at Navy Federal Credit Union,

Federally insured by the NCUA

Pros

High rates for share certificates
No monthly fees on basic savings and several checking accounts
Over 30,000 free ATMs, plus some checking accounts offer ATM fee rebates

Cons

Small branch network
0.25% APY on basic savings; better rates available elsewhere

Overall

4.0

Navy Federal Credit Union is the largest credit union, with over 7.5 million members and a mission to serve those who serve our country.

 

Military-based membership: You can join Navy Fed if you’ve served in a branch of the U.S. armed forces on active duty or as a reservist, if you’ve worked for the Department of Defense or a DOD contractor, or if you’re immediate family of someone eligible for membership

 

Why join: If you live near a branch or don’t mind banking online, you can find mostly no-fee checking and savings accounts and high rates on share certificates.

Ratings methodology | Updated May 4, 2018

Checking

4.5
All five Navy Federal checking accounts earn dividends, and you can choose from some solid free and low-cost options.
Basic Savings Account
APY
0.25%
Min. balance for APY
$5

at Navy Federal Credit Union,

Federally insured by the NCUA

Standard Certificate
APY
3.00%
Min. balance for APY
$10,000
Length of term
5 years

at Navy Federal Credit Union,

Federally insured by the NCUA

EveryDay Checking
APY
0.05%
Monthly fee
$0
Balance to waive monthly fee
$0

at Navy Federal Credit Union,

Federally insured by the NCUA

NerdWallet reviews are the result of independent research by our editorial team while accountholder reviews are contributions from independent users not affiliated with NerdWallet. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews.
Overall
Customer service
Poor
Website / app
Fair
Rates
Fair
Fees
Fair
Unprofessional and inconsiderate
This bank has the worst customer service out of any bank I have ever dealt with. For it to be a credit union I thought they really put their banker’s first. Customer service representatives are inconsiderate and unprofessional, and no not just one the majority that I have talked to have been this way, If you have issues with your account they move with no urgency to help you fix the problem and don’t care whether it affects you or not. Horrible horrible experience I will be leaving this bank as soon as possible.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Misleading and Horrible Service
Loan officer led me to believe that I had secured a loan and provided documents to myself and my real-estate agent that I was all approved. I ended up working with the processing division and there all sorts of issues with my application. I met all of Navy Federal demands on documents to include their request for unnecessary documents. Navy Federal concentrated on an issue with my employment but the truth it had to deal with my debt to income ratio. I even had a co-signer on the home loan. No mention of that throughout the process. Over $3000 later and numerous letters stating that I was approved, 10 days before closing, it was stated to me that my loan was not approved. No real explanation on why all parties were led to believe that everything was good to go. Asked for the loan officer to contact me to explain, but no one has called. Asked for a supervisor, not response yet. Going to lose out on a lot more money and my family not being able to settle into a new home. Do not use this bank and even though they provide things in writing, do not believe.
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