Best Banks and Credit Unions for Military Members for 2026
Earn up to 4.30% APY*
- Limited Time Offer - New accounts earn a 0.70% APY boost to 4.30% for up to 6 months with eligible direct deposit*
- $0 min. balance to earn APY
- Open Checking & Savings Accounts with 1 Sign Up
- Up to 2-Day-Early Paycheck3
- FDIC Insured up to $250k plus up to $3M in supplemental insurance4
- No Account Fees5 & No-fee Overdraft Coverage6
*Terms Apply
1. Up to $300 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incomingwire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
8. 0.70% Savings APY Boost
Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Enroll in SoFi Plus between 9/18/25 and 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/sofi-plus SoFi Bank, N.A. Member FDIC.
Earn 4.00% APY* with Barclays' Tiered Savings Account
- $0 Min. Balance to Earn APY on Barclays' Tiered Savings
- No Monthly Maintenance Fees
- Easy Direct Deposits & Online Transfers
- Deposits are FDIC Insured
*Rate as of 11/19/2025
* Barclays Tiered Savings Annual Percentage Yields (APYs) are accurate as of 01/13/2025 and may change at any time without prior notice, before or after the account is opened. The APYs are determined by the Balance Tiers (Tiers) and the amount deposited. The same rate may apply to multiple Tiers and Tiers may change without notice. APY is calculated based on the Tier into which the end of day account balance falls. Fees could reduce the earnings on the account. No minimum balance to open, but for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01. Please see the Compare Account Page for current Tier and APY information. The APY for the Barclays Tiered Savings account for balance tiers greater than $250,000 are currently 10X the national average of 0.46% APY, based on the national average of savings account rates published in the FDIC's National Rates and Rate Caps, accurate as of 09/16/2024.
Earn 3.75% APY* with Platinum Savings
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With a Balance of $5,000 or More*
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Earn 0.25% APY with a Balance of Less than $5k*
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$100 Minimum Deposit to Open Account
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No Account Opening or Monthly Service Fees
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CIT Bank Account is FDIC Insured
*For complete list of account details and fees, see our Personal Account disclosures
1 Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-ofday account balance. *APYs — Annual Percentage Yields are accurate as of November 20, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
2 Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of November 17, 2025.
Military service members and veterans are an elite group; according to the U.S. census Bureau, there are 15.8 million veterans in the U.S., making up about 6% of the total adult population. Members of the military have specialized needs when it comes to money management. Choosing a bank or credit union that recognizes that and offers products and services that meet your needs is important, whether you’re stationed at home, deployed overseas or approaching retirement.
To help you find the right financial institution, Money researched leading banks and credit unions and evaluated their rates, fees and support options for military families. Based on their offerings, fees and customer service, here are our choices for the best banks and credit unions for military members and veterans for 2026:
- Navy Federal Credit Union – Best Overall
- USAA – Best for CDs
- Armed Forces Bank – Best for Checking
- First Command – Best for Savings
- Security Service Federal Credit Union – Best for Added Perks
- Service Credit Union – Best for Deployment Benefits
- PNC – Best for Fee Waivers
*Rates and APYS are subject to change. All information provided here is accurate as of Oct. 14, 2025.
Best Overall: Navy Federal Credit Union
Navy Federal Credit Union (NFCU) offers products and services designed to benefit military service members and civilians working with the U.S. Department of Defense. Membership discounts offered to Active Duty members include no monthly maintenance fee, ATM reimbursement (up to $20 per statement cycle) and early access to direct deposit.
Additionally, NFCU offers loan discounts to Active Duty and veterans, 100% financing VA home loan options and featured offers including a $200 bonus for refinancing an auto loan of at least $5,000, share certificates with APYs up to 4.15% and special discounts on insurance, vehicles and trust and will preparation services. Through the NFCU, military service members, veterans and their families can take advantage of banking products with low fees and minimum deposit requirements and competitive rates.
