Navy Federal Credit Union


Overview / Commentary
888-842-6328
820 Follin Ln SE
Vienna, VA 22180

Navy FCU is a Virginia-based federal credit union serving millions of members who are, or are related to, service members and employees with the Department of Defense. The credit union offers a range of depository banking and lending products, as well as business and investment services, and is considered the largest credit union in the world.

On its personal banking side, Navy Federal Credit Union offers checking, savings, Money Market, Certificate, and IRA accounts to serve consumers’ savings needs. A variety of checking account options offer flexibility and include accounts designed for active duty members, students, and members looking for higher interest returns. Navy’s active duty checking has no balance minimums, refunds ATM fees up to a certain amount, and gives free military-themed checks for the life of the account. The student checking differs from the basic checking account only by offering ATM fee refunds. Overdraft protection options are available on all of Navy’s checking accounts.

The credit union’s basic savings account has no monthly fees and a low initial deposit requirement. A savings account is automatically opened by the credit union when membership is granted. Money Market savings accounts offered by the credit union earn more than a basic savings account because of minimum balance requirements. There is also a Jumbo dividend rate for Money Market accounts with over $100,000 balances. Certificates and IRA Certificates are available in term lengths that range from 3 months to 7 years. Navy’s Special Certificate account earns a competitive rate of interest, but has a low maximum balance cap. Its standard Certificates and IRA Certificates have no maximum deposit caps. DepositAccounts.com has recognized Navy’s Certificates repeatedly in the past.

Navy FCU online banking offers a secure and convenient banking platform on which members can perform account management tasks like transferring funds, paying bills, ordering checks, and making loan payments. Free Direct Deposit makes it easy to seamlessly deposit paychecks and Navy’s mobile banking services provide remote deposit to make depositing any check quick and simple. Scan deposits can be accomplished via a scanner attached to a computer and are free for personal account holders, $1 per month for business account holders.

Navy FCU was originally established in 1933 as the Navy Department Employees’ Credit Union of the District of Columbia. After dissolving in 1947, the credit union was rechartered as a federal credit union and named Navy Department Employees Federal Credit Union, until transitioning to its current name in 1954. Today, Navy FCU is headquartered in Vienna, Virginia, and employs over 10,000 people who serve more than 4 million members. The credit union serves its members through numerous locations in states all across the country.

Field of Membership Restrictions

Membership in Navy Federal Credit Union is open to members of active duty Army, Marine Corps, Navy, Air Force, Coast Guard, Army and Air National Guard, Department of Defense Officer Candidate/ROTC, Department of Defense Reservists, retirees from military service, Department of Defense civilian employees and contractors and retirees, U.S. Government Employees Assigned to Department of Defense Installations. Military veterans who were honorably discharged are also eligible. Membership is also open to immediate family of current members or those eligible for membership.
See current membership details

Related Posts

Navy Fed's 12-mo 3% EasyStart CD requires Direct Deposit - 5/9/2021

Certificate has a great rate, although limited to $3,000 Limit one Special EasyStart Certificate per member. This offer, including the stated APY, is effective Jan. 11, 2021. Navy Federal reserves the right to end or modify this offer at any time. Penalty for early withdrawal. The Special EasyStart Certificate has a $50 minimum balance and a $3,000 maximum balance. Additional deposits are allowed at any time, subject to the maximum balance. But here's the big GOTCHA (and likely deal breaker): Certificate owner(s) age 18 and older must have Direct Deposit of Net Pay or payroll allotment and a Navy Federal checking account within 90 days of the certificate issue date. If these requirements have not been satisfied by the 90th day, your Special EasyStart Certificate dividend rate will be reduced to the prevailing dividend rate of the standard EasyStart Certificate for the remainder of the certificate's term.

