lender wanted more yrs at my job
@Walkingintoyourdestiny 6 ай бұрын
The man had above the income requirement and a 800 credit score
@ngutz117 5 ай бұрын
All the idiots on KZfaq that are teaching everyone how to get the bag from NFCU all sorts of videos of hacks and schemes are now complaining that they are racist give me a break. Take care of your credit and finances and you will. Have choices where to get a home loan.
@griffielliott279 7 ай бұрын
Bob Should have done the late night hack😂😂😂😂😂😂😂
@JazzyMarineVet 7 ай бұрын
YUP or the shopping cart trick :-) heheheh
@barbthompson1628 7 ай бұрын
🤣🤣🤣
@dampam4273 6 ай бұрын
lol
@bigwill5207 7 ай бұрын
Well i can only speak for myself and a few other buddies of mine whom are black and none of us experienced any racism at all! Been with them for 22 years now! Got a credit card with a high limit and much lower interest rate with a low credit score. Also got a car loan and personal loan with them as well, so i haven't experienced or heard about them being racist
@cchoice4919 7 ай бұрын
Ok but what about me!!… so I guess what happened to me was an anomaly..do you know how this comment just white washes our situations..it’s almost like your say fuc everyone else I got mine!!
@marlon8386 7 ай бұрын
I've never been murdered so I guess no one else has either.
@bigwill5207 7 ай бұрын
@cchoice4919 if you read what I said in my comment, I started off saying I can only speak for myself and the people whom I know. I can't nor did I say I was speaking for 13 million black people. You had your experience that was unfortunate just as the youtuber did, and I'm sure others as well who are of different ethnicities. All I'm saying is, if they are racist then me and the people I know according to your statement are the anomaly apparently
@communingwithGod 7 ай бұрын
@@bigwill5207 what area is your NFCU
@Truckernc 7 ай бұрын
Your exception isn’t the rule
@antont5633 7 ай бұрын
This guy in this video should work at Navy Fed. He is def a racist.
@NaamWynn 7 ай бұрын
🤣🤣🤣🤣
@trippleh1521 7 ай бұрын
I have gotten everything i have asked for from nfcu, i love the way they treat me and my family. 😊
@barbthompson1628 7 ай бұрын
same i use nfcu for what their good for credit cards and auto loans, and my family too
@comm2531 6 ай бұрын
Same here. Never looked beyond them.
@galenrp 7 ай бұрын
Don't act as an attorney for nfcu.
@NaamWynn 7 ай бұрын
I’m not. Just giving my pov
@bauttiet.h.u.g.5900 7 ай бұрын
That's a reach
@sdeestar 7 ай бұрын
I have not experienced any form of racism with Navy Federal, and I have applied for credit multiple times. I don't like surveys like this because it is very misleading, especially for a bank that is so relational. I am not saying it is a perfect bank but the notion that there is some kind of discrimination against black applicants is very absurd. I also do know that because they are seen to be a very generous institution, people think they won't due due diligence on the credit applications that come in, and that is wrong as well.
@kilduce4423 7 ай бұрын
You were approved for a home loan and purchased a home?
@ohmygosheightoeightwireles5082 7 ай бұрын
I would also say they aren't races either. But I don't think that they measure up to how they give credit limits. I have gotten letters saying that I was over my credit limit approval limit. When I only had one card at the time. Way under Navy Federals 80,00 limit. I was in the higher 700's and had low balance owed Loan with Navy Federal along with checking savings and direct deposit. Overall, I still like Navy federal,just wish they would change the way they calculate their interest rates.
@sdeestar 7 ай бұрын
@@ohmygosheightoeightwireles5082 I have gotten those letters too, I could be wrong but those letters are sent when you apply for credit limit increase on a card you already had an increase on shortly before, like their flagship card, they typically do not like increasing the limit more than once a year. I've gotten it before, waited a few months, applied again and it got increased. I think that is what it means, at least based on my experience
@DaveYoung-dl3mo 7 ай бұрын
@@ohmygosheightoeightwireles5082Your only one person, can you read they said, the majority of black people are getting denied
@coolbreeze2.0-mortemadfasc13 6 ай бұрын
Well, surely you can explain the difference.
@sincere355 7 ай бұрын
Race should be considered in mortgage applications?
@reneastory6296 7 ай бұрын
I don’t feel it’s discrimination. Once all of the research was done it all makes sense to me. This is why financial literacy is imperative
@2cents250 6 ай бұрын
What research was done? The did not provide any data for the disparity. Which is twice more than any banking institution. And there’s plenty of data to support that even when a black person is better off financially earn more better credit they are likely to be rejected over poor whites.
@DaveYoung-dl3mo 7 ай бұрын
This dude trying to make excuses for this racist bank. But I guarantee if these banks were discriminate against his race. He'll be singing different tune
@NaamWynn 7 ай бұрын
Watch CreditPlug he says the same thing plus he goes into detail about credit scores and race.
@Salsero81889 7 ай бұрын
If we’re being brutally honest, It certainly didn’t help that the biggest financial literacy platform for African Americans was literally encouraging and teaching black people how to commit bank fraud against navy federal.
