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
Accused of improper debt collection in 2016 and ordered to pay $28.5 million

Overall

4.0

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 need access to a branch

Ratings methodology | Updated Oct. 4, 2017

Checking

4.5

All five Navy Federal checking accounts earn dividends, and you can choose among some solid free and low-cost options.

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
Poor
Website / app
Fair
Rates
Fair
Fees
High
Customer Service is terrible
NFCU says it is committed to their members, and I've been a member since 1987 - with each passing year the customer service gets worse and worse. Good luck with getting resolution to it issue with NFCU, there are departments that won't even speak directly with customers. The supervisors and managers are poorly trained to do their job, and I've been given the wrong answers to questions on multiple occasions. So, being a member has no extra perks or advantages.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Raised auto loan rates
Raised auto loan rate from 3% to 15% over documents they state never received from the DMV. How does a person ensure the DMV does their tasks in a timely manner?!?
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