Navy Federal CU Shell Game - Email Promotion - 8/12/2020

As a very long time fan of NFCU, I was shocked to find out that they sent out what can only be called a deceptive promotion to allow adding on to a CD. Their email notice dated 8/12/20 read: "Your certificate is already earning dividends at a great rate. Help your savings grow even more by transferring money into it anytime (up to the maximum)." There is no restriction referenced as to the type of CD, suggesting that any CD would be eligible for this change. I thought, oh boy, they've relaxed the add-on restrictions and I can now max out CD's that were initially fixed amounts but could have been increased at the time of opening the CD, thus converting a fixed CD to an Add-On CD. Perhaps this is a "favor" to old time, high deposit customers... But, NO. After calling NFCU's CSR, she told me that nothing had changed. Add-on CD's that were originally opened could indeed be increased to the maximum (just like always). But that only applied to Add-on CDs. Fixed amount CD's still could not be

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12/24/18 - Possible New Promo CD Offering
12/20/18 - Deposit Delay Issue at Navy Federal - Tips To Avoid Future Problems
12/4/18 - Navy Federal Debuts 40-month IRA Certificate Special
12/3/18 - Navy FCU 3.75% 40 Month IRA Special
11/7/18 - 3 Yr Variable Rate CD
10/22/18 - NFCU 24-Month CD 3.00% APY
10/8/18 - Navy Federal Unveils 24-Month CD Special
10/1/18 - CD Rate Increase At Navy
8/21/18 - 3 Year Variable CD 2.79% APY
8/21/18 - Returns Now Up To 3.25% APY
7/30/18 - Most CD Rates Raised
4/30/18 - Navy Fed Adds 5-Year Certificate Special
4/30/18 - 2 New NFCU Special Certificates Available
4/3/18 - Navy Fed Has Ended 2.25% APY 15-Mth Add-On CD
1/30/18 - Navy Federal - CD Interest May / Will Not Be Paid If We Lose Money
1/8/18 - Navy Fed 3 Yr Variable Rate Cd
1/6/18 - Navy Fed 1St IRA Bonus + Special = 3.32%
12/19/17 - Navy Credit Union 15 Months 2.25% Add On CD.
12/14/17 - Limited Offer
12/4/17 - Navy Fed Offers New Special Certificates
7/31/17 - Navy Fed’s New Competitive Special Certificate: 5-Month ($10K Max)
7/31/17 - 3% 5 Month Taxable CD - $10K Max
6/7/17 - Navy Federal Increases 2-Year IRA CD Rates
5/15/17 - Navy Fed Ends a Backdoor Way To Qualify for Membership
5/1/17 - Navy Federal CD Update: 17-Month Special Ends, Standard Rates Up
3/2/17 - System Reset
2/14/17 - $25 Bonus For New Members At Navy Federal Credit Union
2/9/17 - Military Veterans and Family Members Now Eligible To Join Navy Fed
2/8/17 - Membership Change - Open To Veterans
1/4/17 - $25 Referal Bonus
12/14/16 - Little-Known Way to Qualify for Navy Federal Credit Union Membership
12/7/16 - Navy Fed Adds 2.00% APY 17-Month Special Certificate
12/6/16 - New 17 Month 2.00% CD
8/1/16 - Special 20-Month Certificate 2.00% APY
5/3/16 - Navy FCU Offers 15-Month Military Appreciation CD
5/1/16 - 15 Month CD At 3% APY For Military Members
5/1/16 - 15 Month CD At 3% APY For Military Members
2/1/16 - Navy FCU Raises Some C/D Rates
1/12/16 - Expired - 30 Month, 2.5% Share Certificate - $5K Minimum.
12/7/15 - Navy Federal CU Offers 30-month CD Special and 20-Month IRA
12/7/15 - Pearl Harbor Day Special....
12/7/15 - Special Easy Start CD 12 Months 3.00% APY
8/4/15 - Navy Federal CU's 18-month CD Offers Competitive Rate
5/20/15 - Military Specials If Join Navy Federal Credit Union (Easy $100)
5/8/15 - Navy Federal CU's 15-month Military Appreciation CD Is Very Competitive
5/1/15 - Military Appriciation 15 Month CD 3.5% APY
3/12/15 - Navy Federal Credit Union Offers $100 Bonus On First Time IRAs
3/5/15 - Navy Federal Credit Union’s Hot Share Certificate Promotion
12/15/14 - Bulk Of Navy FCU's Income Stems From Fees
12/1/14 - Navy Federal CU Has Top Rate 20-month and 30-month IRA Specials
11/5/14 - Navy Federal Among First To Debut Apple Pay
9/13/14 - Navy Federal To Be One Of First Financial Institutions Offering Apple Pay
9/5/14 - Nice 1-Year CD Special at Navy Federal Credit Union
9/2/14 - 5% 1 Year $5000 Max CD
7/1/14 - Navy Federal Credit Union Is Growing Its Footprint, In Virginia And Florida.
