Personal Finance Banking Savings
Written by Laura Grace Tarpley, CEPF; edited by Sarah Silbert; reviewed by Evelyn He
- Overall credit union rating
- Pros and cons
- Savings account
- Checking account
- Certificate
- Money market account
- How Service Credit Union works
- How to join Service Credit Union
- Is Service Credit Union trustworthy?
- How Service Credit Union compares
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Overall credit union rating
| Feature | Insider rating (out of 5) |
| Savings | 4.5 |
| Checking | 4.5 |
| Certificate | 4.5 |
| Money market account | 3.75 |
| Trustworthiness | 5 |
| Total | 4.5 |
Pros and cons
| Pros | Cons |
|
|
How Service Credit Union accounts compare
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Service Credit Union Primary Savings Account
-
Service Everyday Checking Account
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Service Credit Union Certificate
-
Service Credit Union Money Market Account
Editor's Rating
4.5/5
Annual Percentage Yield (APY)
0.25% to 5.00%
Minimum Deposit
$5
Editor's Rating
4.5/5
Annual Percentage Yield (APY)
None
Minimum Deposit
$0
Editor's Rating
4.5/5
Annual Percentage Yield (APY)
0.80% to 5.15%
Minimum Deposit
$500
Editor's Rating
3.75/5
Annual Percentage Yield (APY)
0.55% to 1.70%
Minimum Deposit
$2,500
Service Credit Union, NCUA insured.
Service Credit Union, Member NCUA
Service Credit Union, NCUA insured.
Start banking
Service Credit Union, NCUA insured.
Service Credit Union Primary Savings Account
Service Credit Union Primary Savings Account
Insider’s Rating
4.5/5
Fees
no monthly service fee
Annual Percentage Yield (APY)
0.25% to 5.00%
Minimum Opening Deposit
$5
Pros
- High interest rate, especially on balances under $500
- $5 minimum opening deposit
- No monthly service fees
Cons
- Interest compounds monthly, not daily
Product Details
- 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 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
Service Everyday Checking Account
Insider’s Rating
4.5/5
Fees
no monthly service fee
Annual Percentage Yield (APY)
None
Minimum Opening Deposit
$0
Pros
- 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
Cons
- 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)
Product Details
- 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
Service Credit Union Certificate
Service Credit Union, NCUA insured.
Insider’s Rating
4.5/5
Annual Percentage Yield (APY)
0.80% to 5.15%
Minimum Opening Deposit
$500
Pros
- $500 minimum deposit
- High interest rates
Cons
- Interest compounds monthly, not daily
- Must contact customer support to ask about your early withdrawal penalties
Product Details
- 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 certificates, and you only need $500 to open an account.
Service Credit Union Money Market Account
Service Credit Union Money Market Account
Start banking
Service Credit Union, NCUA insured.
Insider’s Rating
3.75/5
Fees
$5 monthly service fee
Annual Percentage Yield (APY)
0.55% to 1.70%
Minimum Opening Deposit
$2,500
Pros
- High interest rates
- Includes paper checks
Cons
- $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
Product Details
- 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 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.
Service Credit Union doesn't have any recent public controversies.
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.
Personal Finance Reviews Editor
Laura Grace Tarpley (she/her) is an expert in mortgage rates, refinance rates, lenders, bank accounts, and borrowing and savings tips for Personal Finance Insider. She worked on Business Insider's "The Road to Home" series, which won a Silver award from the National Associate of Real Estate Editors.She has written about personal finance for over seven years. Before joining the Business Insider team, she was a freelance finance writer for companies like SoFi and The Penny Hoarder, as well as an editor at FluentU.
Compliance and Operations Associate
Evelyn He is a Compliance and Operations Associate on the Personal Finance team to ensure content accuracy and editorial independence so readers get up-to-date and objective financial advice.The compliance team's mission is to provide readers with fact-checked and current stories so they can make informed financial decisions. The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.
Top Offers From Our Partners
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