10 Best Military Banks and Credit Unions of 2017From banking fee rebates to exclusive loan offers, here are the military bank perks and services you need to know.

 

If you’re a veteran, your service might qualify you for membership in a bank or credit union that offers military discounts or specializes in home loan services for veterans. It might also qualify you for free checking, free ATM use or preferred savings account interest rates.

Here are 10 of the best credit unions and banks for those who served. All 10 banks offer free checking and low- or no-fee ATM use. Check out the features and benefits designed specifically for military personnel and veterans. When looking for a new financial institution, make sure you get all the military perks and discounts available.

10 Best Military Banks and Credit Unions of 2017
 Financial InstitutionSavings Account Interest Rate1-Year CD Interest RatesProducts Offered
 Andrews Federal Credit Union0.31%1.41%Loans, credit cards, investments, insurance
 Randolph-Brooks Federal Credit Union0.25%1.06%Loans, credit cards, investments, insurance
 Navy Federal Credit Union0.25%1.05%Loans, credit cards, investments, insurance
 Arkansas Federal Credit Unionunavailable1.00%Loans, credit cards, investments, insurance
Air Force Federal Credit Union0.10%0.90%Loans, credit cards, insurance
 USAA Federal Savings Bank0.05%0.71%Loans, credit cards, investments, insurance
Langley Federal Credit Union0.05%0.65%Loans, credit cards, investments, insurance
 Tyndall Federal Credit Union0.05%0.65%Loans, credit cards, investments
 Fort Knox Federal Credit Union0.10%0.55%Loans, credit cards, investments, insurance
 First Citizens Bank & Trust Company0.05%0.10%Loans, credit cards, investments, insurance

1. Andrews Federal Credit Union

Formed in 1948 by eight people who contributed $5 each, Andrews Federal Credit Union now serves more than 113,000 people and manages more than $1.1 billion in assets. Its products are compatible with several digital wallet formats, including Apple Pay, Android Pay, Samsung Pay and Visa Checkout.

Customers can take advantage of a recently redesigned mobile app that features mobile checking, an ATM locator and access to account information. The credit union also offers online or in-person financial education to members who are considering a major purchase like a car or those seeking financial health tips.

2. Randolph-Brooks Federal Credit Union

Randolph-Brooks Federal Credit Union offers members banking services as well as access to notary services, coin counters, safe deposit boxes and wire transfers. It also maintains a network of free ATMs for members.

Free financial education resources regarding credit, budgeting and saving — and materials specifically designed for millennials and for those purchasing cars and homes — are available for members. With the app, you can pay bills, make account transfers, access ATM and branch locators, review account information and deposit checks remotely.

3. Navy Federal Credit Union

Navy Federal Credit Union charges a $1 fee for all ATM transactions. It offers rebates of up to $10 per statement cycle, however, to e-Checking, Flagship Checking and Campus Checking account holders who use Visa/PLUS System ATMs. The rebate limit is $20 for Active Duty Checking members.

Navy Federal provides a wide range of financial education resources on topics including student loans, home sales, auto budgeting, and wedding and honeymoon savings. Its mobile app has a text-banking feature that enables users to receive information about their accounts via text.

4. Arkansas Federal Credit Union

Every Arkansas resident is eligible for membership in the Arkansas Federal Credit Union, a member-owned financial institution that invests in local communities. Its products include business and personal banking accounts and loans in addition to credit cards. The recently updated app includes remote deposit and text banking, features that were previously unavailable.

5. Air Force Federal Credit Union

Air Force Federal Credit Union provides banking services to its 41,000 members — who are also owners — that include personal loans, mortgages and auto refinancing. AFFCU maintains a network of 30,000 ATMs members can use for free.

The general public and members can access the credit union’s financial calculators and educational articles on everything money-related. The free mobile apps work for Apple and Android products.

Learn: How to Get Your VA Home Loan Approved

6. USAA Federal Credit Union

USAA offers a variety of specialty accounts, including products designed for kids and college students. You can use one of its 60,000 nationwide ATMs for free or get a refund of up to $15 in fees every month if you use machines outside the network.

Members can use the mobile app to deposit checks remotely or visit one of the network ATMs that accepts cash and check deposits. USAA doesn’t charge its members to conduct transfers, even to accounts at other banks.

7. Langley Federal Credit Union

Financial services at Langley Federal Credit Union include SBA loans, commercial loans and business credit cards. The mobile app enables you to pay bills, deposit checks, make loan payments and check your FICO score.

Personal banking products include reloadable debit cards, home equity loans, student loans, and VA loan and mortgages services. The nonprofit, member-owned organization offers a wide range of financial literacy resources, including a series of videos designed to help users understand their credit reports and scores. Members who enroll for multiple services might be eligible for the Langley Active Rewards program.

8. Tyndall Federal Credit Union

Mobile banking, mobile deposit, online banking, bill pay and direct deposit are available to members of Tyndall Federal Credit Union. Members and nonmembers can visit the education center to learn about managing finances and making major purchases.

Membership includes access to a nationwide network of ATMs and the GENIE24 telephone banking service, which is available 24/7. Financial products include home equity loans, auto loans, credit cards, and personal and mortgage loans.

