Pros

No monthly fees on several checking accounts
Some checking accounts offer ATM fee rebates
At least 0.05% APY on all checking accounts

Cons

High average balance required to avoid fee on Flagship Checking
0.25% APY on basic savings; better rates available elsewhere
Accused of improper debt collection in 2016 and ordered to pay $28.5 million

Overall

4.0

Navy Federal may be right for you if:

  • You’ve served in a branch of the U.S. armed forces, on active duty or as a reservist; you’ve worked for the Department of Defense or a DOD contractor; or you have an immediate family member who is eligible for membership
  • You want a checking or savings account with no minimum deposit or monthly service fee, and you don’t necessarily need access to a branch

Ratings methodology | Updated Oct. 4, 2017

Checking

4.5

All five Navy Federal checking accounts earn dividends, and you can choose among some solid free and low-cost options.

Standard Certificate
1.15%
APY
$10,000
Min. balance for APY
18 months
Length of term
Learn moreat Navy Federal Credit Union
Basic Savings
0.25%
APY
$5
Min. balance for APY
Learn moreat Navy Federal Credit Union
EveryDay Checking
$0
Monthly fee
None
Balance to waive monthly fee
Learn moreat Navy Federal Credit Union
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Overall
Customer service
Good
Website / app
Good
Rates
Good
Fees
Low
Been good to me!
Been with NFCU since the early 80's, have had numerous auto loans and two mortgages through them and because I pay my bills on time I have never had a lick of problems from them!
Overall
Customer service
Poor
Website / app
Good
Rates
Poor
Fees
Low
limited capability
I've used the credit union for over 40 years. They can handle deposit accounts well but do not trust them to do wire transfers or anything more checking account maintenance. Their loan rates are high. The credit union is not a "benefit" of being in the service. Just another credit union.
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