The best banks and credit unions for military members and their families, February 2021

The best banks and credit unions for military members and their families, February 2021

February 1, 2021

USAA; Navy Federal Credit Union; Pentagon Federal Credit Union; Chase; Security Service Federal Credit Union; Alyssa Powell/Business Insider

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The best banks and credit unions for military members and their families

We’ve provided an overview of our favorite banks and credit unions for military members and families here. Scroll down to read our breakdown of each institution’s pros and cons.

BankSavings APYWhy we like itNext steps
USAA
0.05% to 0.35% APYStrong digital bankingLearn more
Navy Federal Credit Union
0.25% to 0.40% APYBranch locationsLearn more
Pentagon Federal Credit Union
0.55% APYAccount interest ratesLearn more
Security Service Federal Credit Union
0.05% APYPartners with other credit unions for more branchesLearn more
Service Credit Union
0.25% to 5.00% APYDiscounts on loansLearn more
Chase Total Checking®
0.01% to 0.05% APYDebt forgivenessLearn more

A good military bank should make it easy for you to access your money, loans, and investments from wherever you are in the world. It should also provide special incentives for military members and families, such as discounted loans or high interest rates on bank accounts.

Learn more about our top picks for banks and credit unions for military members and their families. Each one is federally insured to keep your money safe, and has competitive perks for the military.

Our expert panel for this guide

We consulted banking and financial planning experts — including Tania Brown, a veteran of the US Army — to inform these picks and provide their advice on finding the best bank accounts for your needs. You can read their insights at the bottom of this post.

We’re focusing on what will make a bank most useful for military families, including branch and ATM locations, savings rates, variety of military products, and more.

Learn more about our top picks

USAA

USAA Classic Checking Account

USAA USAA Classic Checking AccountNavy Federal Credit Union Navy Federal Free Active Duty Checking™ AccountPentagon Federal Credit Union Pentagon Federal Credit Union Premium Online Savings AccountSecurity Service Federal Credit Union Security Service Power Checking AccountService Credit Union Service Everyday Checking AccountChase Chase Premier Plus Checking℠American Express American Express® High Yield Savings AccountChase Chase Savings℠CIT CIT Bank Savings Builder High Yield Savings AccountHSBC HSBC Premier Checking Account ($600)

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