Best Banks and Credit Unions for Military Members for 2026

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.

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.

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.

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.

First Command offers numerous saving 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.

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.

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.

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.

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.

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