Best Banks for Military Personnel, 2017
- (opens in new tab)
- (opens in new tab)
- (opens in new tab)
- Newsletter sign up Newsletter

Service members, who may have to move frequently and face sudden and extended deployments, value no-hassle accounts with friendly policies for those who do their banking around the country and the world.
Here's a look at our top bank picks for military personnel.

BEST: Navy Federal Credit Union
Open to current and former members of all military branches, Navy Federal Federal Credit Union (opens in new tab) has a strong mix of accounts. Active-duty personnel with a qualifying military direct deposit can use a free checking account that yields 0.05% interest and reimburses up to $20 per statement cycle in out-of-network ATM fees.
All of the credit union's checking accounts -- including one that yields up to 0.45% -- come with free checks and free transfers from a savings account to checking in case of an overdraft. The no-fee basic savings account yields 0.25%, and a free money market deposit account pays a rate of up to 0.55% (depending on the balance). Plus, Navy Federal offers the Go prepaid debit card, which has no monthly fee and is usable anywhere that accepts Visa debit cards. Both the prepaid card and standard debit cards from Navy charge a reasonable 1% fee on transactions abroad made in foreign currencies.
Navy Federal has 298 branches worldwide (often on or near military bases), including locations in 30 U.S. states. It also offers a host of military-specific resources and advice, such as free financial seminars around the U.S.

RUNNER-UP: Andrews Federal Credit Union
Andrews Federal Credit Union (opens in new tab) is centered in a few East Coast states and caters to the local military community, with branch locations on and near Joint Base Andrews, in Maryland, and Joint Base McGuire-Dix-Lakehurst, in New Jersey. But anyone in the country can become a member by paying a $5 fee to join the American Consumer Council (opens in new tab). The credit union offers a free, no-strings checking account (as well as an interest checking account that yields 0.1% on balances of $5,000 or more), plus a free savings account with a rate of 0.31% on balances of $100 or more. Members can use ATMs in the CO-OP network, with nearly 30,000 machines, free of charge, and Andrews doesn't charge a fee to customers who use out-of-network machines (ATM operator charges may apply). Andrews also offers a no-fee Visa prepaid debit card.
Especially for service members living in Europe, Andrews has some attractive features, including the ability to pay bills online in the local currency and branch locations at military installations in Belgium, Germany and the Netherlands.

The Best Banks and Credit Unions for You, 2017
.kip-slideshow ul.kip-list-nobullet li {font-size: 14px;margin-bottom: 0;line-height: 1.5;}
These stellar banks and credit unions are making all the right movies to win satisfied customers:
Lisa has spent more than15 years with Kiplinger’s Personal Finance and heads up the magazine’s annual rankings of the best banks, best rewards credit cards, and financial-services firms with the best customer service. She reports on a variety of other topics, too, from retirement to health care to money concerns for millennials. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.
-
-
Stock Market Today: Nasdaq Skyrockets After Meta Earnings, Buyback News
The Dow, on the other hand, closed lower on disappointing guidance from Merck (MRK).
By Karee Venema • Published
-
Do This One Thing and Save a Month of Full-Time Work Every Year
Sponsored People spend about 170 hours a year on managing personal finances.
By Sponsored • Published
-
The 25 Cheapest Places to Live: U.S. Cities Edition
places to live Take a look at our list of the cheapest places to live in America for city dwellers. Is one of the cheapest places to live in the U.S. right for you?
By Dan Burrows • Published
-
Should I Cancel Amazon Prime? Here Are 12 Good Reasons
Amazon Prime The giant retailer had a year of ups and downs, leaving many wondering: Do I need Amazon Prime?
By Bob Niedt • Published
-
10 Things to Know About Hurricane Insurance Claims
Becoming a Homeowner Hurricane damage? Know what’s covered, what isn’t, and how to make the most of your policy if you need to file a claim.
By Kimberly Lankford • Published
-
The Most Expensive Natural Disasters in U.S. History
Economic Forecasts Wind, water, fire and drought have all wreaked havoc on the United States. What’s been the worst?
By David Muhlbaum • Last updated
-
Amazon Prime Day 2022: Some of the Best Deals from Kiplinger Editors
Amazon Prime Amazon Prime Day is here. We’ve identified some great values on products and services, a number of which we’ve used ourselves.
By the editors of Kiplinger's Personal Finance • Last updated
-
10 Tax Deadlines for April 18 (Today is Not Just the Due Date for Your Tax Return)
tax deadline Between requesting a tax extension, making IRA or HSA contributions, and meeting other tax deadlines, there's more to do today than just filing your federal income tax return.
By Rocky Mengle • Last updated
-
Alternatives to Amazon Prime for Free Shipping and More
Amazon Prime You don’t need to pay Amazon Prime’s juiced $139 annual fee to find a wide swath of products online at different retailers.
By Bob Niedt • Last updated
-
40 Ways to Earn Extra Cash in 2022
business We flag a wide variety of cool side hustles to earn bonus bucks for expenses both expected and unexpected as we begin to emerge from the pandemic.
By Bob Niedt • Last updated