Navy Fed will not open a trust account
- Thread starter StillServing
- Start date
The #1 community for Gun Owners of the Northeast
Member Benefits:
No ad networks! Discuss all aspects of firearm ownership Discuss anti-gun legislation Buy, sell, and trade in the classified section Chat with Local gun shops, ranges, trainers & other businesses Discover free outdoor shooting areas View up to date on firearm-related events Share photos & video with other members ...and so much more!
Member Benefits:
As an aside: I have been very impressed with PNC since they bought Mercantile. Having been a Mercantile customer for nearly 30 years I was concerned. Even though they are a PITTSBURG bank, I am glad I didn't move my accounts.
Lex Armarum
Ultimate Member
- Oct 19, 2009
- 3,450
I was with PNC when I lived in Philly and I was very happy with their services.
StillServing
I know NOTHING !
I just got a voicemail from the supervisor who was sending my Trust out for review.....and her answer is that Navy Federal is sticking by thier policy to not allow accounts for "gun trusts". She left me her number and I left her a voicemail to try and get some clarification as to why.......stay tuned....
Bart_man
Clinging to gun&religion
Yeah if they do that...Please post a point of contact regarding this policy so that I can call that person in specific and tell them why I am leaving them as a customer.
StillServing
I know NOTHING !
I just got off the phone with Ada Okenfor (last name spelling is wrong I'm sure). Her direct line is 1-800-883-3323 ext. 44055. Now don't call and give her grief, she tried to explain to me the rational behind what the NFCU general counsel has stated. I did get from her that NFCU has specifically stated that they will not open or manage accounts for "gun trusts" dealing with NFA items specifically. I don't have the exact wording in writing, but did get her to admit to that much at least.
I also told her (which she can't do anything about) that I will be taking the 5 accounts that I've had with NFCU for over 20 yrs elsewhere, and that I'm very disappointed with the institution for specifically barring this type of account. Especially since they cater specifically towards the military, veterans and DOD.
I was told that my only recourse would be to write the Board of NFCU with my complaints/concerns.
I already have everything set with CPFCU and have the P.O.C that deals with Trusts if anyone else is interested. CPFCU sends the trust out to a local law firm to get the O.K that all is in order prior to opening the account and was told that family members of current members or people eligible for membership are also OK to have on the account, i.e your co-trustee if any. Myself and a few other individuals just dropped a bunch of Trusts on thier desk and helped educate her a little. Hopefully that paves the way for others to get through a little easier.
I also told her (which she can't do anything about) that I will be taking the 5 accounts that I've had with NFCU for over 20 yrs elsewhere, and that I'm very disappointed with the institution for specifically barring this type of account. Especially since they cater specifically towards the military, veterans and DOD.
I was told that my only recourse would be to write the Board of NFCU with my complaints/concerns.
I already have everything set with CPFCU and have the P.O.C that deals with Trusts if anyone else is interested. CPFCU sends the trust out to a local law firm to get the O.K that all is in order prior to opening the account and was told that family members of current members or people eligible for membership are also OK to have on the account, i.e your co-trustee if any. Myself and a few other individuals just dropped a bunch of Trusts on thier desk and helped educate her a little. Hopefully that paves the way for others to get through a little easier.
