--- title: Best Banks and Credit Unions for Military Members for 2027 description: The best bank accounts for 2027 for military members, veterans and their families boast free access to online banking, low fees and more. authors: - name: Kat Tretina role: Contributor url: https://money.com/author/kat-tretina/ education: B.A in English and Communications from Elizabethtown College, M.A. in Communications from West Chester University at_money_since: 2025 articles: 31 covers: - Banking - Insurance - Loans former_staff: true editors: - name: Jordan Chussler role: Editor, Investing and Banking url: https://money.com/author/jordan-chussler/ bio: Jordan is an investment editor who specializes in topics ranging from traditional equities, retirement savings and income investing to alternative assets and commodities, specifically focusing on gold and other precious metals. He combines his personal interests and professional experience in finance and education to help readers increase their financial literacy and make better investment choices. Jordan is a Certified Personal Finance Counselor. education: Lynn University certifications: Certified Personal Finance Counselor at_money_since: 2023 articles: 133 covers: - Banking - Credit - Credit Cards - Economy and Politics - Housing - Identity Theft - Insurance - Investing - Loans - Mortgages - Personal Finance - Professional Services - Retirement also_seen_in: - Weiss Ratings - 24/7 Wall Street - Better Investing - Yahoo Finance - Nasdaq - Investing.com - Marketbeat - MSN Money social: - https://www.linkedin.com/in/jordan-chussler-b3597811/ published: '2026-10-14T14:28:20.000Z' modified: '2026-10-14T18:02:09.000Z' section: Banking tags: - best banks word_count: 981 canonical: https://money.com/best-military-banks-and-credit-unions/ type: Article source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Best Banks and Credit Unions for Military Members for 2027](https://img.money.com/2024/10/Best-Banks-2024-Military-mbci_9st04__8ot54y.png?w=1012&h=569&crop=1) ## Our Partners ![View Rates](https://s3.consumersadvocate.org/prd/image/image/19227/medium_5c3a0d96-3da5-45d8-8e99-d58f043e9433.png) Our Partner [View Rates](https://money.com/go/43b97cfc235c?ap_referrer=%2Fbest-military-banks-and-credit-unions%2F&bidid=4223426600&pmeta=p129-c561-u26976&ptid=683382215&ptoken=16b0ffe87ad5502125222e95f3080dd2&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215) **Up to 3.30% APY² with eligible direct deposit or $5,000 or more in qualifying deposits during the 31-day evaluation period.** - Limited Time Offer - +0.90% Boost on Savings APY to up to 4.20% for up to 6 months on new accounts. Terms apply.8  - $0 min. balance to earn APY - Open Checking & Savings Accounts with 1 Sign Up - Up to 2-Day-Early Paycheck3 - Access additional FDIC insurance up to $3M on deposits4 - No Account Fees5 & No-fee Overdraft Coverage6 \*Terms Apply **\[AFFILIATE LINK: Open SoFi Account Today\]** * * * ![View Rates](https://s3.consumersadvocate.org/prd/image/image/40232/medium_cfa5e5b0-4ccd-4dc6-814f-910bb4151eb3.webp) Our Partner [View Rates](https://money.com/go/2adc5ddc11bb?ap_referrer=%2Fbest-military-banks-and-credit-unions%2F&bidid=4223426602&pmeta=p129-c561-u26976&ptid=683382215&ptoken=bbc1d7b4cbe489908bf7596b873f1a5c&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215) **Earn 4.25% APY\* for 6 months with $5k min. balance when you open a Platinum Savings Account** - $5,000 min. balance to earn top APY - $100 minimum deposit to open an account - No account opening or monthly service fees - Member FDIC \*Boosted rate for 6 months; 3.75% APY after. \*Enter promo code BOOST50 for APY bonus. Rate as of 9/29/2026. **\[AFFILIATE LINK: View CIT Bank Offer\]** * * * ![View Rates](https://s3.consumersadvocate.org/prd/image/image/40546/medium_c4df0da9-32d5-4f39-9172-e02e18571a8d.webp) Our Partner [View Rates](https://money.com/go/72e202dce38c?ap_referrer=%2Fbest-military-banks-and-credit-unions%2F&bidid=4223426604&pmeta=p129-c561-u26976&ptid=683382215&ptoken=e935d7b30540384705be6e5c53250852&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215) **Earn Up to 4.35% APY (inclusive of 0.35% APY Boost)\*\*** - $500 minimum opening deposit - Keep more of your money