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.

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

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
Excellent
Website / app
Excellent
Rates
Good
Fees
Low
This is the #1 Credit Union IMO
I opened a business checking/savings here 3 years ago only because my Nephew had a checking account here and liked it. I opened the account to make it easier and faster to transfer funds back and forth with him, I didn't need it otherwise because I have main bank accounts with Capital One and a local Credit Union. 3 years later, I find I like NFCU so much, I'm going to close my other account with the local Credit Union because I never use it anymore! NFCU was a surprise to me how good it is. NFCU is the Best Credit Union I've ever used.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Go to another credit union
Customer service on the phone is lacking tremendously! They take forever to answer the phones, then they ask you a million and 1 questions just to verify your identity, before they will answer basic questions not even pertaining to your account. It's so they can make notes in your account, based on the way THEY portray your behavior is to build a case against you, to their bosses. Lines are extremely long in the banks. Regardless of how long you have been with them, and even if your account has always been in good standing, its not easy getting a cresit line with them. I would try elsewhere. Their rates are way too high, they dont understand basic knowledge of their own system and cannot answer questions like why did your system take money out of my account twice? They get frustrated easily. I found that if you want a knowledgeable and educated conversation about your account, call your branch manager. Otherwise, if its not on their script, they cannot answer your questions and think for themselves. They advertised getting your direct deposit 2 days early when I joined, to get me to join. Then years later they retract that, now that they have used your money to grow, they no longer need to offer you early pay. So dont expect it with tjis bank.
Some of the reviews on the NerdWallet site were purchased through a third party provider. Users who post a review directly on the NerdWallet site will not be compensated in any way. Please see our Terms of Use and Posting Guidelines for more information.