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Study reveals 10 Best Military Banks and Credit Unions of 2015

 

GO BankingRatesLos Angeles, CA – Two in five U.S. military members have a difficult time paying their monthly bills, 38 percent of military homeowners have an underwater mortgage and more than a third use risky borrowing methods like payday loans to get fast cash1.

GO BankingRates Releases Study of the 10 Best Military Banks and Credit Unions (GOBankingRates)

To help connect service members and their families with financial institutions that offer catered products and services for their unique needs, www.GOBankingRates is revealing its list of the 10 best military banks and credit unions of 2015.

As part of its third annual “Best Banks” series, the personal finance site investigated and evaluated over 30 military financial institutions, with a methodology that considered the following criteria2:

  • 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

“What military members need out of their bank is drastically different than what the average consumer needs. For example, members of the armed forces often live overseas, so they’ll want low foreign transaction fees. They often travel, so they need an extensive ATM and branch network. They might be transitioning back into civilian life, and would benefit from financial education resources to aid them with the change,” said Casey Bond, GOBankingRates’ managing editor. “The only financial institutions that can truly understand and serve these needs are banks and credit unions that have a strong history of military service, like the ones on this list.”

10 Best Military Banks and Credit Unions of 2015:

Navy Federal Credit Union
Arkansas Federal Credit Union
Andrews Federal Credit Union
RBFCU
Fort Knox Federal Credit Union
USAA Federal Savings Bank
Langley Federal Credit Union
First-Citizens Bank & Trust Company
Tyndall Federal Credit Union
Air Force Federal Credit Union

See the list, reviews and insights here.

About GOBankingRates

GOBankingRates.com is a leading portal for personal finance news and features, offering visitors the latest information on everything from interest rates to strategies on saving money, managing a budget and getting out of debt. Its editors are regularly featured on top-tier media outlets, including U.S. News, Business Insider, Daily Finance, Huffington Post and more.

It also specializes in connecting consumers with the best financial institutions and interest rates nationwide.

1 FINRA Investor Education Foundation, “Financial Capability in the United States,” December 2013
2 For a complete methodology, including weighting, visit GOBankingRates.


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