What is the best choice for banking in the Navy?
I recently joined the Navy, and I am curious as to what the best banking option is. I currently have an account with chase.
- Bob PLv 67 years agoFavorite Answer
NFCU or a local Credit Union where you are at.
- Ultima vyseLv 67 years ago
There are two great choices:
Navy Federal Credit Union. I've banked with them since boot camp. I've been in the Navy for almost seven years now, have only been stationed at Army bases, and there is ALWAYS a Navy Federal nearby. I prefer them for banking because they have actual physical locations you can go to.
The other awesome choice is USAA. They only provide online (no physical locations) banking services (which are actually probably all you need these days), but they also provide many different insurance services (property insurance, auto insurance, etc.), have great car buying services, investing services, etc.
My auto insurance is through them, and the rates are lower than any other company I looked in to. ALSO... You get discounts for using multiple services. So if you bank with them and have auto insurance, you'll pay even less per month on your insurance than someone who just has the insurance.
They both pay off a certain amount of ATM fees per month, too. That means that at the end of the month, your ATM fees will get paid off.
Finally, both USAA and Navy Federal were ready to stand by the servicemembers when the government threatened to shut down a few years ago (and this year when it actually did shut down this year). They were poised and ready to make pay cheques into active duty banking accounts if the government wasn't ready to.
EDIT: They both have amazing customer service, from what I've experienced.
- JamesLv 57 years ago
I've heard bad things about Chase. I've never banked with them so it's not personal experience or anything. If you're happy with them go ahead and keep those accounts. I'd use the Navy Federal Credit Union as my primary if I were you though. There are some pretty good advantages with a credit union.
- NWIPLv 77 years ago
Keep your account with Chase but if you want another account then Navy Federal Credit Union. They have branches on or near all Navy bases as well as now other branches, including those overseas. Many swear by USAA but they do not have many banks to go into so you must do everything online.
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- AJLv 77 years ago
With nearly every bank, including small banks, having a website and/or smartphone app, and the ability to do online banking and they all give out a debit card associated with either Visa or MasterCard and the fact that you will have direct deposit, it really doesn't matter what bank you use.
If you already have Chase, then I would just keep Chase.
- 7 years ago
Take a look at United Services Auto Association (USAA). They also have a banking arm and they are a huge company run by/for service people. Much more than their name appears to indicate. See USAA.comSource(s): Personal experience
- Noe FLv 47 years ago
Usaa or navy credit union. I have usaa an they are great