- Interest-bearing checking accounts
- Higher-than-average APY on share certificates and money market accounts
- Exceptional customer satisfaction ratings
- Limited membership eligibility
- Low APY on savings accounts
Best for CDs: USAA Bank
USAA offers CD terms ranging from 30 days to seven years. Many of the APYs offered are higher than the national average. The banks super jumbo CDs and 91-day CDs, for example, currently offer a 2.75% APY. For military members looking to build a CD ladder emergency fund, the bank can be a good choice. USAA also offers a wide range of other banking products and services. As a member-owned institution, you must be U.S. military member, veteran, pre-commissioned officer or the spouses or child of military members to qualify. However, once approved to join, military members can access CD accounts and earn competitive APYs with a minimum deposit of just $1,000.
In addition to CDs, USAA offers various banking products and services, including checking and savings accounts, loans and credit cards. Membership also provides access to discounts on auto and home insurance and low-cost life and health insurance policies. Membership also comes with discounted Universal Studios and Walt Disney World tickets for fun family excursions. However, not everyone is eligible for membership, and USAA doesn't offer money market accounts.
- Above-average CD rates for many terms
- Relatively low CD deposit requirement
- Wide ATM network with more than 100,000 fee-free machines
- Early pay with direct deposit
- Limited membership eligibility
- Shorter-term CDs have low APYs
- Does not offer money market accounts
Best for Checking: Armed Forces Bank
For the second consecutive year, Armed Forces Bank is Money's pick for the best checking account for members of the military. The bank offers its Access Freedom Checking account with no monthly service fees, no minimum balance requirements and no-fee money orders. It also provides early pay for military direct deposits. This checking account also offers access to over 38,000 surcharge-free ATMs across the U.S. Although it’s called Armed Forces Bank, civilians nationwide can also open accounts with this institution.
The checking account choices offer different perks depending on your goals. For example, an investment checking account provides interest and unlimited ATM fee waivers. However, you need $100 as an initial deposit. Alternatively, you can use the Access Freedom Checking, which doesn’t have account maintenance fees, offers free money orders and comes with a lower initial deposit. Armed Forces Bank offers banking products, such as loans and CDs, in addition to checking accounts. The APYs on CDs and the money market account are above-average, but its savings accounts have lower rates than most.
- Early military pay with direct deposit
- Small opening deposit required
- No-fee money orders
- Fewer ATMs than some other networks
- Limited reimbursement for out-of-network ATMs
- Low APY on savings accounts
Best for Savings: First Command
First Command offers numerous savings options for military service members, veterans and their families. Those include money market accounts, CDs and individual retirement accounts (IRAs). The bank's money market accounts allow up to six fee-free transactions per month, no monthly maintenance fees, free overdraft protection and access to over 30,000 ATMs. First Command also offers competitive, tiered APYs.
The bank also provides account holders with $10 in out-of-network ATM reimbursements per month and free incoming wire transfers. However, in order to receive the highest APY for a First Command money market account, you will need to maintain a balance of at least $100,000. The bank's CDs include terms ranging from three-months to five years. To receive the highest APY for those savings instruments, you will also need a $100,000 deposit. Additionally, although the bank provides free overdraft protection, those without it will incur charges for insufficient funds.
- Free overdraft protection
- ATM network with 30,000 locations
- No monthly maintenance fees
- No traditional savings accounts
- High minimums to unlock the best APYs
- $29 fee for insufficient funds
Best for Added Perks: Security Service Federal Credit Union
Security Service Federal Credit Union is once again Money's pick for the bank with the best perfects for members of the military. It offers several perks associated with certain accounts, such as phone protection, zero-copay telehealth, credit monitoring and roadside assistance. Additionally, you can receive a TurboTax discount and access to financial education tools. Security Service Federal Credit Union also features a variety of banking products and access to investment services. The credit union focuses on people who live or do business in Texas, Colorado and Utah. Additionally, members of specific military branches or Department of Defense employees might be able to access the benefits of membership, which include a wide variety of perks based on the account you open.
Members receive the option to skip loan payments during certain times and have access to a network of more than 30,000 ATMs. If you have the Power Protected Checking account, in addition to those aforementioned perks, you can also access discounts at restaurants and on gas purchases. This account has a $9 monthly fee, but you can waive it by maintaining an average daily balance of $50,000. Other products and perks include CDs with higher-than-average yields and insurance savings. While the credit union doesn't assess overdraft fees for charges under $5, it charges $32.50 per item or transaction for amounts over $5.
