Navy Federal earns MONEY Magazine’s ‘Best Banks’ list

by. Michelle A. Samaad

Highlighting its business, money market savings and checking accounts, MONEY Magazine has named Navy Federal Credit Union to its “Best Banks 2013” annual list.

The publication looked at six military-oriented financial institutions and recognized Navy Federal as the best, highlighting the credit union’s free checking and savings accounts for active duty personnel and its free checking for small business members, according to the $54 billion credit union in Vienna, Va.

MONEY highlighted the following three Navy Federal accounts as standouts for military members and their families:

  • NFCU Flagship Checking – allows members to earn tiered dividends based on account balances, and receive ATM fee rebates.
  • Money Market Savings – offers 0.5% on $25,000+ with no term restrictions.
  • Business Checking – three different accounts (Business, Business Plus, Premium Business) with dividends earned daily, no or low monthly maintenance fees, and mobile and scan deposits.

“We’re proud to offer free checking at a time when the industry is trending in the opposite direction,” said Michael Christian, manager of savings and checking products at Navy Federal. “Our members’ bottom line is most important to us, and free checking keeps their money in their name, not ours.”

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