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

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
Poor
Rates
Fair
Fees
High
Navy Federal's partner, Wells Fargo, Rips off Customers
Navy Federal CU (NFCU) sends International Wire Transfers through Wells Fargo who has twice charged me an "erroneous fee," above and beyond NFCU's $25 wire transfer fee. Wells Fargo has been fined for defrauding customers and, apparently, is still doing do. I am disappointed that NFCU continues doing business with such a rogue bank. I'm now looking for another Credit Union that does not partner with fraudulent banks.
Overall
Customer service
Fair
Website / app
Good
Rates
Fair
Fees
Low
Great ...Until
Great Bank to deal with ... Until you face difficulties. If you ever get laid off , get a reduction in hours , or need to modify your payment ability. You're in TROUBLE. Recently , a member of my household lost a job and later was hired somewhere else permanently. We advised the bank of the circumstances throughout the process. They assured us they'd help. Although they offered extensions , once those first paychecks came , they HAMMERED us. Multiple payments were immediately due back to back. Then they'd seize pocket change without permission. They refused to accommodate us in any way and almost crushed her ability to initially work. Because of this. USAA will be getting my NEXT car loan application. And probably more of my business from here on out once im caught up.
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