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Navy Federal Credit Union Review: Checking, Savings and CDs
The bottom line:
Navy Federal Credit Union is the largest credit union in the U.S., with over 13.5 million members and a mission to serve those who serve our country. Its membership is linked to the military: You can join Navy Federal 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 an immediate family member of someone eligible for membership.
Best for: Those who are affiliated with the military and want competitive rates on share certificates and free access to ATMs, and aren’t concerned with getting in-person services or high savings rates.
NerdWallet star-rating penalty for CFPB settlement, Nov. 7, 2024: Navy Federal Credit Union entered into a consumer banking-related settlement with the Consumer Financial Protection Bureau. NerdWallet deducted 0.5 star from Navy Federal’s overall rating because of the negative impact of the actions discovered. For more details on Navy Federal’s penalty, scroll down to the customer experience section. For more information about penalties in general, see our methodology page.
Pros
- No monthly fees on some checking and savings accounts.
- Competitive rates on share certificates.
- Large, free, nationwide ATM network.
- 24/7 customer service by phone.
- Branches available worldwide.
Cons
- Low rates on savings accounts.
- Limited branch access.
- Limited membership.