Andrews Federal Credit Union Review: Checking, Savings and CDs
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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
Andrews Federal Credit Union 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, joining the American Consumer Council (which is the most accessible method), or being an immediate family or household member of an Andrews Federal member.
Competitive rate on some savings and share certificates.
Anyone can become a member.
Large, free, nationwide ATM network.
Expensive overdraft fee.
Low rates on some savings accounts.
Product reviews
Savings
Andrews Federal has a high-yield savings account with no monthly fee and no minimum balance requirement. The rate is 3.75%.
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.
Andrews Federal Credit Union High-Yield Savings Account
Checking
Andrews Federal, in partnership with the marketing firm Kasasa, offers Kasasa Cash Checking, a free rewards checking account with up to 5.50% 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.
Andrews Federal Credit Union Kasasa Cash Checking
Certificates of deposit
Andrews 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
Full List of Certificate Rates
| Term | APY | Min Deposit |
|---|---|---|
| 6 months | 2.55% | $1,000 |
| 1 year | 3.70% | $1,000 |
| 2 years | 3.70% | $1,000 |
| 3 years | 3.70% | $1,000 |
| 4 years | 3.70% | $1,000 |
| 5 years | 3.70% | $1,000 |
| 7 years | 2.55% | $1,000 |
Andrews Federal Credit Union Fixed Rate Share Certificates
Customer experience & overdraft fees
Customer experience
Andrews 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
Andrews 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
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.