Navy Federal Credit Union (NFCU) is a top choice for active-duty service members, veterans and their families, serving over 14 million members. With competitive rates, a robust ATM network and tailored financial products like checking accounts, savings options, loans and credit cards that offer dividends, NFCU effectively meets the unique needs of the military community. However, its membership restrictions, limited branch access and lower savings rates may pose challenges for some potential members.
Best for: Military members and their families.
Navy Federal Credit Union (NFCU) can be an excellent choice for active-duty service members, veterans and their families, as well as Department of Defense employees. Membership eligibility is tied to military service or affiliation, and it’s designed to cater to the unique financial needs of the military community.(2)
In the realm of credit unions, it offers competitive rates on savings accounts, checking accounts, loans and credit cards, along with a wide array of services like 24/7 customer support and access to over 30,000 free ATMs nationwide.
If you’re looking for personalized service, low fees and military-focused benefits, Navy Federal is ideal. However, membership is restricted to those with military ties, so it may not be the right fit for civilians outside this community.
Navy Federal Credit Union is one of the largest credit unions in the United States, serving over 14 million members with a focus on the military community and their families.
Navy Fed’s checking accounts don’t have monthly fees, ATM fees or overdraft fees. It is also integrated with Zelle, so you can send money to trusted friends and family easily between US deposit accounts.
Additionally, Navy has introduced credit-building opportunities with Bloom+. Eligible members can get rent and utility payments reported to credit bureaus, as Bloom+ automatically connects to your Navy checking accounts to report up to five recurring payments to credit bureaus.
With five checking accounts to choose from, NFCU has some decent variety.
NFCU offers two savings options: a traditional account and one designed for education expenses.
Not all credit unions offer money market accounts, and NFCU has three options with above-average rates.
Navy Federal Credit Union offers a range of certificate products, including SaveFirst, Standard Certificates, EasyStart Certificates and Special EasyStart Certificates.
With competitive rates and flexible terms, its CDs can cater to various financial needs, requiring flexible and low minimum deposits between $5 to $1,000, depending on the CD type. Most banks require at least $1,000, so NFCU’s CD can be significantly more accessible than many banks.
Rates are pretty good, such as the Special EasyStart Certificate featuring a 4.25% APY for a 12-month term and a low minimum deposit of $50. The average rate on a 12-month CD is 1.81%, so NFCU blows that rate out of the water.(3)
The Save First CDs have the lowest opening deposit requirement, only requiring $5 to open. However, rates are significantly lower than other options, only offering rates up to 0.40%.
We currently don't have that product, but here are others to consider:
How we picked theseThe Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
We currently don't have that product, but here are others to consider:
How we picked theseThe Finder Score crunches over 250 savings accounts from hundreds of financial institutions. It takes into account the product's interest rate, fees, opening deposit and features - this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of savings accounts against FDIC-reported national averages as a baseline. Accounts with rates well over the national average are scored the highest, while accounts with rates well below are scored low.
We currently don't have that product, but here are others to consider:
How we picked theseThe Finder Score crunches over 250 savings accounts from hundreds of financial institutions. It takes into account the product's interest rate, fees, opening deposit and features - this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of savings accounts against FDIC-reported national averages as a baseline. Accounts with rates well over the national average are scored the highest, while accounts with rates well below are scored low.
We currently don't have that product, but here are others to consider:
How we picked theseThe Finder Score analyzes hundreds of CDs from more than 100 institutions. It takes into account the product's interest rate for available terms and opening deposit requirements - this gives you a simple score out of 10.
Different banks and credit unions offer CDs for various lengths of time, ranging from as short as seven days to as long as 20 years. For our ratings, we consider the term lengths that the FDIC uses in its monthly updates on national rates.
If a bank or credit union doesn’t offer a CD for a specific term used by the FDIC, we don’t penalize it: Instead, we simply don’t rate it. Each of the standard term lengths has its own APY rating based on the FDIC’s average rates.
| BBB accredited | No |
|---|---|
| BBB rating | F |
| BBB customer reviews | 1.15 out of 5 stars, based on 309 customer reviews |
| Trustpilot score | 4.5 out of 5 stars, based on 41,237 customer reviews |
| Customer reviews verified as of | 16 May 2025 |
Navy Federal’s customer reviews are mixed across customer review platforms.
Trustpilot reviews are mostly positive, with many customers highlighting the ease of managing accounts online, ease of loan applications, great customer support and good rates.
NFCU also takes time to respond to Trustpilot reviews, which isn’t the norm. On the flip side, some mention issues with mortgage services and unexpected fees.
On the Better Business Bureau (BBB), customer complaints mostly revolve around delays in resolving disputes and poor communication — rather typical for a financial institution.
On Reddit, many members praise the credit union’s competitive rates on loans and credit cards and its focus on serving military personnel. However, some users express frustrations with customer service wait times, especially over the phone, and technical glitches with the mobile app.
Navy Federal Credit Union (NFCU) has been in hot water the last few years.
For starters, NFCU is facing a class-action lawsuit over its use of artificial intelligence (AI) to record and analyze phone calls without obtaining customer consent. This lawsuit, filed in May 2024, centers on potential privacy violations related to unauthorized call monitoring, raising questions about the legality of using AI technology in this capacity.
In November 2024, the Consumer Financial Protection Bureau (CFPB) has ordered NCFU to pay over $95 million for charging illegal overdraft fees. From 2017 to 2022, NFCU was found to be charging surprise overdraft fees on certain ATM withdrawals. NFCU must refund more than $80 million to its consumers, halt the illegal overdraft fees and must pay a $15 million civil penalty to the CFPB’s victims relief fund. This is the largest amount the CFPB has ever obtained from a credit union for illegal activity, according to the CFPB.
All user-submitted reviews must meet our review guidelines. These set out our standards and expectations, including that the review is from by a genuine user of the relevant product or service and that it is honest, authentic and respectful. We explicitly prohibit fake or otherwise misleading reviews and we check all submissions, but we make no guarantee as to the authenticity of any published review or reviewer. Some reviews may be submitted (regardless of sentiment) in exchange for entry into any competition(s) for which we are the promoter.
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