Advertiser Disclosure

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.
Recently ordered to pay $28.5 million for improper debt collection practices.

Overall

3.5

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 | Reviewed June 26, 2017

Checking

4.5

All five Navy Federal checking accounts earn dividends, and there are some solid free and low-cost options to choose from.

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
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
Excellent
Website / app
Excellent
Rates
Excellent
Fees
Low
easy credit approval
NFCU is very considerate of giving credit to it's established members. Was given the highest credit limit on my visa than I ever could of thought possible. Have multiple bank accts with them all in good standing. Find it difficult to transfer money in and out is my big con with this bank. But their Customer Service is excellent. Love this CU
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Uncaring and stupid almost beyond belief
NOT a customer, but I have wanted to be for many years. When a radio ad told me that any veteran could now belong, I rushed to apply online. Then I got an email message saying I could not be verified, and needed to submit proof of identity and address. I followed their instructions to submit a PDF of a recent bank statement and a colored scan of my Maryland driver's license. Another email message followed, saying my documents were "blurry". Hello! The scan was as clear as the driver's license that you asked me to scan! But, I decide to go to a branch to show them the originals. A call to their customer service tells me there is a branch in Maryland. Good, except that my GPS unit can't find any such address. In the interim, I applied to Capital One for a cash rewards credit card and checking account that are fee-free outside of the US. Both were quickly granted without the foolishness I encountered with Navy Federal.
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