About Navy Federal Credit Union (Review)

If you know someone who is actively serving in the U.S. military or is a retired soldier, you’ve probably heard of the Navy Federal Credit Union. In 1933, Navy Federal started with 7 members. Today their memberships spans over 5 million people, and they have 223 locations worldwide.

Headquartered in Vienna, Virginia, Navy Federal Credit Union is the largest natural member credit union in the U.S. in terms of membership and assets. While it was originally only available to Navy officers, the credit union opened its doors to the entire Department of Defense in 2008. Then, it extended membership to the Coast Guard in March of 2013. 

Navy Federal Credit Union’s vision statement is to “Be the most preferred and trusted financial institution serving the military and their families.” Moreover, members do not have to worry about losing their membership with Navy Federal Credit Union when they have retired from active duty. Their motto is “Once a member, always a member.”

navy federal mortgage reviews

Image Source: Navy Federal Credit Union

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Navy Federal Credit Union Reviews

There are several mixed Navy Federal reviews; while the majority of reviewers love Navy Federal services, others feel that they are uncaring and misinformed. One Navy Federal Credit Union reviewer in particular had a fraud encounter that went unresolved by Navy Federal, and a few other members have commented on the high likelihood of fraud with this credit union.

On the other hand, many Navy Federal Credit Union reviews are extremely positive. One reviewer states, “I’ve had quite a few banks in my life, but I must say NFCU is the best!” Some recommend taking advantage of the Active Duty Checking that can allow active duty veterans to receive their deposits early. Furthermore, some members have stated that the credit union has very competitive rates for loans and often run promotions for friend referrals.

A review of Navy Federal’s Active Duty Checking posted by GoBankingRates states that it is specifically designed for those active in the military as well as their families. There are no monthly fees, and members can receive up to $20 in ATM fee rebates per statement period.

GoBankingRates offers a few other Navy Federal Credit Union reviews about their Flagship Checking, EveryDay Checking, Campus Checking, and e-Checking. The Flagship Checking account provides the convenience of a checking account with the earning capabilities of a savings account.

Furthermore, the EveryDay Checking account is designed for members who may not maintain a balance of $1,500 in their accounts. There is no monthly fee, and there is no minimum deposit required to set up the account.

Another Navy Federal review about the Campus Checking states that this account is made specifically for teenagers and college-aged students who are new to the finance and banking world. It is available to full time students ages 14 to 24, and there are no minimum balances or monthly service fees.

GoBankingRates also says that the e-Checking Accounts with Navy Federal are very competitive. This account also offers an ATM rebates. Likewise, this product offers $10 in rebates per statement period. There is a $5 fee, but it can be waived if you have direct deposit set up or make 20 debit transactions per month.

Other Navy Federal reviews favor the fast service and easy transfers. There are no penalties for low balances, and they offer great rates in mortgage loans and credit cards.

Other concerns from Navy Federal Credit Union reviews include long load times on the credit union’s website. One reviewer felt that the site was constantly under maintenance and that the page took a long time to load. Other members were unhappy with the customer service.

Overall, Navy Federal reviews agree that Navy Federal Credit Union is very helpful when applying for loans, and their mobile app is convenient and easy to use for on-the-go banking. Likewise, many Navy Federal Credit Union reviews commend the honesty, compassion, and patience of the credit union.

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Navy Federal Credit Union Credit Card Review

Navy Federal Credit Union offers a credit card called goRewards. This credit card allows users to earn points based on spending, and there is no annual fee for the card. The rewards expire four years from the date they are earned. Furthermore, rates vary from 9.74 percent to 18.0 percent.

The goRewards credit card from Navy Federal Credit Union was featured in NerdWallet’s Best Credit Union Credit Cards of 2016. Some benefits listed in their Navy Federal credit card review are big rewards on dining and gas purchases as well as little to no fees. On the other hand, NerdWallet lists a few drawbacks to the credit card. Specifically, the goRewards card does not offer a sign-up bonus, and it is designed for people who eat out and drive frequently.

navy federal credit union reviews

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Overall, the Navy Federal goRewards® card is a great option for people in the military who spend a large amount on dining out and gas. It is also a good choice if you need to make cash advances or plan to make purchases over seas. If not, the NerdWallet Navy Federal credit card review suggests choosing a different credit card.

