5 best banks and credit unions for military (2025)
Many banks and credit unions tailor their products and services to better serve their customers. And some focus specifically on serving military personnel and their families.
We compared the top FDIC- and NCUA-insured banks and credit unions for military members, evaluating key metrics such as membership eligibility requirements, fees, customer experience, product choice, and more. (See our full methodology here.)
The following is our ranking of the five best banks and credit unions for military members, veterans, and their families in 2025. Read on to learn more about each one.
Pentagon Federal Credit Union (PenFed) serves more than 2.9 million members globally. It offers checking and savings accounts, credit cards, auto loans, home loans, and more.
PenFed offers VA loans with a 0% down payment option and no private mortgage insurance. It also gives back to military members and their families through the PenFed Foundation — a national nonprofit committed to empowering military service members, veterans, and their communities. Since 2001, the foundation has provided more than $50 million in financial support, impacting more than 140,000 military families.
PenFed received an almost perfect score in our fees, product selection, and account features categories thanks to its lack of monthly account fees and vast list of products and services, overdraft protection options, and other perks such as Zelle integration and early direct deposit. It also scored well in our security category and made our list of the 10 best credit unions overall.
Unlike many credit unions, PenFed has an open charter. Anyone can become a member by opening a share account.
Read more: 7 credit unions anyone can join
Chase Bank is the largest bank in the U.S., operating more than 4,900 branches and 16,000 ATMs across the nation. Chase offers a wide range of financial products, including credit cards, checking and savings accounts, certificates of deposit (CDs), home and auto loans, and business and commercial banking products.
Chase offers several benefits for military members and veterans. For example, they can get all the perks of Chase Premier Plus Checking, including no Chase fees at non-Chase ATMs, no Chase fees on incoming or outgoing wire transfers, and no Chase fee for foreign exchange rate adjustments on debit card purchases or ATM withdrawals. Plus, Chase will waive the $25 monthly service fee for current service members and veterans of the U.S. Armed Forces with a qualifying military ID.
Read more: Capital One vs. Chase: Which bank is best for you?
Navy Federal Credit Union, commonly referred to as Navy Fed, was established in 1933 and has since grown to serve 14 million members of the Department of Defense, Army, Marine Corps, Space Force, and Coast Guard, as well as veterans and their families. Navy Fed offers personal and business products and services, including checking and savings accounts, credit cards, loans, and more.
Navy Fed offers military customers up to $20 in ATM fee rebates, free military checks, early access to military pay with qualifying military direct deposit, APR discounts on select loans, and more.
Read more: USAA vs. Navy Federal Credit Union: Which is better for military banking needs?
Capital One is a Virginia-based credit card company founded in 1994. Over the years, Capital One has expanded its offerings to include a full suite of banking products and services for consumers and businesses. Capital One also gives customers access to an extensive library of educational resources and credit tools.
Capital One caps interest at no more than 4% for credit cards, lines of credit, auto loans, home equity loans, and more for all active-duty service members, reservists, and members of the National Guard. There are also no fees assessed on accounts, except bona-fide insurance.
Read our full review of Capital One
Armed Forces Bank was founded in 1907 and serves active-duty military, veterans, retirees, DOD, civilians, and their families across all 50 states and around the world.
Armed Forces Bank offers personal and business checking and savings accounts, CDs, loans, and more. Its military customers can take advantage of free checking options, early pay, quick access to personal loans, and VA home loans.
Read more: Best VA loan lenders of February 2025
Military-friendly institutions offer products and services designed to meet the needs of service members and their families. Often, this means more favorable interest rates, lower or no account fees, more locations near military bases, worldwide access to banking services, customer support to better serve service members abroad, military pay advance options, and housing assistance programs.
Military banks and credit unions may also have their own nonprofits or volunteer initiatives that work to support military communities and their families.
If you're a service member or veteran or related to one, there are several considerations to keep in mind when choosing a military-friendly financial institution. Some key factors to consider may include:
Nationwide or global accessibility: If you travel or relocate frequently, having access to online banking tools and a large branch network is key.
