Service Federal Credit Union Review: Checking, Savings and Certificates
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Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Overview
Headquartered in New Hampshire, Service Federal Credit Union offers loans and investment services, as well as a free checking account and competitive rates on certificates. Some perks and accounts are exclusive to members of the military, but credit union membership is open to anyone who joins the American Consumer Council, which costs nothing when using a promo code the credit union provides.
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Competitive rate on some savings accounts and share certificates.
Anyone can become a member.
Participates in shared branching network with other credit unions.
Large, free, nationwide ATM network.
24/7 customer service by phone.
Expensive overdraft fee.
Low rates on some savings accounts.
Limit on amount that earns high savings rate.
Product reviews
Certificates of deposit
The credit union’s certificates — the equivalent of a bank’s CDs — have solid rates, a low minimum deposit requirement of $500 and a standard range of terms from three months to five years. There are standard and individual retirement account, or IRA, certificates.
Full List of Certificate Rates
| Term | APY | Min Deposit |
|---|---|---|
| 3 months | 3.25% | $500 |
| 6 months | 4.00% | $500 |
| 9 months | 4.00% | $500 |
| 1 year | 4.00% | $500 |
| 15 months | 3.10% | $500 |
| 1.5 years | 3.00% | $500 |
| 2 years | 3.00% | $500 |
| 3 years | 2.35% | $500 |
| 4 years | 2.45% | $500 |
| 5 years | 2.50% | $500 |
Rating methodology
How we rate banks and credit unions
Banking writers and editors use an objective methodology to rate banks, credit unions, and other providers, and to recommend the best products.
100+
Financial institutions reviewed
100+
Financial institutions reviewed
We took a close look at around 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
30+
Categories assessed
30+
Categories assessed
Each provider is evaluated across five weighted categories and 30 subcategories, including checking and savings accounts, certificates of deposit, customer experience, and overdraft services. For banks or credit unions without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
60+
Data points analyzed
60+
Data points analyzed
We considered more than 60 data points for each provider. Depending on the category, these included account fees and rates (such as annual percentage yields), ATM and branch access, account features, account bonuses, customer service access and user-facing technology, such as innovative tools and mobile apps. We gathered this information for each financial institution from its website, a media representative or both.
Star rating categories
The review team is made up of seasoned writers and editors who cover personal banking deposit accounts, such as checking, savings and certificates of deposit, as well as related banking services, such as overdraft programs and ATM networks. For providers without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Alto, Amalgamated Bank, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, Boeing Employees Credit Union, Bread Savings®, BrioDirect, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Climate First Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Discover® Bank, E*TRADE, EverBank, Fifth Third Bank, First Foundation, First Internet Bank, First Tech Federal Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, GO2bank, Golden 1 Credit Union, Hope Credit Union, HSBC Bank, Huntington Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, OMB Bank, OnePay, Openbank, PayPal, Peak Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Valley Bank, Varo, Venmo, Vio Bank, Wells Fargo, Western Alliance Bank, Zolve and Zynlo Bank.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.