6/6/14 - Problems With Navy Federal Credit Union
5/20/14 - World’s Largest Credit Union Is Getting Bigger
5/4/14 - Navy Federal Appreciation Week CD Offer
5/2/14 - 3-Year CD Rate Cut
3/3/14 - Navy Federal Cuts CD Rates But They Remain Competitive
2/25/14 - Navy Federal Credit Union Online Account Access Down
1/20/14 - Navy Federal Growing Auto And Business Loans
1/20/14 - Big CD Rate Increases at Navy Federal Credit Union
1/20/14 - Rate Increases
1/17/14 - Navy Federal Credit Union New Member and IRA Promotions
1/6/14 - Nice IRA CD Features at Navy Federal Credit Union
9/17/13 - Navy FCU Sells $200 Million In Banking Services On Facebook
8/9/13 - Navy Federal Offers V.Me Digital Wallet
8/5/13 - Navy Federal Direct Deposit and Refer-a-Friend Bonuses
6/13/13 - Navy Federal Books Record $753 Million In Loans In May
6/3/13 - How The World’s Biggest Credit Union Uses Social Media
5/15/13 - Navy Federal’s Shred Day - Navy Shred-eral Day
5/8/13 - NFCU Military Appreciation Week -- 4% CD, Etc.
4/4/13 - Navy Federal Announces 1,500-Job Florida Expansion
2/26/13 - NAVY FCU Increases Rate To 3.50%
2/8/13 - Problem With Interest Checks From Navy Federal
1/7/13 - Long-Term CD Rates Fall at Navy Federal But Remain Competitive
1/4/13 - Add-On IRA CDs
9/17/12 - Special CD Rate and Other Deals for Navy Federal's Members Appreciation Week
9/5/12 - Navy Federal To Hold First-Ever Worldwide Member Appreciation Week
9/4/12 - CD Rates Fall at Navy Federal But Remain Competitive
8/30/12 - Can A CD With Joint Owners Have A Beneficiary?
6/29/12 - Referral Bonus
5/1/12 - New CD Rates and Tiers at Navy Federal Credit Union - Limited Membership
4/12/12 - Top CD & IRA CD Rates at Navy Federal - Limited Membership
2/27/12 - Can Add On To Existing IRA CD Before 4/30
12/22/11 - Navy Federal's IRA CD Special & Top CD Rates - Limited Membership
11/6/11 - Navy Federal CU Now Offers Scan Deposits Service
9/13/11 - Special Easy Start 12-Mo. CD
7/29/11 - Rate Change
4/1/11 - Navy Federal Raises CD Rates Again - Available Nationwide But Limited Membership
3/1/11 - Higher CD & IRA CD Rates at Navy Federal Credit Union - Limited Membership
2/28/11 - 1 Year Easy Start CD
1/25/11 - Navy Federal Increases Special 30-Mo CD Rate, But Limits It To IRAs
12/7/10 - Rate Cut From Navy Federal Credit Union
11/18/10 - Special 30-Month CD and IRA Rate at Navy Federal Credit Union
10/31/10 - Update For Navy Federal Members Who Came From USA Fed
9/22/10 - USA Federal To Merge Into Navy Federal - Impact To Navy's FOM?
9/6/10 - Navy Federal's CD Rates Fall But Remain Competitive
9/3/10 - Top CD and IRA CD Rates at Navy Federal But Rates May Fall Soon - Limited Membership
2/4/10 - Competitive Long-Term IRA CD Rates at Navy Federal Credit Union - Limited Membership
10/26/09 - 2.60% 30-Month CD at Navy Federal Credit Union - Nationwide but Limited Membership
3/10/09 - 3.25% 6-Month CD at Navy Federal Credit Union
3/10/09 - 4.60% 30-Month IRA CD & 3.50% 6-Month CD at Navy Federal Credit Union
1/24/09 - 3.75% 6-Month CD & 5.10% 84-Month CD Continue at Navy Federal Credit Union
1/16/09 - New CD Rates at Navy Federal Credit Union
10/17/08 - 4.00% 6-Month CD at Navy Federal Credit Union
10/13/08 - 5.10% 5-Year CD at Navy Federal Credit Union
7/28/08 - 4.00% 15-Month CD at Navy Federal Credit Union
5/29/08 - Update on Navy FCU - Money Market Account, CDs and My Experience Joining
5/29/08 - Navy Federal Credit Union Updates - Eligibility and My Recent CD Issues
10/7/07 - Navy FCU Updates - Jumbo CDs and $100 Checking Account Bonus
8/12/07 - Navy FCU's 6% 10-Month CD May Be Ending Early
7/2/07 - 6.00% 10-Month CD Starts Monday at Navy FCU
7/2/07 - 6.00% 10-Month CD at Navy FCU - It's Now Official
2/5/07 - It's Official, 6.00% 15-Month CD at Navy FCU
1/26/07 - 6.00% 15-Month CD at Navy FCU Starting Feb 5th
1/22/07 - 6.25% 84-Month CD at Navy Federal Credit Union
10/27/06 - 6.00% 84-Month CD at a Multi-State CU (Navy Federal)
8/16/06 - Navy Federal Still Offering 6.25% 18-month CD
7/3/06 - 6.25% 18-Month CD at a Multi-State CU (Navy Federal)
4/12/06 - 6.01% 48-Month CD at a CU Open to All

