Service Federal Credit Union Review: Checking, Savings and Certificates

Ruth Sarreal
By Ruth Sarreal 

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Service Credit Union
  • Certificates of deposit

Overall institution rating

4.0

NerdWallet rating 
The bottom line:

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.

Best for: Current or former members of the military who want a premium rate on some savings and civilians who want competitive CD and savings rates.

» Want more options? See NerdWallet's analysis of the best credit unions.

Pros

  • 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.

Cons

  • Expensive overdraft fee.
  • Low rates on some savings accounts.
  • Limit on amount that earns high savings rate.

Full review

Certificates of deposit

Service Credit Union Share Certificate
Service Credit Union Share Certificate

CD

Federally insured by NCUA

3.0

/5
 NerdWallet rating 
1-year APY
5.15%
3-year APY
3.35%
5-year APY
3.50%
Minimum deposit
$500

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.

» COMPARE: Best CD rates

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.