Favorable product rates and fees: Take a look at the products, services, rates, and fees offered by the military banks you're considering. It pays to do some comparison shopping across several institutions to make sure you're getting the best possible rates and low- or no-fee accounts.
Deployment benefits: Many military banks and credit unions offer benefits specifically for active-duty service members, such as interest rate caps, debt relief for debt incurred before active duty, foreclosure protections, and more.
Our grading system, collected and carefully reviewed by our personal finance experts, is comprised of over 200 data points related to FDIC- and NCUA-insured institutions to develop our list of the top five best banks and credit unions for military. We compared these institutions across key metrics, including fees, customer experience, product selection, account features and security, and environmental and social responsibility.
The financial institutions on our list could earn a maximum of 72 points across all categories. Here's a closer look at the categories we considered:
Fees and insurance: 20 points
We evaluated each bank or credit union's fees for its most basic checking and savings account options, as well as overdraft fees and ATM fees. Financial institutions were awarded points for having no or low fees, greater fee transparency, and clear fee structures.
Customer service experience: 25 points
Personalized customer service is a key benefit of many banks and credit unions, though some are better than others. The institutions we evaluated were scored on metrics including access to a physical branch, mobile app ratings on Apple and Google storefronts, and methods for reaching customer service representatives. Banks and credit unions that offered phone, chat, and email or secured message contacts were awarded the maximum points in that category.
We also examined each website for information clarity as part of the customer service assessment, evaluating each bank or credit union's website design, ease of navigation, language clarity, and whether customers could easily gather all the information needed to make an informed decision about any particular product.
Institutions that offered more extensive ATM networks, credit monitoring tools, and educational resources earned extra points.
Product selection and account features: 14 points
Each financial institution we analyzed could earn one point per product for each of the following:
Checking accounts
Savings accounts
High-yield savings accounts
Money market accounts
Share certificates
Mortgages
Personal loans
Auto loans
Home equity lines of credit
We also looked at the speed of ACH transfers and gave points for same- or next-day transfers, early access to paychecks, Zelle as a service, and being part of FedNow — the Federal Reserve's instant payment service.
Security: 10 points
We carefully considered each bank or credit union's security measures to protect your money and sensitive information. We looked at factors such as multifactor authentication, website encryption, alerts for suspicious activity, zero fraud liability, and whether each institution had a dedicated online security page or hub.
Environmental and social responsibility: 3 points
Many consumers consider a financial institution's carbon footprint and philanthropic efforts before deciding who to bank with. As such, banks and credit unions that have dedicated pages to their philanthropic efforts and environmental goals and have pledged to reach net zero CO2 emissions by 2050 scored up to 3 points for doing so.
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The completed condensed interim consolidated financial statements and management's discussion and analysis ('MD&A') can be found on the Group's SEDAR profile at Q2, 2025 Reported Results EBITDA $4.9 million Up 10% YoY Net Income $1.98 million Up 291% YoY Diluted EPS $0.31Up 288% YoY Annualized ROE 5% Down 50% YoY Q2, 2025 Adjusted Results1 EBITDA1 $5.1 million Up 15% YoY Net Income1 $2.3 millionUp 18% YoY Diluted EPS1 $0.36 Up 24% YoY Annualized ROE1 12%Flat YoY Below is a reconciliation of reported results to adjusted results based on non-recurring items: Three-month period endedApril 30, 2025 Three-month period endedApril 30, 2024 Six-month period endedApril 30, 2025 Six-monthperiod endedApril 30, 2024 Reported results $ $ $ $ EBITDA 4,901,810 4,470,061 8,755,560 7,755,158 Group net income 1,983,025 506,522 2,795,555 1,356,397 Pre-tax adjusting items Specified item: Restructuring charges 229,404 - 229,404 - Specified item: Advisory costs* 145,452 - 425,513 - Specified item: Deferred tax assets reversal* - 1,427,600 - 1,429,850 1,427,600 654,917Impact of income tax (72,073) - (80,647) - Adjusted results** EBITDA 5,131,214 4,470,061 8,984,964 7,755,158 Group net income 2,285,808 1,934,122 3,369,825 2,786,247Group Diluted earnings per share Reported 0.31 0.08 0.44 0.21 Adjusted** 0.36 0.29 0.53 0.42 *These adjustments are reported within the results from discontinued operations. **These are non-GAAP financial measures and ratios. 