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, with over 7.5 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 May 4, 2018

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

Standard Certificate
APY
3.00%
Min. balance for APY
$10,000
Length of term
5 years

at Navy Federal Credit Union,

Federally insured by the NCUA

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

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

at Navy Federal Credit Union,

Federally insured by the NCUA

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

1.80%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

Barclays

Online Savings Account

NerdWallet Rating

at Barclays,

Member, FDIC

APY

1.75%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

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
Poor
Website / app
Fair
Rates
Fair
Fees
Fair
Disappointing
I have been a customer of NFCU for almost 20yrs when I first enlisted, and remained loyal to them throughout, having received adequate support, average rates on a vehicle loan, and satisfactory customer service overall. However, my latest interaction with them this past month with our first mortgage application has opened my eyes as to just how dissatisfying this establishment is. Their staff are slow to respond, their process is inefficient and confusing, and their loan officers lack the basic knowledge of the VA loan...the one loan that a military-affiliated establishment should be the most familiar with! I am disappointed with NFCU, and will gladly be taking my business elsewhere. If I can sum up my experience with NFCU over a decade, it would have to be average, but this last experience has made it clear that even that term is generous.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Poor customer service
Very disappointed to hear that my daughter ,who is currently in the Navy ,is being told that nothing fraudulent happened in her account when almost $800 was used and it wasn’t her. Nice way to stand by customer service and explain to her why or what happened. Instead she is told too bad you have no money. I feel you take advantage of young people when for the first time they are away from home and don’t have anyone near them to go through what happened. I guess that’s why the Navy credit union has grown because you steal the money from the servicemen and women who deposit their money in you institution.
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