Reviews (171)

A Great Credit Union With Better CD Rates Than Most.

Posted by: |

I see there are several negative comments about this CU. Remember, people this is the biggest CU in the US, so expect a few disgruntled people to look for a place to post their anger. I've had nothing but great, great service!

Easy Join, Extremely Hard After That

Becoming a member and joining was a breeze. Then it went off the rails. I wanted to get the 17 month CD and I wanted to make it a joint CD. I'd have to fund the CD, and they use Western Union speed pay for that, not the normal ACH from one bank to another. That was odd to me and then I'd have to mail in a form to make it joint and another form to add a POD. I asked if I could mail a check for the CD along with the paperwork for the CD, POD, and joint owner all at one time. I could, BUT it all goes to different departments so it does not all happen at the same time. Was told that I could send in the POD form now to cover any future accounts with them and then all $ would be covered in the event of my death. Problem is I'd want to make my husband the POD until the CD was open and then I'd want him the joint owner with a different POD. At that time I'd have to try and change the POD also. Decided that it was too much trouble for me at this time. They were all very nice but it's an extremely odd process.

Deposits In Checking

I have banked with NFCU for over 15 years and they no longer take care of their customers.. I recently sold my house that was financed through Navy Fed and deposited a certified check from community bank I put in my account.. I called four times before depositing the check and was told 4 times I would have my money within 2 business days and after the check was deposited they put a 9 day hold on my check and I now don’t have access to my money.

NFCU Disclosure

I have been a customer of NFCU for some time and have never had a problem with receiving the correct interest or found that any of their disclosures were not being followed.

Customer Service always very helpful so I do not understand why you would have any problems with NFCU.

I would give them a FIVE STAR RATING

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Health
A+

Health Grade Components

Overall
NCUA #5536
Year Chartered1947
Employees18185
Primary Regulator
Profit Margin
Return on Assets - YTD1.79%
Return on Equity - YTD10.31%
Annual Interest Income$1.55B
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$144.5B$125.6B
LoansQ1 2021vs Q1 2020$88.36B$83.06B
DepositsQ1 2021vs Q1 2020$120.2B$92.10B
Equity CapitalQ1 2021vs Q1 2020$24.26B$31.70B
Loan Loss AllowanceQ1 2021vs Q1 2020$0$1.74B
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$700.5MM$930.1MM
Real Estate OwnedQ1 2021vs Q1 2020$0$20.2MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Navy Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Navy Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%--IRA Share Account
0.25%$5-Share Savings Account

Navy Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$100k*-Jumbo Money Market Savings Account
OTHER TIERS: 0.25% Up to $100k
0.50%*$100k*-Jumbo IRA Money Market Savings Account
OTHER TIERS: 0.25% Up to $100k
0.45%*$10k*-IRA Money Market Savings Account
OTHER TIERS: 0.40% $2.5k - $10k
0.45%*$10k*-Money Market Savings Account
OTHER TIERS: 0.40% $2.5k - $10k