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To participate in or listen to the call, please dial the appropriate number: Toll Free - North America: (+1) 800 717 1738 Conference ID Number: 21262 About Currency Exchange International, Corp. Currency Exchange International is in the business of providing comprehensive foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the United States and select clients globally. Primary products and services include the exchange of foreign currencies, wire transfer payments, Global EFTs, and foreign cheque clearing. Wholesale customers are served through its proprietary FX software applications delivered on its web-based interface, ('CXIFX'), its related APIs with core banking platforms, and through personal relationship managers. Consumers are served through Group-owned retail branches, agent retail branches, and its e-commerce platform, ('OnlineFX'). 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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This press release includes forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, demand and market outlook for wholesale and retail foreign currency exchange products and services, future growth, the timing and scale of future business plans, results of operations, performance, and business prospects and opportunities. Forward-looking statements are identified by the use of terms and phrases such as 'anticipate', 'believe', 'could', 'estimate', 'expect', 'intend', 'may', 'plan', 'predict', 'preliminary', 'project', 'will', 'would', and similar terms and phrases, including references to assumptions. Forward-looking information is based on the opinions and estimates of management at the date such information is provided, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties and assumptions that could cause the Group's actual results, performance, or achievements to differ materially from the results discussed or implied in such forward-looking information. Actual results may differ materially from results indicated in forward-looking information due to a number of factors including, without limitation, the competitive nature of the foreign exchange industry; evolving worldwide geopolitical developments and pandemics including COVID-19 all of which may continue to have a material adverse effect on global economic activity, and may continue to result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets which impact personal and business travel, tourism and factors relevant to the Group's business; global economic deterioration negatively impacting tourism in general; currency exchange risks, the need for the Group to manage its planned growth, the effects of product development and the need for continued technological change, protection of the Group's proprietary rights, the effect of government regulation and compliance on the Group and the industry in which it operates, network security risks, the ability of the Group to maintain properly working systems, theft and risk of physical harm to personnel, reliance on key management personnel; volatile securities markets impacting security pricing in a manner unrelated to operating performance and impeding access to capital or increasing the cost of capital as well as the factors identified throughout this press release and in the section entitled 'Risks and Uncertainties' of the Group's Management's Discussion and Analysis for the three and six-month periods ended April 30, 2025 and 2024. Forward-looking information contained in this press release represents management's expectations as of the date hereof (or as of the date such information is otherwise stated to be presented) and is subject to change after such date. The Group disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this press release. 1 These are non-GAAP financial measures and ratios and are not standardized financial measures under IFRS, they are based on management-determined non-recurring items. 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- Yahoo
Hispanic Chamber of Commerce promotes local Hispanic businesses
SAVANNAH, Ga. (WSAV)– The Hispanic community has grown of the past few years, and the Metropolitan Savannah Area Hispanic Chamber of Commerce president said it will continue to grow. The Hispanic Chamber said it's their mission to provide a voice for the local Savannah businesses. They also don't only serve the Hispanic community, but also the non-Hispanic community by bridging the gap between them. 'The Hispanic Chamber is basically, people who don't know anything about Hispanics and people who know about Hispanics or are Hispanic and bringing them together,' Hispanic Chamber President Alfonso Ribot said. Ribot said that the diverse community is what the Savannah area needs, and the Hispanic businesses have something unique that everyone can enjoy. 'I know we're talking about some of the things that are happening out there in which businesses are closing, but one of the things that Hispanic businesses are doing is food,' Ribot said. 'Our culture, our way of treating people is appealing not just to Hispanics.' Ribot said Hispanic business owners are more prone to stick to the business because it's like a family and that business needs to be promoted. 'If you are non-Hispanic, Hispanic and you are able lease patronize Hispanic businesses and anyone that has that little sign on the door that says Hispanic Chamber of Commerce member, come in you're going to love it,' Ribot said. The Metropolitan Savannah Area Hispanic Chamber of Commerce said they welcome anyone to join the chamber. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
