LOS ANGELES—Credit unions dominate a list of the “Best Military Banks” of 2015.
Navy FCU is ranked number one, beating out USAA, which is ranked sixth.
As part of its 2015 “Best Banks” series, GOBankingRates investigated more than 30 military banks and credit unions, evaluating each on a number of criteria that matter to military families:
- A free checking account option
- Low-fee or free ATM use and ATM fee reimbursement
- Yields on savings accounts and one-year CDs
- Scope of products and services
- A mobile app and remote deposit
- Financial education programs
- BauerFinancial Star Ratings for overall financial strength
Go Banking pointed out that Navy “provides comprehensive personal and business financial services to all its members, including savings and checking accounts, retirement planning, insurance coverage, loans and lines of credit. Navy Federal Credit Union’s rates also top other military financial institutions; its 0.25% APY is the second-best savings rate and its 0.95% APY is the best one-year CD rate offered by these top 10. It also offers military member exclusives like up to $20 in ATM fee rebates, 100 percent VA financing on mortgages, APR discounts and competitive interest rates on a variety of products.”
Here are the top ten:
- Navy FCU, Vienna, Va.
- Arkansas FCU, Jacksonville, Ark.
- Andrews FCU, Suitland, Md.
- Randolph-Brooks FCU, Live Oak, Texas
- Fort Knox FCU, Radcliff, Ky.
- USAA Federal Savings Bank, Fayetteville, N.C.
- Langley FCU, Newport News, Va.
- First-Citizens Bank & Trust Company, Austin, Texas
- Tyndall FCU, Spanish Fort, Ala.
- Air Force FCU, San Antonio