Navy Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.45%*$25k*-Flagship Checking
OTHER TIERS: 0.35% $1.5k - $10k | 0.40% $10k - $25k
0.45%*$25k*-Premium Business Checking
OTHER TIERS: 0.35% $1.5k - $10k | 0.40% $10k - $25k
0.05%--Campus Checking
0.05%--Active Duty Checking
0.05%--Free Easy Checking
0.01%--EveryDay Checking
0.01%--Business Checking
0.01%--Business Plus Checking

Navy Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%$50$3k12 Month EasyStart Certificate Special
0.95%*$100k*-5 Year Certificate
OTHER TIERS: 0.90% $1k - $100k
0.95%*$100k*-7 Year Certificate
OTHER TIERS: 0.90% $1k - $100k
0.75%*$100k*-3 Year Certificate
OTHER TIERS: 0.70% $1k - $100k
0.75%*$100k*-4 Year Certificate
OTHER TIERS: 0.70% $1k - $100k
0.60%*$100k*-12 Month Certificate
OTHER TIERS: 0.55% $1k - $100k
0.60%*$100k*-18 Month Certificate
OTHER TIERS: 0.55% $1k - $100k
0.60%*$100k*-24 Month Certificate
OTHER TIERS: 0.55% $1k - $100k
0.55%*$100k*-9 Month Certificate
OTHER TIERS: 0.50% $1k - $100k
0.50%*$100k*-6 Month Certificate
OTHER TIERS: 0.45% $1k - $100k
0.50%$100-12 Month EasyStart Certificate
0.50%$50-18 Month Easy Start Certificate
0.50%$50-24 Month Easy Start Certificate
0.45%*$100k*-3 Month Certificate
OTHER TIERS: 0.40% $1k - $100k
0.40%$5-3 Month - 5 Year SaveFirst Account
0.40%$50-6 Month Easy Start Certificate

Navy Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.95%*$100k*-5 Year IRA
OTHER TIERS: 0.90% $1k - $100k
0.95%*$100k*-7 Year IRA
OTHER TIERS: 0.90% $1k - $100k
0.95%*$100k*-5 Year ESA
OTHER TIERS: 0.90% $1k - $100k
0.95%*$100k*-7 Year ESA
OTHER TIERS: 0.90% $1k - $100k
0.75%*$100k*-3 Year IRA
OTHER TIERS: 0.70% $1k - $100k
0.75%*$100k*-4 Year IRA
OTHER TIERS: 0.70% $1k - $100k
0.75%*$100k*-3 Year ESA
OTHER TIERS: 0.70% $1k - $100k
0.75%*$100k*-4 Year ESA
OTHER TIERS: 0.70% $1k - $100k
0.60%*$100k*-12 Month IRA
OTHER TIERS: 0.55% $1k - $100k
0.60%*$100k*-18 Month IRA
OTHER TIERS: 0.55% $1k - $100k
0.60%*$100k*-24 Month IRA
OTHER TIERS: 0.55% $1k - $100k
0.60%*$100k*-12 Month ESA
OTHER TIERS: 0.55% $1k - $100k
0.60%*$100k*-18 Month ESA
OTHER TIERS: 0.55% $1k - $100k
0.60%*$100k*-24 Month ESA
OTHER TIERS: 0.55% $1k - $100k
0.55%*$100k*-9 Month IRA
OTHER TIERS: 0.50% $1k - $100k
0.55%*$100k*-9 Month ESA
OTHER TIERS: 0.50% $1k - $100k
0.50%*$100k*-6 Month IRA
OTHER TIERS: 0.45% $1k - $100k
0.50%*$100k*-6 Month ESA
OTHER TIERS: 0.45% $1k - $100k
0.50%$100-12 Month EasyStart IRA
0.50%$50-12 Month Easy Start ESA
0.50%$50-18 Month Easy Start IRA
0.50%$50-24 Month Easy Start IRA
0.50%$50-24 Month Easy Start ESA
0.50%$50-18 Month Easy Start ESA
0.45%*$100k*-3 Month IRA
OTHER TIERS: 0.40% $1k - $100k
0.45%*$100k*-3 Month ESA
OTHER TIERS: 0.40% $1k - $100k
0.40%$50-6 Month Easy Start IRA
0.40%$50-6 Month Easy Start ESA
Locations

Availability

New York Area

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