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Federal Credit Union Auto Loan Reviews

Navy Federal Credit Union also offers auto loans. Members may apply for a new or used auto loan or refinance their current auto loan. Members also have the opportunity to participate in the Auto Buying Program. According to Navy Federal, this program offers:

  • Simplified, no stress buying experience
  • Low, established program pricing
  • Nationwide network of participating dealerships
  • Trained dealer specialists

The Auto Buying Program is also offered overseas.Members can arrange for delivery overseas or stateside, custom order, or choose from a wide selection of vehicles, as well as take advantage of great loan rates with 100 percent financing available. Live member service is also available overseas 24/7. The Auto Buying Program overseas is available to Active Duty Military, DOD civilians, government contractors, and members of the diplomatic community.

Some Navy Federal Auto Buying Program reviews mention additional offer discounts when members use the Auto Buying Program to apply for an auto loan. It offers low-established pricing through a network of participating dealers.

Several members of Navy Federal Credit Union have had great experiences with their auto loans. Navy Federal auto loan reviews are overall positive. One reviewer in particular found that refinancing her auto loan with Navy Federal was very simple and rewarding. She was able to get a much lower rate through Navy Federal than through the dealership.

Several other Navy Federal auto loan reviews say that the credit union was very helpful throughout the loan process. From pre-approval to purchase, Navy Federal was able to walk them through each step.

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Navy Federal Credit Union Mortgage Reviews

Navy Federal Credit Union offers options for both buying and refinancing homes. In fact, they have a complete nine-step process to walk members through the mortgage process. The Navy Federal-recommended mortgage process is as follows:

  1. Do the research.
  2. Prepare the paperwork.
  3. Contact a loan officer.
  4. Get pre-approved.
  5. Find a realtor.
  6. Search for a home.
  7. Make an offer.
  8. Finalize the loan.
  9. Close.

Furthermore, nationwide availability, personal guidance, and Navy Federal servicing for the life of the loan are included with all mortgages, and there are several positive Navy Federal Credit Union mortgage reviews. The following are the types of home loans offered by Navy Federal:

  • VA loans
  • Military choice
  • Conventional fixed rate
  • 100 percent financing HomeBuyers Choice
  • FHA loans
  • Adjustable-rate mortgages
  • Interest only

The Los Angeles Times offers another Navy Federal mortgage review with insights into their mortgage clientele. In 2015, 59 percent of home loans went to first-time home buyers. Two-thirds of these first-time home buyers were between the ages of 18 and 34.

The LA Times Navy Federal mortgage review also says that Navy Federal is offering loans that directly meet the needs of first-time home owners– zero-down payments, no private mortgage insurance premiums, and the low down payment options from the Federal Housing Administration and the Department of Veterans Affairs.

Navy Federal Credit Union Personal Loan Reviews

Beyond auto and home loans, Navy Federal Credit Union also offers three types of personal loans: a standard personal loan, a shares secured loan, and a certificate pledged loan.

Standard personal loans are available for home improvement for terms greater than 60 months. Depending on income and credit history, there is an option to have funds deposited directly into your checking account.

A shares secured loan is a great option to help build credit or make a large purchase. Shares can be pledged for you, family, or friends, and they continue to earn dividends. Furthermore, more shares become available as the loan is paid off.

Lastly, certificate pledged loans allow you to borrow 100 percent of your certificate’s principal balance for a variety of terms at 2.00 percent APR above the certificate’s rate. However, the loan term must be equal to or less than the certificate term, and the amount of the loan cannot exceed the amount of shares in the certificate. Certified pledge loans can be applied to funds within a share certificate, money market certificate, or jumbo certificate.

Navy Federal also offers a personal loan application checklist. These are a few things they will need to know before you withdraw a personal loan:

  • How much you would like to borrow
  • How long you would like to finance your loan
  • Current employment and income
  • Your contact information
  • Information about your co-applicant, if applicable

Overall, Navy Federal personal loan reviews are positive. Members believe that the personal loans have low interest rates, and the process to obtain one is simple. However, a few Navy Federal personal loan reviews say that the documentation process is very strict, so make sure that you have all the information you need before diving in.


Navy Federal has a lot to offer: its history is long and storied, loan rates and options abound, and this credit union keeps it in the family — the military family, that is. Some people experience bumps in the road (an inevitability with any financial institution), but there are many positive Navy Federal Credit Union reviews, too. Is Navy Federal right for you? Only you can decide, but we hope that this Navy Federal Credit Union has given you the information you need to start that decision process. 

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