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.
Pros
Many interest-bearing accounts, including checking
Few fees on checking accounts
Wide variety of products and services
Built-in credit-building tools with Bloom+
Compatible with Zelle
Cons
Only available to service members, veterans and their family members
Limited branch locations
Low APYs on savings accounts
Is Navy Federal Credit Union right for you?
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.
How Navy Federal Credit Union stacks up
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.
Where it shines
Variety of services. The credit union provides a comprehensive range of financial products, including checking and savings accounts, loans, mortgages and investment services.
Robust ATM network. Members can access over 30,000 ATMs nationwide, with many offering fee rebates, making it convenient to withdraw cash without incurring additional charges.
Strong customer service. NFCU offers 24/7 assistance and offers a variety of auxiliary aids and services to better communicate with members who may require them.
Financial Education. NFCU provides expert guidance and tools to help members boost financial literacy and make smarter financial decisions.
Where it falls short
Membership requirements. NFCU membership is primarily limited to military personnel, veterans and their families, which may exclude potential members outside this community.
Small branch availability. While NFCU offers extensive online and mobile banking services, its physical branches are limited compared to traditional banks.
Limited high-yield options. Navy Federal’s high-yield savings options aren’t as competitive as those offered by other banks or credit unions, especially online-only banks.
Navy Federal Credit Union’s checking accounts
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.
Free Active Duty Checking. This account is tailored for active-duty and retired military members, allowing up to one day early access to military pay with qualifying direct deposit. It also features ATM fee rebates up to $240 a year ($20 per month), no monthly service fees and no minimum balance requirements. It also earns 0.05% APY on your balance. A qualifying military direct deposit must be posted to the account within 180 days of opening. If you don’t meet this requirement, the account converts into the Free EveryDay Checking account.
Free EveryDay Checking. The Free EveryDay Checking account offers a straightforward banking experience with no monthly service fee or opening deposit requirement. While it earns a lower APY of 0.01% compared to the other accounts, it includes all standard benefits of NFCU’s checking accounts. This account is suitable for members seeking a hassle-free option without stringent requirements.
Free Easy Checking. Designed for everyday banking needs, the Free Easy Checking account has no monthly service fees or minimum balance requirements. It offers features like ATM fee rebates of up to $10 per month, earns 0.05% APY credited monthly, and provides a simple and efficient way to manage finances without extra costs. To keep this account open, you must either set up direct deposit or make at least 20 debit card transactions per statement period.
Free Campus Checking. Catering to students aged 14 to 24, the Free Campus Checking provides convenient banking with ATM fee rebates and no monthly service fees. There’s also no minimum balance requirement. It’s an ideal option for students or young members looking to manage their money easily while avoiding fees.
Flagship Checking. The Flagship Checking account allows members to earn tiered dividends based on their balance, with APYs ranging from 0.35% to 0.45%. It features ATM fee rebates up to $120 a year and has no monthly service fee if the average daily balance is $1,500 or more. This account is perfect for members looking to maximize their savings while enjoying additional rewards for higher balances.
Navy Federal Credit Union savings accounts
NFCU offers two savings options: a traditional account and one designed for education expenses.
Basic Savings Account. Included with NFCU membership, it’s ideal for building an emergency fund or saving for everyday expenses. It offers an APY of 0.25% with a minimum balance of just $5 required to earn interest. Members can name multiple accounts for easier management while accessing funds at any time.
Education Savings Account (ESA). NFCU’s Coverdell Education Savings Account allows families to save for educational expenses tax-free, making it a valuable long-term savings tool with an APY of up to 0.25%. There’s no minimum deposit required, and contributions can reach up to $2,000 per child annually, providing flexibility to access funds when needed. This account is ideal for parents and guardians planning for their children’s education, offering both tax benefits and contribution flexibility.
Navy Federal Credit Union money market savings accounts
Not all credit unions offer money market accounts, and NFCU has three options with above-average rates.
Money Market Savings Account. Ideal for members who can consistently maintain a balance of $2,500. This account earns an APY as high as 1.5% and requires a minimum balance of $2,500 to earn dividends. Access funds anytime through checks, ATMs and digital banking — this account allows you to build savings effectively while keeping your money readily available.
Jumbo Money Market Savings Account. For those with a balance of $100,000 or more, this account offers an even higher dividend rate on the entire balance, up to 2.25% APY. If the balance falls below $100,000, the account reverts to the standard Savings Account rate.
Navy Federal Credit Union CDs
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 $5 to open. However, rates are significantly lower than other options, only offering rates up to 0.40%.
