Service Credit Union is one of the best military banks out there. It's a good option if you want to earn high interest rates on your savings and certificate balances. You also may like it if you're looking for a financial institution with 24/7 customer support.
Service Credit Union Overall Rating
| Feature | Insider rating (out of 5) |
| Savings | 4.25 |
| Checking | 4.5 |
| Certificate | 3.75 |
| Money market account | 4 |
| Trustworthiness | 5 |
| Total | 4.25 |
Service Credit Union Pros and Cons
| Pros | Cons |
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Service Credit Union Primary Savings Account
no monthly service fee
0.25% to 5.00%
$5
- High interest rate, especially on balances under $500
- $5 minimum opening deposit
- No monthly service fees
- Interest compounds monthly, not daily
- Join Service Credit Union as an active or veteran military member, former or current employee of the Department of Defense, employee of a Select Employer Group, or member of the American Consumer Council
- Branches and ATMs in the US and Europe
- Must open a Primary Savings Account to join the credit union
- Earn the highest interest rate on balances of $500 and under
- Interest compounded monthly, paid monthly
- Federally insured by the NCUA
As with most credit unions, you'll need to open a Service Credit Union Service Credit Union Primary Savings Account to join Service Credit Union. This account pays higher interest rates than most credit unions do on their mandatory accounts, especially on balances of $500 or less.
Service Everyday Checking Account
no monthly service fee
None
$0
- No minimum opening deposit
- No monthly service fees
- No out-of-network ATM fee
- Earn up to $30 per month in out-of-network ATM refunds, depending on tier level
- Earn up to 0.75% discount on certain loans, depending on tier level
- Get paid up to 2 days early
- Transfer funds from savings for overdraft protection
- No ATM fee refunds or loan discounts for Basic tier
- Limited fee refunds and loan discounts for Direct Deposit tier
- $5 overdraft transfer fee (no fee for Direct Deposit + tier)
- Join Service Credit Union as an active or veteran military member, former or current employee of the Department of Defense, employee of a Select Employer Group, or member of the American Consumer Council
- Branches and ATMs in the US and Europe
- Three Everyday Checking tiers: Basic, Direct Deposit, and Direct Deposit +
- Basic doesn't reimburse out-of-network ATM fees or offer loan discounts; Direct Deposit reimburses up to $15 per month in out-of-network ATM fees and offers 0.50% discounts on certain loans; Direct Deposit + reimburses up to $30 per month in out-of-network ATM fees and offers 0.75% on certain loans
- Qualify for Direct Deposit tier by setting up direct deposits (minimum $500 in direct deposits each month to qualify for perks); qualify for Direct Deposit + by setting up DFAS direct deposits, OR by setting up direct deposits and making at least 5 payments per month
- Federally insured by the NCUA
The Service Everyday Checking Account is a good option for no monthly service fee and receiving your paycheck up to two days early. If you receive your paychecks as direct deposits and make regular debit card transactions, you're eligible for extra perks, including ATM fee refunds and discounts on loans.
Service Credit Union Certificate
2.35% to 4.50%
$500
- $500 minimum deposit
- High interest rates
- Interest compounds monthly, not daily
- Must contact customer support to ask about your early withdrawal penalties
- Join Service Credit Union as an active or veteran military member, former or current employee of the Department of Defense, employee of a Select Employer Group, or member of the American Consumer Council
- Branches and ATMs in the US and Europe
- Terms range from 3 months to 5 years
- Interest compounded monthly, paid monthly
- Federally insured by the NCUA
Service Credit Union pays high interest rates on Service Credit Union Service Credit Union Certificate, and you only need $500 to open an account.
Service Credit Union Money Market Account
$5 monthly service fee
0.55% to 1.70%
$2,500
- High interest rates
- Includes paper checks
- $2,500 minimum opening deposit
- No interest earned in months when your balance falls under $2,500
- $5 monthly service fee
- No debit or ATM card
- Join Service Credit Union as an active or veteran military member, former or current employee of the Department of Defense, employee of a Select Employer Group, or member of the American Consumer Council
- Branches and ATMs in the US and Europe
- To waive $5 monthly service fee, maintain $2,500 balance
- Tiered interest rates: Earn interest with a $2,500 balance, then earn higher rates when your balance reaches $25,000 and $100,000
- Interest compounded monthly, paid monthly
- Federally insured by the NCUA
You might like the Service Credit Union Money Market Account if you have at least $2,500. You'll need $2,500 to open the account, then maintain a $2,500 balance to earn interest and avoid the $5 monthly service fee.
How Service Credit Union Works
Most US branches are in New Hampshire. There is also a branch in Falmouth, Massachusetts, and on the Grand Forks Air Force Base in North Dakota. There are several branches in Germany.
You have access to over 5,000 shared branches in the CO-OP network. You can't open an account at a shared branch, but you may visit and receive assistance. You also have free access to over 85,000 ATMs combined in the CO-OP and Allpoint networks.
The credit union has 24/7 customer service over the phone, or you can use live online chat.
The Service Credit Union mobile app has 4.8 out of 5 stars in the Apple store and 4.6 out of 5 stars in the Google Play store.
Your deposits are FDIC insured for up to $250,000, or up to $500,000 for a joint account. This means your money is safe even if the credit union shuts down.
How to Join Service Credit Union
You can join Service Credit Union Service Credit Union Primary Savings Account if you meet any of the following qualifications:
- Are an active military member, veteran, or family member
- Are a current or former employee of the Department of Defense, or a family member of an employee
- Work for a Select Employer Group (see the full list here)
- Are a member of the American Consumer Council
You also must open a Service Credit Union Primary Savings Account to become a member.
Service Credit Union Trustworthiness and BBB Rating
The Better Business Bureau gives Service Credit Union an A+ rating. A strong BBB grade indicates that a company responds effectively to customer complaints, has transparent business practices, and advertises honestly.
How Service Credit Union Compares
All three institutions process your paychecks earlier than most banks — Navy Federal and USAA can process the check one day early, and you may receive it two days early with Service Credit Union.
You might prefer Service Credit Union or Navy Federal if you want 24/7 live customer support. USAA's customer service is only available on weekdays.
Service Credit Union and Navy Federal are also better choices for earning high interest rates. But you might like USAA for its cash-back checking account.
Why You Should Trust Us: How We Reviewed Service Credit Union
We rate bank accounts on a scale from one to five stars. For Service Credit Unions checking, savings, and money market accounts, we used Personal Finance Insider's bank account ratings methodology. The exact factors we evaluate vary depending on the type of account — for example, we look at overdraft fees for checking accounts and interest rates for savings and money market accounts.
For Service Credit Union's CDs, we used our CD rating methodology which looks at interest rates, minimum opening deposits, early withdrawal penalties, CD variety, customer support availability, mobile app ratings, miscellaneous features, and the security and ethics of the company.
We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
