VIENNA, Va.—The $181-billion Navy FCU has been named a Best Bank for Small Businesses by MONEY.com.
The credit union was recognized in the category of “best rates,” Navy Federal said.
In announcing the award, MONEY.com emphasized Navy Federal’s great rates and debit card perks. Business members, it noted, have the option to open checking accounts with no fees, which even earn dividends, and debit cards like GO BIZ, which offers a zero Liability policy for confirmed unauthorized transactions, Navy Federal said.
“We are honored to be recognized as one of the nation’s top financial institutions for small business owners,” said Will Scott, vice president of Navy Federal’s business solutions. “We offer best-in-class banking products and unparalleled personal service to Veteran business owners and other members of the military community. Our members are the mission, and it shows.”
To arrive at its list of best banks, MONEY.com analyzed hundreds of the largest retail and online banks, regional and state banks, and credit unions. Researchers assessed dozens of data points, such as account options, minimum balance requirements, fees, annual percentage yield (APY) rates, perks, and branch and ATM access. They prioritized banks with no-fee business checking options and those that offer members robust mobile apps, Navy Fed noted.