@IAmHisBeloved5 7 ай бұрын
When did this happen?
@kellen-KMK 7 ай бұрын
The only time I’ve been denied a loan or had a high interest rate on a loan or credit card is because my credit score was in the trash can. I never assumed it was because I’m black. Let’s be honest, a lot of black Americans have terrible credit, high debt to income, and irresponsible spending habits. Like buying shit we don’t need instead of putting it in savings.
@damajewels3606 7 ай бұрын
And how do you know that? 🤔
@2cents250 6 ай бұрын
Studies show that blacks with better credit and higher earnings than nonblacks get denied for similar applications. Do some research.
@catt3911 7 ай бұрын
How are you trying to defend this? I just hope it doesn't happen to you...... I'm out.
@OGKennyLee 7 ай бұрын
Your story is partially wrong
@evokeanewday 7 ай бұрын
Yeah, yeah Naam. Sounds like you're mak8ng excuses for NF.
@NaamWynn 7 ай бұрын
How so? Credit profile and scores were not a factor in their findings.
@michellemoss8702 22 күн бұрын
I’m sorry but Naam sounds like he is working for Navy Federal. You can defend them if you want but you can’t explain the gap. You keep talking about credit score but navy federal prides themselves on relationship. That’s there marketing pitch. When you get denied there is no reason given specifically but you go somewhere else and get an approval? Stop making excuses because people like you are the problem. Black peoples need to stop banking with navy federal and put your money into banks that support you. I am definitely pulling my money out.
@David.5.6.7.8 7 ай бұрын
This was explained beautifully. Makes total sense.
@alexnuusila 7 ай бұрын
How is the data for member race accumulated if race is not collected for each member. I have never been asked what my race is. I think the disparity chart might be a creative and unverified information by CNN.
@sincere355 7 ай бұрын
Exactly race can not be considered in mortgage applications. Is CNN advocating that it should be?
@JazzyMarineVet 7 ай бұрын
That was my question: where on the mortgage application does it say RACE? I am looking at the mortgage app on Navy Federal now......of course it is CNN
@jamesrecknor6752 7 ай бұрын
Communist News Network
@davidlogan7253 6 ай бұрын
Without knowing about particular story, you are justifying what the Navy credit union has done, and you already met that by far black should be turned down more so than white and then you base it on the fact that that’s across-the-board with most lenders that still doesn’t justify the reasonthat Black should be turned down. When their credit score is equal to if not better than our account part white counterparts this is a racist society. It always have been but Asians, Jewish Italians, everybody else, but blacks are being treated fairly and you know that.
@NaamWynn 6 ай бұрын
So you didn't read the article? 🤔 Got it
@RGray3000 7 ай бұрын
Hey Nam, This is exactly what happens being a black guy in my home America. You do not know that he has the issues that you outlined and accepted as the reason why. Those issues may not apply to him. Navy Federal may really have negative lending practices for Black Americans. Is that the same reasons that makes up all of the 29%. Remember his situation was the same with the other lender where he was approved
@NaamWynn 7 ай бұрын
The only thing they said was similar was income, DTI, and neighborhood. Credit was never considered in that chart.
@bauttiet.h.u.g.5900 7 ай бұрын
I just don't think we can say this is what happens being a black guy because we don't have all the information. We only were given enough to fit a narrative. Being self employed or not able to explain where funds come from is a huge factor in underwriting. We shouldn't make serious decisions/determinations with incomplete information.
@ikebrown8357 7 ай бұрын
I find your explanation of this well-documented discrimination practice to be naive at best.
@NaamWynn 7 ай бұрын
If you watched till the end, I did say discrimination exist and there facts to back this. If you were to read between the lines CNN's article didn't prove anything. 18% of NFCU originated loans went to AA borrowers, and 25% of all applicants were AA. NFCU still lends to more AA than most CU's or Banks. I'm not sure how is this naive? Please explain.
@Weshoppingforless 7 ай бұрын
😂😂😂this just a story because they have nothing 😅😅
@fefeasp2697 7 ай бұрын
Let’s just consider the source of this article..I mean it’s CNN…two steps away from Fox News which is quite reputable 🥴😂.
@Weshoppingforless 7 ай бұрын
Facts CNN IS TRASH 🗑
@blackkmagik7281 7 ай бұрын
We was denied for mortgage at a 766 credit score and my husband is navy been with this bank for 8y now so they fucking racist towards black peoples for mortgages and was approved by another credit union no late payments nothing so u tell me ? But they approve for credit with high interest rate don’t want credit just wanted a mortgage loan thank god we was able to get that somewhere else it’s just sad knowing u bank with this credit union for so many years and this happens
@theonetrader44 7 ай бұрын
So many racist u- tubers!!!
@NaamWynn 7 ай бұрын
this makes me racist????🤣🤣🤣🤣
@dukewellington7050 5 ай бұрын
Disparity is not evidence of racism. When you consider that black people have the lowest education, credit scores and income of any racial group, as wellas the highest debt-to-income ratio of any racial group, is it any surpriae as to why they get denied for credit the most?
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