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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 rely on access to a branch.

Ratings methodology | Reviewed Oct. 13, 2016

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
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Overall
Customer service
Excellent
Website / app
Excellent
Rates
Excellent
Fees
Low
Best Ever
I've been in Navy Federal CU for over 40 years. Love these guys. Perfect service and any problem can be taken care with a phone call. They even call me at home if they see suspicious activity. With all the bank problems since 2008, I know MY bank will always be there and has never done any suspicious tinkering with our accounts.
Overall
Customer service
Excellent
Website / app
Excellent
Rates
Excellent
Fees
Low
this a excellent credit union
always great customer service, Online service is easy and prompt. The BEST credit union to join.
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