- Access to perks, including phone protection, roadside service and zero-copay telehealth
- Above-average yields for CDs
- Shared branching and more than 30,000 fee-free ATMs
- No fee reimbursement for ATMs
- Must have a high balance to waive monthly maintenance fees
- Must meet field of membership requirements
Best for Deployment Benefits: Service Credit Union
Service Credit Union offers an array of benefits for members of the military, their families and veterans. But its Deployed Warrior Savings account stands out among the competition. If you are a an Active Duty service member who is currently serving in a combat zone as defined by the credit union, you may qualify for an annual savings APY of 10% with a deposit of up to $10,000.
There are no monthly fees for Service Credit Union's Primary Savings account, and there is only a $5 minimum opening balance. The credit union boasts more than 88,000 ATM locations around the globe, and its Dividend Checking account currently pays 0.15% APY but requires a $1,500 minimum balance to avoid service fees.
- 10% APY for members deployed in an active combat zone
- More than 88,000 worldwide ATM locations
- No monthly service fees for savings accounts
- High balance requirement for top APY
- Balances over $10,000 could be subject to lower APYs
- $1,500 checking balance requirement to avoid fees
Best for Fee Waivers: PNC
PNC Bank offers accounts to residents of all 50 states while operating 2,327 branches and 60,000 ATMs in 28 states. The bank features products ranging from checking, savings and credit cards to home loans, auto loans and retirement. But where it really stands out is with its offerings for members of the military.
PNC Bank waives its monthly checking account fees for member of the military who set up a direct deposit of $1,000 or more per month, significantly reducing the standard $2,000 direct deposit requirement for non-military customers. Additionally, the bank offers up to a $400 bonus for military members who are able to meet qualifying direct deposits of $5,000 or more with PNC's Virtual Wallet product.
- Checking account fees waived with direct deposit minimums
- Reduced direct deposit minimums for military members
- Up to a $400 bonus when requirements are met
- Relatively low APYs
- Minimum balance requirement for checking
- Overdraft fees
It's never too late to start saving — compare rates & start earning interest!
Up to 2-day-early paycheck
Earn up to 4.30% APY*
- Limited Time Offer - New accounts earn a 0.70% APY boost to 4.30% for up to 6 months with eligible direct deposit*
- $0 min. balance to earn APY
- Open Checking & Savings Accounts with 1 Sign Up
- Up to 2-Day-Early Paycheck3
- FDIC Insured up to $250k plus up to $3M in supplemental insurance4
- No Account Fees5 & No-fee Overdraft Coverage6
*Terms Apply
No monthly maintenance fees
- $0 Min. Balance to Earn APY on Barclays' Tiered Savings
- No Monthly Maintenance Fees
- Easy Direct Deposits & Online Transfers
- Deposits are FDIC Insured
*Rate as of 11/19/2025
Open an account in 5 minutes
- With a Balance of $5,000 or More*
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Earn 0.25% APY with a Balance of Less than $5k*
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$100 Minimum Deposit to Open Account
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No Account Opening or Monthly Service Fees
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CIT Bank Account is FDIC Insured
No hidden fees
Enjoy hassle-free banking and earn 4.20% APY* with no more hidden fees.
- Enjoy free monthly maintenance
- Watch your savings grow with daily compounded interest.
- Deposit anytime, anywhere with unlimited mobile check deposits.
- Deposits are FDIC-insured up to $250,000
*Rate as of 10/10/2025
How we chose the Best Banks of 2026
To determine our list of Best Banks for 2026, Money staff evaluated 273 of the largest retail banks, credit unions, regional and state banks, ranked by assets, and 20 of the most popular online banks. We then compared opening balance requirements, interest paid, fees and features to determine our top picks.
We researched leading financial institutions to identify the best banks for military members and their families for 2026. We compared banks and credit unions and evaluated their account options, eligibility requirements, rates, fees and deployment benefits. We placed particular emphasis on banks offering accounts designed to benefit military families, such as fee waivers or early military pay.
You can read our full methodology here.