with no fees - Trusted device security with quick face or fingerprint login - Member FDIC, Santander Bank, N.A. Rates as of 10/14/2026 \*\*New Customers only. Terms Apply. Santander Bank, N.A. Member FDIC. The APY Boost will apply for (6) months from the date the account is opened. **\[AFFILIATE LINK: View Openbank Offer\]** ## Key Takeaways - Navy Federal Credit Union (NFCU) claims the top spot in Money's list of Best Banks and Credit Unions for Military Members in 2027. Recognized as the best overall option for the second consecutive year, NFCU offers versatile perks like one-day early pay through Free Active Duty Checking, competitive APYs for its CDs and free financial management tools. - Institutions stand out in tailored categories, including USAA for extended CD terms (30 days to seven years) and high APYs, Service Credit Union for its 10% APY Deployed Warrior Savings Account and Armed Forces Bank for recruit-focused checking and education tools. - Money's rankings assessed leading financial institutions using factors like CD/savings rates, monthly fee waivers, deployment perks, customer satisfaction scores (JD Power/Trustpilot/BBB) and baseline comparisons against national FDIC averages. There are roughly 17 million active-duty service members and military veterans in the U.S., according to data from the U.S. Department of Defense and U.S. Census Bureau. As a member of the military or veteran, you may be eligible for special banking perks and benefits. To help you find the right fit for your financial needs, Money evaluated leading banks and credit unions with military-specific account options. We evaluated their rates, fees and benefits for service members and their families. Based on our analysis, these are the best banks and credit unions for members of the military, their families and veterans for 2027: - [**Navy Federal Credit Union**](#navy)**:** Best Overall - [**USAA**](#usaa)**:** Best for CDs - **[Service Credit Union](#service):** Best for Active-Duty Service Members and Deployment Benefits - [**Armed Forces Bank**](#armed)**:** Best for New Recruits - **[Chase](#chase):** Best for Branch and ATM Access *\*Rates and APYs are subject to change. All information provided here is accurate as of Oct. 9, 2026.* ## Start saving today with a SoFi®️ High-Yield Savings Account. ### A High-Yield Savings Account keeps your money organized and separated so there's no confusion when it comes time to spend. [Open an Account Today](https://money.com/pr/zf15b77dd573?ap_referrer=%2Fbest-military-banks-and-credit-unions%2F) ## Best Overall: Navy Federal Credit Union ![](https://s3.consumersadvocate.org/prd/image/image/15435/large_213b3cfc-6851-482c-a0bd-8900ef430810.png) [SEE OFFER](https://money.com/pr/n8f3a0f59320?ap_referrer=%2Fbest-military-banks-and-credit-unions%2F&url=) For the second year in a row, Money chose [Navy Federal Credit Union](https://money.com/pr/g6040d7e4831?data-trk-company=navy-federal-savings-account&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=g6040d7e4831&encoded_id=) (NFCU) as the best overall option for service members, their families and veterans. NFCU has a range of account options, including checking accounts, savings accounts, money market accounts and share certificate accounts — the credit union equivalent of a certificate of deposit (CD). NFCU has free checking options, including Free Active Duty Checking, which allows service members to receive their military pay one day sooner. Additionally, you can grow your money faster with a NFCU certificate. Depending on the term you select, you could earn an annual percentage yield (APY) as high as 4%. The credit union also offers the My MakingCents tool, which makes it easier for service members and veterans to manage their money. The free platform helps you track your spending, create a budget and monitor your credit. You can even view all of your bank and investment accounts in one place. **Pros** - Free checking account options - Interest-bearing checking accounts available - Free budgeting and financial management tools **Cons** - Relatively low APYs on savings accounts - Money market account balances of at least $2,500 required to earn interest - $1,000 minimum for share certificates ## Best for CDs: USAA Federal Savings Bank ![](https://s3.consumersadvocate.org/prd/image/image/7486/large_7813429c-6c2e-4738-8c94-b8509e4dc6a2.png) [Sign Up](https://money.com/pr/a73dd7819fe2?ap_referrer=%2Fbest-military-banks-and-credit-unions%2F&url=) Many banks and credit unions have CD or share certificate terms no longer than five years. With terms ranging from 30 days to seven years, [USAA](https://money.com/pr/le3f2077ef12?data-trk-company=usaa-savings-acounts-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=le3f2077ef12&encoded_id=) offers a wealth of options, making it once again Money's choice for the best bank for CDs for members of the military and veterans. Its standard CD requires a $1,000 deposit and provides an APY up to 3.51% — a significantly better rate than the national average for all CDs. USAA also offers jumbo and super jumbo CDs for those who have larger sums available, and those accounts can earn even higher APYs. Additionally, USAA offers free checking account options, and it also has accounts for teens and kids to help you teach your children about managing their money. **Pros** - Longer-than-usual range of CD terms - Higher-than-average APYs for CDs - Jumbo and super jumbo CDs available **Cons** - $1,000 minimum CD deposit requirement - No money market accounts available - $1,000 minimum deposit requirement for high-yield savings account ## Best for Active-Duty Service Members and Deployment Benefits: Service Credit Union ![](https://s3.consumersadvocate.org/prd/image/image/32146/large_22f4706c-cddf-4f67-b00e-5d5ca653b657.webp) [View Rates](https://money.com/pr/s5e538adadc1?ap_referrer=%2Fbest-military-banks-and-credit-unions%2F&url=) For the second year in a row, [Service Credit Union](https://money.com/pr/n0489dd5a71f?data-trk-company=service-credit-union-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=n0489dd5a71f&encoded_id=) is Money's choice for the best bank or credit union for active-duty service members. With its Deployed Warrior Savings Account, you can earn 10% APY on balances up to $10,000. To qualify, you must be an active-duty service member serving in a designated combat zone. There's no minimum deposit requirement for this account. Service Credit Union also offers share certificates with high APYs, and it has an unusually low deposit requirement of just $250. Service Credit Union offers 24/7 customer support and access to over 85,000 ATMs worldwide. Additionally, it operates 37 branches in the U.S. and 14 branches on military bases in Germany. Service Credit Union has more than 5,000 shared branches worldwide, too, so you can get in-person help when you need it. **Pros** - High APYs for active-duty service members deployed in combat zones - Low minimum deposit for share certificates - Branch access, including on military bases **Cons** - Monthly service fees on some accounts if your balance falls under a certain level - Relatively low APYs on savings accounts - Money market account balance of $2,500 or more required to earn interest ## Best for New Recruits: Armed Forces Bank ![](https://s3.consumersadvocate.org/prd/image/image/25693/large_bf68d3fa-8738-40e0-8528-3c26d0bdc0c8.png) [View Rates](https://money.com/pr/a3e7bbaf178b?ap_referrer=%2Fbest-military-banks-and-credit-unions%2F&url=) If you're a new military recruit who is 17 or older, [Armed Forces Bank](https://money.com/pr/d1b52c18e59e?data-trk-company=armed-forces-bank-savings-accounts-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=d1b52c18e59e&encoded_id=) has specialized accounts and tools for you. Its Recruit Access Checking account has no minimum balance requirement, and if you sign up for direct deposit, there are no monthly fees. With this account, you can access your military direct deposits up to one day early, and you can make withdrawals at over 40,000 fee-free ATMs. Armed Forces Bank also has financial education tools for new recruits and active-duty service members. You can contact a financial education specialist for assistance or take advantage of digital tools like budgeting calculators and informational guides. **Pros** - Specialty accounts for new recruits - No-fee checking accounts available - Round-up savings tool available **Cons** - Low APY on savings accounts - Monthly fee on savings and money market accounts - Limited CD terms ## Best for Branch and ATM Access: Chase ![](https://s3.consumersadvocate.org/prd/image/image/40459/large_31853ecb-e791-49bb-be96-bb2f04daa90d.webp) [SEE OFFER](https://money.com/pr/d828e7d5699a?ap_referrer=%2Fbest-military-banks-and-credit-unions%2F&url=) Some banks have deprioritized brick-and-mortar locations as online banking capabilities have expanded. But [Chase](https://money.com/pr/i7be8f252370?data-trk-company=chase-savings-accounts-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=i7be8f252370&encoded_id=) stands out because it has actually expanded its branch network. For service members and veterans who prefer in-person help or who need to deposit cash often, the ability to visit a physical branch is a major benefit. You can visit one of Chase's 5,000 brick-and-mortar bank locations, or withdraw or deposit money at one of its 14,000 ATMs. Active-duty service members and veterans can also qualify for a monthly fee waiver on Chase Premier Plus Checking accounts, and active-duty service members can score fee-free incoming or outgoing wire transfers. **Pros** - Extensive branch and ATM networks - Fee waiver on Chase Premier Plus Checking accounts - No fees on incoming or outgoing wire transfers for active-duty service members **Cons** - No money market accounts - Lower-than-average APY on savings accounts - Monthly maintenance fees apply to savings accounts ## FAQs ### What benefits do banks and credit unions offer members of the military? Banks offering accounts for members of the military often provide benefits including early access to paychecks, VA loan benefits with no down payment requirements and competitive interest rates, automatic ATM fee refunds and special deployment assistance like temporary loan deferments. ### How do banks and credit unions help service members during deployments? Mobile banking features, 24/7 global customer service and generous out-of-network ATM fee reimbursements are examples of benefits commonly offered to military members through banks and credit unions. Additionally, these institutions may allow service members to set up power of attorney (POA) designations, freeze card transactions and pause loan payments without penalty during overseas deployments. ### Can I keep my account if I leave the military or complete my service? Yes, once you join a bank or credit union that offers accounts to members of the military, you typically remain a member for life even after leaving active duty, retiring or transitioning back to civilian status. Additionally, immediate family members who joined under your eligibility are able to retain their accounts. ## How we chose the best banks and credit unions for members of the military for 2027 To select the best banks and credit unions for active-duty service members and veterans for 2027, Money evaluated leading military-focused banks based on their consolidated assets and compared their account options, interest rates, fees, ATM access, customer service ratings, mobile apps and online tools. We considered factors like bank rankings in the JD Power U.S. Direct Banking Satisfaction and Digital Banking Studies, as well as customer reviews on Trustpilot. For this list, we prioritized banks and credit unions that offer special perks or benefits for service members, veterans and military families, such as fee waivers or APY bonuses. We also focused on banks that offered higher-than-usual APYs on deposit accounts. As a baseline, we compared bank rates to the national averages as reported by the FDIC: - **Savings:** 0.38% - **Interest-bearing checking:** 0.07% - **Money market accounts:** 0.63% - **12-month CD:** 1.71% AI was not used in the sourcing of Best Banks data, the analysis of that data or the content subsequently produced by Money's editorial team. You can [read our full methodology here](https://money.com/best-banks/methodology/). ## Save money the right way with a High-Yield Savings Account ### For an easy and effective way of saving money, a High-Yield Savings Account is a good bet. Just click below and open your account today. 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