at Navy Federal Credit Union,

Federally insured by the NCUA

Pros

Top 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.

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Overall

4.5

Navy Federal Credit Union is the largest credit union in the country, with over 8 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 Feb. 5, 2020

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

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

at Navy Federal Credit Union,

Federally insured by the NCUA

Easy Start Certificate
APY
3.50%
Min. balance for APY
$50
Length of term
1 year

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
Poor
Rates
Poor
Fees
High
would not recommend
My name is Keith, During the COV-19 pandemic I had to do various jobs to make ends meet while company was shut down for 2 weeks. I made a deposit with a personal check that was given to me by a client for installing her AC/ unit, Navy Federal Credit Union has been holding my deposit passed the 9 business day deadline.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
AWFUL FOR MORTGAGES
As the daughter of a Purple Heart Vietnam Veteran, I definitely expected better customer service and professionalism from Navy Federal Credit Union. I am a first time homebuyer with great credit. I submitted my application in January and was approved for the home that I desired with a closing date of 3/31/2020. My appraisal was completed AND approved on 2/18/2020. My realtor and I consistently checked with the mortgage processor for updates on my file. Unfortunately, I was informed on 3/26 (less than a week from closing) that their appraisal has an error and I cannot close until it is adjusted. Now they're requesting a closing date extension that will result in me paying a few thousand dollars EXTRA in prorated interest! THIS HAS BEEN AN AWFUL EXPERIENCE AND I WOULD NOT RECOMMEND NAVY FEDERAL TO MY WORST ENEMY!!
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