While most banks will work with military members for their financial needs, like military loans or credit cards for veterans,some are certainly better than others. With frequent moves, odd work hours, working overseas, traveling quite a bit and many other things making military service members unique, financial institutions don’t always cater to the military.
Simple ATM withdrawals, check deposits and transfers shouldn’t be complicated. In addition, family members may need access to special services to keep things running smoothly.
Finding a bank that will cater to the U.S. military members is important. Some will provide perks, better interest rates, free services and even discounts on things, such as tax preparation or local attractions. Below you will find many of the top choices for U.S. military members when it comes to banks and financial institutions.
USAA Federal Savings Bank
Open to all active, retired and honorably discharged military members, the USAA Federal Savings Bank provides plenty of benefits. It’s also open to students in advanced ROTC, officer candidates and others.
As a member at the USAA Federal Savings Bank, military members and families gain access to many features. It’s a restricted membership open to military service members and their families. Very few of the products they offer are available for civilians.
Members gain access to special rates on many things, such as ADT home monitoring and vehicle storage. This specific bank caters to military members and provides many benefits.
Air Force Federal Credit Union
While this FCU has Air Force in the name, it’s actually open to any retired military personnel, civilian employees and many others. Many common services are offered including debt management, tax preparation, financial planning and more. They also offer discounts on Schlitterbahn Waterpark and Sea World tickets, along with offers from General Motors and Sprint. More than 30,000 free ATMS are a part of their network and they also provide services over the phone in a number of countries.
Navy Federal Credit Union
Open to more than just the Navy, the Army, Marines, Air Force, Navy, Department of Defense, Reservist and many others can join the Navy Federal Credit Union. This FCU offers many features including both personal and business services. Savings and checking accounts, insurance coverage, lines of credit, loans, retirement planning and many other services are offered. The savings rates are some of the best you’ll find and they also offer good one-year CD rates. The Navy FCU also offers rebates on ATM fees and VA financing options.
Langley Federal Credit Union
A Virginia-based financial cooperative, the Langley FCU is open to employees of local businesses and organizations, such as a local church or the Homeowner’s Association. Membership can also be gained through family or household sponsorship.
Both personal and business products are offered that cater to the U.S. military members in the area. They offer free-interest bearing accounts, loan discounts, insurance, tax services and much more. There are even many free financial resources military service members can take advantage of from the Langley Federal Credit Union.
Arkansas Federal Credit Union
Employees of the Little Rock Air Force Base, Fort Chaffee, Camp Robinson, Camp Pike, the State of Arkansas and many other can join the Arkansas Federal Credit Union. For military service members, this FCU offers plenty of great options from health savings accounts to CDs to IRAs and more. Shared branch services are offered for out-of-state transactions.
Randolph-Brooks Federal Credit Union
Membership for all active military, the RBFCU provides plenty of benefits for members. You can also join if you’re a student of a local school, Texas homeowner, a member of many churches or one of many other qualifications. They have more than 2,000 ways you can qualify to join.
The RBFCU offers many personal and business services including free notary, investment assistance, loans and more. They even offer dental benefit plans and services to help military members transition to civilian life.
Fort Knox Federal Credit Union
Membership is available for many employer groups and those living in the service area. Active duty military, reservists, guard, civil service employees, retire military and others can also join. Branch locations are found on the base and off the base with eight in Meade and Hardin Counties and six throughout Central Kentucky. More than 5,000 credit union service center are found across the United States and over 130,000 free ATMs are found across the globe.
Fort Knox FCU offers rebates on ATM fees, 24/7 online banking options and many other services. They provide discounts for a number of things, such as education tools and money management learning.
First-Citizens Bank & Trust Company
Some accounts at the First-Citizens Bank & Trust Company are only available to active-duty military member, full-time guard members and full-time reserve members. Other accounts may only be available for officers. The bank has some unique restrictions on membership.
Compared to some of the banks on the list, this one is more accessible with 570 branches across 18 different states. Many military-specific benefits are available with free checking and savings, no balance requirements, unsecured loans up to $1,000, CDs, credit card loyalty programs, home loans and more. They cater specifically to the military and provide plenty of great benefits.
Tyndall Federal Credit Union
Open to civilians and service members, Tyndall Federal Credit Union provides membership for many. They have a number of qualification options and offer competitive rates for CDs and loans. Some benefits fit better for military members, but all members gain access to discounts from Sprint, IRAs, youth accounts, notary services, educational seminars and more. Branches are found in Panama City and the surrounding area of Florida. However, Allpoint has been added to the ATM network, which gives members access to more than 55,000 surcharge-free ATMs found across the globe.
There are several great banks and federal credit unions specifically for military members. While not all of the options on the list are open to just military service members, they all provide benefits for those in the military and veterans. If you’re a service member and not sure where to do your banking, these options provide great choices.