Andrews Federal Credit Union Review: Checking, Savings and CDs
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- Savings
- Checking
- Certificates of deposit
- Customer experience
- Overdraft fees
Overall institution rating
4.6
Andrews Federal Credit Union, a Black-owned financial institution, has a solid offering of checking accounts, savings accounts and share certificates. Its branches are on the East Coast. Military service is one way to be eligible for membership with Andrews Federal, and the credit union provides special resources to military members by offering features such as overseas bill pay.
It also offers vehicle financing for members stationed in Europe and has branches on military installations in Germany, Belgium and the Netherlands. If you aren’t a member of the military or civilian personnel of the Department of Defense, there are other ways to join. Membership options include being a member of one of Andrews Federal's Employer Groups, living or working in Washington, D.C., joining the American Consumer Council (which is the most accessible method) or being an immediate family or household member of an Andrews Federal member.
Best for: Active or retired members of the military or other eligible Andrews Federal members who want a solid ATM network.
Pros
- Competitive rate on some savings and share certificates.
- Anyone can become a member.
- Large, free, nationwide ATM network.
Cons
- Expensive overdraft fee.
- Low rates on some savings accounts.
Full review
Andrews FCU
Savings
Savings
Federally insured by NCUA
4.5
/5 NerdWallet ratingAndrews Federal has a high-yield savings account with no monthly fee and no minimum balance requirement. The rate is 4.00%.
To join Andrews Federal, though, you first have to open the Base Share Savings account and keep $5 in the account. This basic account has no monthly fee and a low interest rate of 0.05% APY.
Checking
Checking
Federally insured by NCUA
4.8
/5 NerdWallet ratingAndrews Federal, in partnership with the marketing firm Kasasa, offers Kasasa Cash Checking, a free rewards checking account with up to 6.00% APY on balances up to $25,000. There’s a lower rate of 0.50% above that balance. However, earning these rates requires enrolling in eStatements and two types of monthly activities: At least 15 debit card purchases and one direct deposit or ACH transaction.
» COMPARE: Best rewards checking accounts
Not meeting these requirements drops the rate down to 0.05%APY for a given month, but you can qualify again the next month. These requirements aren’t abnormal for some rewards checking accounts, but they can be extensive, especially if you prefer using credit cards over debit cards.
Rewards aside, this account has no monthly fees or minimum balance to open or maintain the account. Andrews also provides up to one-day early direct deposit as well as same-day transfers via Zelle.
Certificates of deposit
CD
Federally insured by NCUA
5.0
/5 NerdWallet ratingAndrews Federal offers solid rates on its fixed-rate share certificates — the credit union equivalent of certificates of deposit — and each requires a $1,000 minimum opening deposit.
» See more options: Best CD rates
Customer experience
4.4
NerdWallet ratingAndrews Federal branches are located in Maryland, New Jersey, Virginia and Washington, D.C., as well as overseas on military installations in Germany, Belgium and the Netherlands. The credit union's branches on military bases participate in shared branching through the Co-op shared branch network.
Andrews Federal’s customer service call centers are open six days a week, and customers can also use a virtual assistant chatbot to ask questions. The credit union's mobile apps for Apple and Android devices also have solid star ratings, and you must be enrolled in the mobile app or digital banking for most of Andrews Federal’s accounts.
» SEE: Best online banks
Overdraft fees
4.1
NerdWallet ratingAndrews Federal charges $32 per overdraft up to three times per day, for a total of $96 in potential overdraft fees per day. There are a couple of ways to avoid overdraft fees: Customers can use a free overdraft protection transfer from a linked Andrews Federal savings account or they can apply for an overdraft line of credit, which charges interest but no fee. The credit union also doesn’t charge overdraft fees when a checking account balance goes negative by $12.
» COMPARE: Best banks for overdrafts
How does Andrews Federal Credit Union compare?
 Member FDIC |  Member FDIC |
|---|---|
NerdWallet rating 4.5 /5 | NerdWallet rating 4.5 /5 |
APY 4.00% With $0 min. balance for APY | APY 4.55% With $5,000 min. balance for APY |
Bonus $300 Earn up to $300 with direct deposit. Terms apply. | Bonus N/A |
Learn more at SoFi Bank, N.A. | Learn more at CIT Bank |
Methodology
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.
