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.

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Overall

4.0

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. 14, 2019

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

How does Navy Federal Credit Union compare?

Navy Federal Credit Union

Basic Savings Account

NerdWallet Rating

APY

0.25%

Monthly Fees

$0

Bonus features

No Monthly Fee

Live help 24/7

Mobile-friendly

Goldman Sachs Bank USA

Online Savings

NerdWallet Rating

at Goldman Sachs Bank USA,

Member, FDIC

APY

2.25%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

American Express National Bank

High Yield Savings Account

NerdWallet Rating

at American Express National Bank,

Member, FDIC

APY

2.10%

Monthly Fees

$0

Bonus features

Competitive APY

Live help 24/7

No Monthly Fee

Not for you? Read more bank reviews
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
Fair
Website / app
Fair
Rates
Fair
Fees
Fair
Saved $8k on mortgage closing costs with a local broker in 2018
I sought quotes from multiple options and the local broker saved me more than $8k from the bank that I had used since enlisted over 20 years ago. Lessen learned.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Worst bank to deal with
I’ve been dealing with this bank for three weeks now submitting my membership since my roommate is ex military and has an account with them for our car loan I submitted all my documents They requested that they need additional because of something with the address submitted it again they never got it then they tell me that they will send me an email with the new lead to re-upload I’ve called in and out 10 times because I have never received the email link like they say I would be 10 to 15 minutes it’s been three hours I’ve never received a single link this bank has the worst customer service they will give you different answers every time you call and if that’s the case how can you trust this bank for your financial needsDefinitely would recommend USAA Not going forward with my application process with this bank not going forward with my application process with this three weeks later and still trying to get my application approved
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