BEST OF

5 Best Military Banks and Credit Unions

Spencer Tierney
By Spencer Tierney 

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Serving people who serve their country is what military banks and credit unions do best. Our favorite military-focused financial institutions offer a combination of account options, competitive rates and low fees — as well as flexibility for families who face frequent moves or deployments. If you’re affiliated with the military, it may be in your best interest to consider one of these financial institutions as your next place to bank.

Why you can trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.

» Other options: Though we didn’t consider them for this list, many national, regional and online banks have low fees and rates that are competitive with these institutions. Check out our other top bank and credit union picks here.

Best military banks and credit unions of 2022

  • USAA: Early direct deposit and limited ATM fee reimbursements.

  • Navy Federal Credit Union: Free basic checking account earns a tiny amount of interest.

  • Pentagon Federal Credit Union: Access to more than 85,000 free ATMs.

  • Security Service Federal Credit Union: Competitive share certificates.

  • Service Credit Union: Generous ATM fee rebates.

5 Best Military Banks and Credit Unions

NerdWallet rating 

4.0

/5
USAA Bank
NerdWallet rating 

4.5

/5
Navy Federal Credit Union
NerdWallet rating 

4.0

/5
PenFed Credit Union
NerdWallet rating 

4.0

/5
Security Service Federal Credit Union
NerdWallet rating 

4.5

/5
Service Credit Union

Savings info for best military banks and credit unions

Financial institution

Rate on savings

Minimum deposit to open

USAA Bank

0.01%

$25

Navy Federal Credit Union

0.25%

$5

Pentagon Federal Credit Union

2.70%

$5

Security Service Federal Credit Union

0.05%

$5

Service Credit Union

5.00% APY on first $500, and 0.25% on funds above that amount.

$5

Last updated on February 24, 2022

To recap our selections...

NerdWallet's 5 Best Military Banks and Credit Unions