at Navy Federal Credit Union,

Federally insured by the NCUA

Pros

High rates for share certificates
No monthly fees on basic savings and several checking accounts
Over 30,000 free ATMs, plus some checking accounts offer ATM fee rebates

Cons

Small branch network
0.25% APY on basic savings; better rates available elsewhere

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We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

Overall

4.0

Navy Federal Credit Union is the largest credit union, with over 7.5 million members and a mission to serve those who serve our country.

 

Military-based membership: You can join Navy Fed if you’ve served in a branch of the U.S. armed forces on active duty or as a reservist, if you’ve worked for the Department of Defense or a DOD contractor, or if you’re immediate family of someone eligible for membership

 

Why join: If you live near a branch or don’t mind banking online, you can find mostly no-fee checking and savings accounts and high rates on share certificates.

Ratings methodology | Updated May 4, 2018

Checking

4.5
All five Navy Federal checking accounts earn dividends, and you can choose from some solid free and low-cost options.
Basic Savings Account
APY
0.25%
Min. balance for APY
$5

at Navy Federal Credit Union,

Federally insured by the NCUA

EveryDay Checking
APY
0.05%
Monthly fee
$0
Balance to waive monthly fee
$0

at Navy Federal Credit Union,

Federally insured by the NCUA

Standard Certificate
APY
3.00%
Min. balance for APY
$10,000
Length of term
5 years

at Navy Federal Credit Union,

Federally insured by the NCUA

How does Navy Federal Credit Union compare?

Navy Federal Credit Union

Basic Savings Account

NerdWallet Rating

at Navy Federal Credit Union,

Federally insured by the NCUA

APY

0.25%

Monthly Fees

$0

Bonus features

No Monthly Fee

Live help 24/7

Mobile-friendly

Goldman Sachs Bank USA

Online Savings

NerdWallet Rating

at Goldman Sachs Bank USA,

Member, FDIC

APY

2.05%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

American Express National Bank

High Yield Savings Account

NerdWallet Rating

at American Express National Bank,

Member, FDIC

APY

2.00%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

Not for you? Read more bank reviews
NerdWallet reviews are the result of independent research by our editorial team while accountholder reviews are contributions from independent users not affiliated with NerdWallet. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews.
Overall
Customer service
Excellent
Website / app
Excellent
Rates
Fair
Fees
Fair
Stay away!!!
I’ve been with Navy Federal for about 10 years now and they have really opened my eyes to what I am to them, just another number. So here’s the short version. My stepson has an account that is in negative status. His overdraft fees are about $300 more than the actual purchases. He has a separate account that my wife is the primary on from when he was a minor. Because her name is affiliated with his, the bank drafted money from that account. We have an additional account that’s under my wife’s name with our younger kids accounts and they drafted from that as well. That was last week. At this point, navy federal said that my stepson’s account has been frozen but charges are still going through which is steadily adding up because of the additional overdraft fees. My wife has been calling trying to get her name off of his account and she was told to write in and request to be removed. Last night, while talking to a representative at navy federal, they pulled up my account, which by the was, has nothing to do with my stepson’s account, and took $244. I called the bank to dispute and I was told, because my wife is on my account and have a joint account with her son who has an account in negative, they have the right to take from my account. I then said I’m gonna close my accounts and the rep said they would hate for me to leave but it’s my choice. I can’t get my money back and after taking money from four accounts, the initial account that’s in negative is still not satisfied. On top of all this, I’ve tried refinancing my cars through navy federal and didn’t get approved. I have 2 cars and a house and neither was through navy federal but through the years I’ve brought about 20 customers to this bank. Now that I’m leaving, I’m taking them with me. Stay away from this bank
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Standard Bank - Nothing Special
If you want to deal with average employees/paper pushers that cause delays and have fees hit you on numerous occasions - get your mortgage here.
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