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6 Veteran-Friendly Banks

By    |   Tuesday, 08 Aug 2017 04:23 PM

Discounts and special services are offered through veteran-friendly banks for those who served. Veterans have such advantages as preferred savings account interest rates, free checking, and home loan services.

Features may also include low- or no-fee ATM use, fast paycheck processing, and other customer service perks. Service members and vets can find opportunities at military banks and credit unions.

Financial concerns are lightened significantly for those serving and returning to civilian life. Veterans should check out the benefits offered at all financial institutions, but here is a look at six veteran-friendly banks:

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1. Andrews Federal Credit Union — The financial institution offers loans, credit cards, investments, and insurance, notes GOBankingRates. It has 0.31-percent savings account interest rates. Along with mobile checking for ATM and account information, the credit union also provides online and in-person information on financial advice.

​2. Randolph-Brooks Federal Credit Union — The credit union also offers loans, credit cards, investments, and insurance with a 0.25-percent savings account interest rate. It has a network of free ATMs for members. The credit union’s app allows review of account information and depositing checks remotely.

3. USAA — The bank was named the best for active duty members of the armed forces by ValuePenquin. It has customer service and personalized care advantages for those getting deployed. Direct deposits for military paychecks are available at least one business day earlier than payday. There are rebates of up to $15 a month on fees from non-USAA ATMs, which helps those overseas.

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4. Navy Federal Credit Union — It’s open to all branches of service, including vets and retirees. ValuePenquin named it the best military credit union because of its generous loan terms and access to physical bank locations. Navy Federal has special rates for mortgages and auto loans. Checking accounts earn 0.05- to 0.45-percent APY with savings accounts at 0.25 APY.

5. Chase Bank — Its military benefits program waives monthly fees on its premium checking account, including free money orders, cashier’s checks, and safe deposit boxes. The Chase Premier Plus checking account waives fees on all non-Chase ATM transactions. It has free wire transfers and no foreign exchange fees on debit purchases and withdrawals. The account costs $25 a month, but the fee is waived when there is $15,000 in the account.

6. Pentagon Federal Credit Union — It is considered the easiest to join, according to Military.com. Service members, vets, and family members can join. It is also open to people at such organizations as the Department of Defense. Checking accounts have 0.20 percent APY for balances under $20,000 and 0.50 percent APY above it. There is a minimum deposit of $5 for savings accounts and free access to more than 56,000 ATMs in the Allpoint Network.

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Discounts and special services are offered through veteran-friendly banks for those who served. Veterans have such advantages as preferred savings account interest rates, free checking, and home loan services.
veteran, friendly, banks
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2017-23-08
Tuesday, 08 Aug 2017 04:23 PM
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