Navy Federal special can earn you (and others) $50 each

[wakkowarner]

So right now there is a special at Navy Federal that will let new account owners (it's a credit union, requires you to put $5 in to become a member) and the people that refer them earn $50 each.  Just found out about it today, but myself and my wife are members.  I plan on having my only child join, probably under my account, netting us $100.  It says you can get up to 5 people to join.  Not sure if it will last long enough or allow recent joiners to get other people to join, but theoretically my wife and I could make $500.  Our immediate family could earn $750 if my son would be able to refer 5 people also (most likely not going to happen).

Since the community here has joined up for credit cards and such for the special offers I thought I'd throw this out there.  To be eligible to join Navy Federal you need to meet the criteria: https://www.navyfederal.org/about/eligibility-checklist.php

If you meet the criteria, then any current member that refers you (doesn't have to also be your sponsor to join) gets the $50.

As a CU they've treated us well, have had them since 2000.  Currently have my mortgage through them (and my prior mortgage).  I've seen others on the boards talk about their good rates.  I don't have any branches near me (live in St. Louis, MO) but that hasn't been an issue.  Oh, and if you do join, make sure you look into their "EasyStart Certificates".  They are CD's and seem to go on especially high interest rates at times.  I've got one that pays 3%.  The upper limit for the amount you can invest is only $3k, but like it says, it is a "start".  You can also deposit to it throughout the year (this was my first CD, not sure if that is normal).

Here is a link to the offer: https://www.navyfederal.org/membership-benefits/offers-discounts/80yr.php?intcmp=hp

[Rural]

I'll vouch for them being generally wonderful. We've been with them since you had to be active duty Navy to join (early 90s in our case).

[Riceman]

Great bank, including online banking and customer service.  Their rewards credit cards suck however.

[wakkowarner]

I'll vouch for them being generally wonderful. We've been with them since you had to be active duty Navy to join (early 90s in our case).

Any experience with their referral program before?

I joined when I was active duty Navy also, though I think at the time they allowed any military member and their family.  Now you can just be a "household member" which I guess means just living with one (such as boyfriend/girlfriend/roommate).  Also applies to DoD contractors too, so people that work for Northrop Grumman or Boeing or such now qualify for membership.

[Rural]

I'll vouch for them being generally wonderful. We've been with them since you had to be active duty Navy to join (early 90s in our case).

Any experience with their referral program before?

Not a bit of it, sorry. I think it may be new.

[wakkowarner]

Well, my family is now $100 richer.  Filled out a form for my son and used myself as a referral.  A stamp and a few days later and he now has an account at Navy Federal.  I wrote a $5 check for him to open the account.  They credited $50 to the account and $50 to my account.  Now I plan on getting more money transferred to his account and probably get an investment going in one of their 3% CD's. 

Edit: Just remembered that the 3% CD's are a "Special Easy Start" which require you to have a checking account and direct deposit.  So not going to get quite as high as 3%, but I can just stick with the standard "Easy Start" CD.