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 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
I miss them
I had nfcu account. My paycheck got screwed up so I went over drawn for more than 50 days so acct closed. I went to another credit union yuck. Those other ppl are rude. I miss nfcu and I'm going back there with my paycheck. The branch here is so friendly. And I like where you are a name not a number. So I'm coming back to nfcu
Overall
Customer service
Poor
Website / app
Poor
Rates
Fair
Fees
High
Find someone else
I am a former member of NFCU. Customer service in branches that I used ranged from good to abysmal. Regular direct deposits always hit my account a day or two later than the deposits of co-workers banking with other institutions. The process of doing business with them would always come to a stop when I was out of town/state/country or working night shift because they refused to ever do busness with my wife, a joint owner of the account, without my verbal permission even after having a power of attorney placed on file. Attempts to get financing for loans entails extraordinary unnecessary effort due to their antiquated business model. A car loan through NFCU would have taken over a week to approve while a phone call to my local Ford dealer got me a loan at the same rate in less than an hour. NFCU credit cards were useless for travel or internet purchases, as they would be locked out when used in a zip code outside of your normal spending area. My son, a current NFCU member, recently had major difficulty in trying to resolve an apparent identity theft and unauthorized access to his account while on deployment. I could go on, but why? You get the point.
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