Military Banking: Articles, Tips, and Links

Finding a good military bank or credit union that will provide you banking services such as free checking accounts, savings accounts, online banking, and personal loans is an important part of any military professional's personal finances. However, this is an area of personal finance that is often overlooked. Please don't make the mistake of overlooking the benefits of conducting your household banking at a military bank or credit union. Read on for great military banking tips, links to banking articles, and links to several military banks and credit unions.

Military Banking Tip #1: Military professionals can get some great benefits from doing their banking at a military bank or a military credit union.

This personal finance tip is often overlooked by military service members. Many simply choose the bank that is closest to them and "call it a day". You should take the time to shop around and find a good military bank or military credit union - not all banks are the same! Some military banks and credit unions, such as USAA, Navy Federal Credit Union, First Command Bank, Bank of America Military Bank, Pentagon Federal Credit Union, and Armed Forces Bank are more military friendly than "regular" banks. Choosing a military bank or credit union as your household bank is important because they typically understand your needs as a military professional better than other banks and credit unions. A military bank or credit union that understands your needs can pay big dividends, save you money on banking services, and set the stage for success in other areas of your personal finances.

Military Banking Tip #2: Membership at military credit unions and banks have significant benefits that will save you money!

Most military banking institutions require you to become a member, but membership gets you access to valuable banking services like free internet banking, lower interest rates on loans, higher interest rates on savings accounts and CD's, free online bill pay, and higher-yielding money market accounts. USAA, First Command Bank, and many others also provide other valuable personal financial services such as mutual funds, insurance products, and personalized financial plans.

Military Banking Tip #3: Check out the benefits of online military banks.

Some military banks, like USAA Federal Savings Bank and First Command Bank , are totally online banks - there are no branches to visit. While this may seem like an inconvenience for some, an online bank, sometimes referred to as an internet bank, can afford to pay higher interest rates on savings accounts and CD's and offer lower interest rates on personal loans because they don't have the higher overhead costs associated with maintaining buildings, paying bank branch employees, etc. If you are comfortable conducting your banking activities online, these banks are certainly worth a look.

Finally, for those of you that aren't military service members or federal employees, you still need to take the time to find a good bank or credit union that will provide you with free checking accounts, savings accounts with competitive interest rates, and good loan rates. Other features such as online banking and online bill pay are things to look for as well.

Banking Articles

While most of these articles are not "military specific", the tips and advice contained in each article can be used at military banks and credit unions and are important for military service members, regardless of what bank or credit union you ultimately decide to use.

Saving Money on Banking and Credit Services - From radio spots and junk mail to television and newspaper ads, American consumers are bombarded with invitations to utilize various banking and checking services. And even though they come with the obligatory fine print, so much of it remains a mystery to most of us. View full article.

Internet Banking Fundamentals - Historically banks were institutions that held your money under lock and key. Times are changing, with the internet redefining the banking sector over the last five years. View full article.

Learn How to Bank Like a Banker - The business of banking has changed dramatically over the last decade. Because the cost of doing business the old-fashioned way is no longer effective, banks are interested in changing their customers' behavior by encouraging electronic banking alternatives whenever possible. View full article.

Banking Links

USAA Federal Savings Bank USAA provides products and services dedicated to helping military members and their families reach their financial goals. The value of membership lasts a lifetime. USAA provides checking & savings accounts, ATM cards, loan services, financial advice, mutual funds, and insurance products.	First Command Bank A bank designed with you in mind. First Command Bank is the first bank dedicated to providing services designed to fit the military lifestyle. You deserve a bank that understands your life. We strive daily to put first the interests of our military clients everywhere.
Bank of America Military Bank Military Bank - a tradition of over 84 years of serving active, former, and retired military, diplomats, government and civilian employees and their families. Manage your accounts virtually anywhere in the world. You'll never need to change banks again.	Navy Federal Credit Union Serving the Department of the Navy and their families around the world. We're more than a bank. We're your Credit Union. Our focus is not on profits, but on your best interests. We are the world's largest credit union. Find out why membership counts.
Marine Federal Credit Union Military, D.O.D., and Non-Appropriated Fund Civilians associated with Camp Lejeune and MCAS New River, Jacksonville, North Carolina, and Quantico, Virginia. Dedicated to our members' financial success through convenience and quality service. Credit unions have traditionally paid higher dividends on savings than the rates offered by commercial banks.	Air Force Federal Credit Union All you have to do is open a Share Savings Account with at least $5 and sign a signature card. Then, you're a member and can enjoy the many benefits of credit union membership. And, once a member, you’re always a member even if you move, retire or change professions. Air Force Federal Credit Union wants to be your lifetime financial partner!
Armed Forces Bank Military banking group that specializes in military banking and serves Army, Air Force, Navy, and Marine communities throughout the United States. We operate full-service branches inside the Main Exchange on most of these installations.	Pentagon Federal Credit Union Pentagon Federal Credit Union is one of the strongest credit unions in the world. With more than 70 years of experience and nearly 650,000 members, we proudly serve Army, Air Force, Coast Guard, Dept. of Homeland Security, DoD personnel, VFW, their family members, and many others.
Army Aviation Center Federal Credit Union We tailor plans and programs, products and services to meet your specific financial needs. Then we go a step further: People are our most important asset. Your money is safe here! AACFCU membership includes military and civilians at Ft. Rucker, Al. and over 500 area civilian businesses and organizations in Florida's Emerald Coast and the Mobile Bay area.	Army Guard Federal Credit Union Your one stop on the Internet for all of the convenience, service, and friendliness of the Army Guard Federal Credit Union. AGFCU serves all members of the SD National Guard and their families located throughout the state of South Dakota. We also serve all Army National Guard full time personnel, military, civilian, state employees and their families.
Navy Army Federal Credit Union In 2005, Navy Army Federal Credit Union celebrates 50 years of providing quality financial member service to South Texas. Our members are our owners. We are here to provide the best possible service to our owners at all times. It is that attitude that sets us apart from other financial institutions.	Sea West Coast Guard Federal Credit Union Sea West provides convenient and high-value financial products and services to Department of Homeland Security employees and their families regardless of where in the world their assignments or travels take them. We are especially proud to serve active and retired members of the United States Coast Guard.

Home

Banking

Budgeting

Saving Money

Investing

Mutual Funds

Military Links

Articles