For all of the brave men and women that have served our country and their families, there are special military banks and credit unions out there that want to help give back. Check out our list of the the best military banks and credit unions to see if you can find a specialized financial institution that can offer you and your family a better banking experience.
USAA Federal Savings Bank
USAA Federal Savings Bank has a variety of products to cater to any of the needs you might have. Things such as multiple types of bank accounts, services, and products currently aid there large 11 million members worldwide. Convenience is their game as they offer features such as worldwide ATM access, third-party ATM fee rebates and a broad product suite.
- Availability: AZ, CO, TX, FL, VA, NY, MD (Branch Locator)
- Routing Number: 314074269
- Customer Service: 1 (800) 531-8722
- Services offered: Checking, Savings, loans, mortgages, credit cards, investments, insurance
- Pros:
- No monthly checking account fee
- Up to $15 in monthly ATM fee rebates
- Access to more than 60,000 surcharge-free ATMs
- Fully developed product line
- Cons:
- Low APY rates
- Not a lot of physical branches
- How to open an account: USAA membership is restricted to active and retired military, their families and cadets or midshipmen. If you’re eligible, you can open an account online with a $25 deposit plus your Social Security number, date of birth and address.
(Click the link above to learn more about this bank)
Navy Federal Credit Union
The first credit union on our list, Navy Federal Credit Union offers competitive rates on products like checking and certificates. They have nearly eight million members across the nation and you can see why because they offer a wide range of financial products and services while also being one of the largest credit unions in the world.
- Availability: Nationwide (Bank Locator)
- Routing Number: 256074974
- Customer Service: 1-888-842-6328
- Services offered: Checking, Savings, loans, mortgages, credit cards, investments, insurance
- Pros:
- Some of the best rates available on a one-year CD
- No-fee accounts
- Wide variety of financial products available
- Pays interest on no-fee checking accounts
- Cons:
- Low APY rates
- How to open an account: You can open an account online at Navy Federal Credit Union once you prove that you’re eligible for membership. You’ll need to provide standard personal and financial information such as your name, address, date of birth and Social Security number.
(Click the link above to learn more about this credit union)
Pentagon Federal Credit Union
Known informally as “PenFed”, Pentagon Federal Credit Union serves more than 1.6 million people nationwide. They have many banking products and services to choose from, so if you don’t know what you need yet, take a look at what they have to offer. This credit union has served military personnel and their families for a while now and have customers from the Air Force, Army, Coast Guard, Department of Homeland Security, Department of Defense, and the Veterans of Foreign Wars.
- Availability: Nationwide (Bank Locator)
- Routing Number: 2560-7844-6
- Customer Service: 1 (800) 247-5626
- Services offered: Checking, savings, certificates, IRAs, mortgage, loans
- Pros:
- The checking account earns interest.
- Members have access to 68,000 free ATMs.
- 1.60% APY on its online savings account.
- Cons:
- 0.05% APY on its basic savings account.
- $5 minimum to open an online savings account
- Doesn’t participate in shared branching.
- How to open an account:
- Open an Online Savings account from PenFed Credit Union with an opening deposit of $1.00
- Input your info – Provide your name, address, phone, email and social security number or Tax ID.
- Fund the account – Transfer funds electronically from an internal account here or an external account at another bank.
(Click the link above to learn more about this credit union)
Service Credit Union
Originally founded in 1957 as Portsmouth Air Force Base Credit Union, Service Credit Union has grown to more than 50 locations across Massachusetts, North Dakota, and New Hampshire. They boast an A+ health rating and offers a range of personal depository based banking products. If you need a form of savings products, this is the financial institution for you.
- Availability: Nationwide (Bank Locator)
- Routing Number: 211489656
- Customer Service: 1 (800) 936-7730
- Services offered: Checking, savings, certificates, mortgage, loans
- Pros:
- Multiple checking options with no monthly maintenance fee.
- Great rates on share certificates.
- Special programs for eligible military and government employees.
- Participates in shared branching.
- Cons:
- Low APY rates
- How to open an account:
- Open a new account
- Input your info – Provide your name, address, phone, email and social security number or Tax ID.
- Fund the account – Transfer funds electronically from an internal account here or an external account at another bank.
(Click the link above to learn more about this credit union)
Air Force Federal Credit Union
Air Force Federal Credit Union is all about service, integrity, and excellence. When you walk through the doors of this establishment, you can feel it. If you decide to do your banking here, you will have access too multiple branches with over 200 CO-OP shared branches in Texas, and more than 5,000 shared branches nationwide.
- Availability: Nationwide (Bank Locator)
- Routing Number: 314085504
- Customer Service: 1 (800) 227-5328
- Services offered: Checking, savings, certificates, mortgage, loans
- Pros:
- Multiple checking and savings options
- No charge at AFFCU and CO-OP ATMs; $1 at all others
- High one-year CD/share certificate rates
- A broad array of financial products available
- Cons:
- No interest on checking accounts
- How to open an account:
- Open a new account with an unexpired government-issued ID such as a passport or driver’s license, along with your physical mailing address, Social Security number, and date of birth.
(Click the link above to learn more about this credit union)
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Bottom Line
With these options in mind, you have all you’ll need to make the best decision! At the end of the day, all of these military banks and credit unions only have one goal in mind and that is to help out the brave women, men, and families that have served. The only thing you need to keep in mind is what products and services are you looking for because each of these establishments are better than the other in each category. For more posts like this, check out our list of best CD rates and bank promotions!
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