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

HSBC

Online Savings Account

NerdWallet Rating

at HSBC,

Member, FDIC

APY

2.30%

Monthly Fees

$0

Bonus features

Competitive APY

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
Poor
Rates
Excellent
Fees
High
It's just like every other bank
Everytime I've delt with navy fedral they work for them selves I have multiple sailors and marines trying to get assistance to go home on emergency leave and they deny it. I tried myself and got denied trying to support my own sailors and marines. There is no point in even trying with navy fedral just let your loved one die and hope navy marine Corp relieve society can help them
Overall
Customer service
Excellent
Website / app
Excellent
Rates
Poor
Fees
Low
Amazing Bank
I've seen a ton of negative reviews about Navy Federal and some I think people are just impatient. I'm a 10 year member here Active Duty. I have USAA as well, but Navy Federal has been the best bank, and have also been very forgiving to me. I've had circumstances where my 3 accounts were frozen and by right they froze those accounts. I went into the branch and instead of just telling me "oh well, this is your fault" they actually sat down with me, called the security team to get the answer. The security team said the freeze was permanent on my accounts and I could never return. I was forced to become a member of Wells Fargo who claim to have military benefits, but they don't. In April, I took the chance and submitted an appeal. I explained my circumstances at the time which caused my accounts to be frozen and submitted the appeal. I got an automated reply that my appeal would be reviewed in 15 business days. 15 business days passed and I got nothing, but 18 days later I received the email that my appeal had been honored. I can't express how thankful I am because with having Navy Federal I can assist my family much easier, and I don't have to worry about not being able to go into a local branch with USAA. Navy Federal gave me a 2nd chance and I have ZERO complaints. The one complain I did have went away because they are opening more branches. :-)
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