{"userFilters":[{"config":{"MULTISELECT":true,"VALUES":"Earns interest,No monthly fee,Bonus offer,Free ATM access,Online only,Early direct deposit,Crypto account "},"dataSelector":{"recordType":"product","fieldCode":"DETAILS.ACCOUNT_FEATURES"},"dataType":"TEXT","label":"Account features","order":null},{"config":{"MULTISELECT":true,"VALUES":"Cash by teller,Cash by ATM,Check by teller,Check by ATM,Mobile\/remote check deposit,Bank transfer,Wire transfer,Direct deposit,Fiat currencies,Cryptocurrencies,Cash by participating retailer"},"dataSelector":{"recordType":"product","fieldCode":"DETAILS.DEPOSIT_METHODS"},"dataType":"TEXT","label":"Deposit methods","order":null},{"config":{"MULTISELECT":true,"VALUES":"Alabama,Alaska,Arizona,Arkansas,California,Colorado,Connecticut,Delaware,District of Columbia,Florida,Georgia,Hawaii,Idaho,Illinois,Indiana,Iowa,Kansas,Kentucky,Louisiana,Maine,Maryland,Massachusetts,Michigan,Minnesota,Mississippi,Missouri,Montana,Nebraska,Nevada,New Hampshire,New Jersey,New Mexico,New York,North Carolina,North Dakota,Ohio,Oklahoma,Oregon,Pennsylvania,Rhode Island,South Carolina,South Dakota,Tennessee,Texas,Utah,Vermont,Virginia,Washington,West Virginia,Wisconsin,Wyoming"},"dataSelector":{"recordType":"product","fieldCode":"DETAILS.STATE_AVAILABILITY"},"dataType":"TEXT","label":"States serviced","order":null},{"config":{"MULTISELECT":true,"VALUES":"Personal,Business,Student,Kids"},"dataSelector":{"recordType":"product","fieldCode":"DETAILS.USER_TYPE"},"dataType":"TEXT","label":"Account type","order":null}],"niche":{"currencySymbol":"$","decimalPoint":".","decimalPlaces":"2","thousandsSeparator":",","filterBoundsMap":{"product.DETAILS.ACCOUNT_FEATURES":null,"product.DETAILS.DEPOSIT_METHODS":null,"product.DETAILS.STATE_AVAILABILITY":null,"product.DETAILS.USER_TYPE":null}},"prefilled":false,"experimental":false}
5 of 20
Compare other products
We currently don't have that product, but here are others to consider:
How we picked these
What is the Finder Score?
The 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.
{"userFilters":[{"config":{"MULTISELECT":true,"VALUES":"ATM\/debit card,Online only,Bonus offer,No monthly fee,Joint account,Crypto account,High APY"},"dataSelector":{"recordType":"product","fieldCode":"DETAILS.ACCOUNT_FEATURES"},"dataType":"TEXT","label":"Account features","order":null},{"config":{"MULTISELECT":true,"VALUES":"Cash by teller, Cash by ATM, Check by teller, Check by ATM, Mobile\/remote check deposit, Bank transfer, Wire transfer, Direct deposit, Fiat currencies, Cryptocurrencies"},"dataSelector":{"recordType":"product","fieldCode":"DETAILS.DEPOSIT_METHODS"},"dataType":"TEXT","label":"Deposit methods","order":null},{"config":{"MULTISELECT":true,"VALUES":"Alabama,Alaska,Arizona,Arkansas,California,Colorado,Connecticut,Delaware,District of Columbia,Florida,Georgia,Hawaii,Idaho,Illinois,Indiana,Iowa,Kansas,Kentucky,Louisiana,Maine,Maryland,Massachusetts,Michigan,Minnesota,Mississippi,Missouri,Montana,Nebraska,Nevada,New Hampshire,New Jersey,New Mexico,New York,North Carolina,North Dakota,Ohio,Oklahoma,Oregon,Pennsylvania,Rhode Island,South Carolina,South Dakota,Tennessee,Texas,Utah,Vermont,Virginia,Washington,West Virginia,Wisconsin,Wyoming"},"dataSelector":{"recordType":"product","fieldCode":"DETAILS.STATE_AVAILABILITY"},"dataType":"TEXT","label":"States serviced","order":null}],"niche":{"currencySymbol":"$","decimalPoint":".","decimalPlaces":"2","thousandsSeparator":",","filterBoundsMap":{"product.DETAILS.ACCOUNT_FEATURES":null,"product.DETAILS.DEPOSIT_METHODS":null,"product.DETAILS.STATE_AVAILABILITY":null}},"prefilled":false,"experimental":false}
6 of 23
Compare other products
We currently don't have that product, but here are others to consider:
How we picked these
What is the Finder Score?
The 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 these
What is the Finder Score?
The 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 these
What is the Finder Score?
The 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.
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 in the news
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.
Gabriel Vito is a freelance personal finance writer for Finder. With over four years of experience, he has crafted helpful guides and articles covering various personal finance topics, including credit cards, investing and banking. Gabriel's work has been featured on Yahoo Finance, NASDAQ, GoBankingRates, and more. He has a Bachelor's Degree in English and is passionate about helping others navigate their financial journey. See full bio
Gabriel's expertise
Gabriel has written 34 Finder guides across topics including:
Jamela Adam is a personal finance writer with over three years of experience. Her work has been published in major publications, including Yahoo Finance, Forbes Advisor, U.S. News, Business Insider, GOBankingRates, CNN Underscored, and Chime. Jamela previously worked as a content marketing specialist and helped devise content strategies for major brands in the financial services space. She is also a Certified Financial Education Instructor (CFEI). See full bio
SoFi offers several bonus offers, including a direct deposit bonus, welcome offers and referral bonuses. See how to snag up to $300.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