Related: 7 VA Benefits Every Military Family Should Know About

9. Fort Knox Federal Credit Union

Members are privy to a variety of online and mobile options, and they can make mobile deposits of up to $1,000 a day. Other benefits include Popmoney funds transfer service, mobile bill pay and account information searches.

If you use an out-of-network ATM, take your receipt into a branch or mail it in and get reimbursed. In addition to traditional banking services, this credit union offers investment services.

10. First Citizens Bank & Trust Company

Mobile and tablet banking enables members to use Apple or Android devices to manage accounts, deposit checks, pay bills, make payments and transfer money. First Citizens has more than 500 branches and offers traditional banking products like checking account options, savings accounts, credit cards, financing for major purchases and home buying services.

Members can also access retirement planning services, college savings plans and individual retirement accounts. Auto insurance, auto loans and refinancing options round out the bank’s product offerings.

Up Next: The 29 Best Banks of 2017

Methodology: GOBankingRates.com identified the best military banks and credit unions by analyzing products offered, low-fee or free ATM use, free checking option, and savings account and one-year CD interest rates. All fees and rates are subject to change at the institutions’ discretion. And, some bonus offers may or may no longer be available on the credit card issuers’ websites, depending on how you access the web page.

GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions, and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone and have not been reviewed, approved, or otherwise endorsed by the companies included in the article.

 

Comments
  • Disabled Veteran

    Despite the advertising, USAA is NOT MILITARY FRIENDLY, they are more like an ¨Enemy Combatant¨. They want military and retiree accounts for the direct deposit of Govt pay / benefits to keep their asset portfolio strong and they love to sell you auto insurance, however their financial underwriting department is very strict, has no flexability and appears to be very uneducated about what a ¨Good¨ credit score is. It is common practice to turn down cc apps or provide very low credit limits on their visa cards for customers having a ¨TRUE FICO SCORE¨ over 790, even when there is only a 2% debt to income ratio. Save yourself some time and frustration, go to NAVY FEDERAL or PENFED. Unlike USAA, both of these are true Credit Unions and treat military members / veterans / retirees very well. They offer high credit limits to those with FICO scores over 700 and a reasonable debt to income ratio.
    If you are asking yourself how I know what I have written to be true, I am speaking from 1st hand experience. My TRUE FICO score is 799 with no negative marks on my credit report. I own my house and my debt to income ratio is at 2%. USAA offered my a VISA card with a $500.00 credit line at 17.99%. When I made inquiries, USAA underwriters said I had no credit. When they were informed they had inaccurate information, they didn´t care and made no effort to determine my true credit score. I went directly to FedPen and Navy Federal, transfered my money and opened accounts. Within 24hrs Navy Federal offered me a VISA card with a $17.000.00 credit line and PedFed also offered a VISA card with a $5500.00 line of credit.
    Here is the dangerous part about the game USAA is playing. The financial products they try and sell you, everything from car insurance to credit cards to personal lines of credit are based on ? Yes, your credit score, so when USAA makes no attempt to correct something as serious as a customer showing ¨No credit¨ in USAA´s files, then that customer will not be offered a fair rate of interest or car insurance rates much higher than the customer should be paying.
    Obviously, make your own decision however look DEEP before you leap into bed with USAA. I hope this review has helped. CHEERS !

    • Truth

      I feel exactly what you are saying. I pull everything for USAA except auto insurance. Had been a member for over 15 years, credit score well over 700, active duty, low debt to income ratio, and was turned down for auto loan. Went next day to Service Credit Union and received lowest auto rate available at the time.

  • garry

    USAA and PENFED both have lost interest in providing quality customer information. I’ve been a USAA member since 1992 and Pentagon Federal Credit Union since 1997. I’m about to retire and I have no intention of banking with either once I’m retired

    • Mac mcintire

      Yeah, I agree. Their new director was a mess as a officer in the army, now with no expierance he’s screwing up usaa. Lost something 15 years ago. Now, just another bank

  • Mac mcintire

    I’ve been with usaa since 1979 when I was commissioned. Earlier when if you count as a driver under my father, since 1974. I have seen a dramatic decrease in services, accounts are no longer user friendly, they use only one credit agency equofax which is one of the worst. Note my credit score is 750,. 743, equofax 608. When questioned they just shrug there shoulders. In 2008 used usaa for a va loan, like they had never done a loan before. Although we closed ( 3 weeks ) late, it cost us $2000 more as we had shipped our furniture, car, and ourselves to Hawaii. But because of delays. Had to pay hotel bills and storage. Finally moved in with owners prrmission. Problem. They were losing stuff , when you sent data in via fax it went to universal location, car loans easy, boat loans easy, cheaper rates elsewhere but you call, it’s done. Same with insurance. Rates have been creeping up, they still are better than most. Advice. Va loans at quicken. Or pentagon federal credit union, both easy quick, professional. Insurance, boat, even, is done by progressive, you can get a better rate anywhere. When I bought a boat, USAA registered my mortgage twice, when I sold it, and they did check,, it was a nightmare to fix it, took 20 phone calls, lots of time, no apologies. Like a said, 15 years ago, this never would have happened. Outsourcing banking services, you loose the usaa feel. I understand investments have now been outsourced. Good luck with that. Do I still use them, yep, but I have RV loans, car loan and house under another bank