Andrews Federal Credit Union Review: Checking, Savings and CDs
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
Overall institution rating
4.6
Andrews Federal Credit Union, a Black-owned financial institution, has a solid offering of checking accounts, savings accounts and share certificates. Its branches are on the East Coast. Military service is one way to be eligible for membership with Andrews Federal, and the credit union provides special resources to military members by offering features such as overseas bill pay.
It also offers vehicle financing for members stationed in Europe and has branches on military installations in Germany, Belgium and the Netherlands. If you aren’t a member of the military or civilian personnel of the Department of Defense, there are other ways to join. Membership options include being a member of one of Andrews Federal's Employer Groups, living or working in Washington, D.C., joining the American Consumer Council (which is the most accessible method) or being an immediate family or household member of an Andrews Federal member.
Best for: Active or retired members of the military or other eligible Andrews Federal members who want a solid ATM network.
- Competitive rate on some savings and share certificates.
- Anyone can become a member.
- Large, free, nationwide ATM network.
- Expensive overdraft fee.
- Low rates on some savings accounts.
Full review
Full review
Andrews FCU
Savings
Andrews Federal Credit Union High-Yield Savings Account
4.5
/54.5
/5APY
4.00%
With $0.01 min. balance for APY
Bonus
N/A
APY
4.00%
With $0.01 min. balance for APY
Bonus
N/A
Andrews Federal has a high-yield savings account with no monthly fee and no minimum balance requirement. The rate is 4.00%.
To join Andrews Federal, though, you first have to open the Base Share Savings account and keep $5 in the account. This basic account has no monthly fee and a low interest rate of 0.05% APY.
Checking
Andrews Federal Credit Union Kasasa Cash Checking
4.8
/54.8
/5Monthly fee
$0
APY
6.00%
With $0 min. balance for APY
Monthly fee
$0
APY
6.00%
With $0 min. balance for APY
Bonus
N/A
Show details
Andrews Federal, in partnership with the marketing firm Kasasa, offers Kasasa Cash Checking, a free rewards checking account with up to 6.00% APY on balances up to $25,000. There’s a lower rate of 0.50% above that balance. However, earning these rates requires enrolling in eStatements and two types of monthly activities: At least 15 debit card purchases and one direct deposit or ACH transaction.
» COMPARE: Best rewards checking accounts
Not meeting these requirements drops the rate down to 0.05%APY for a given month, but you can qualify again the next month. These requirements aren’t abnormal for some rewards checking accounts, but they can be extensive, especially if you prefer using credit cards over debit cards.
Rewards aside, this account has no monthly fees or minimum balance to open or maintain the account. Andrews also provides up to one-day early direct deposit as well as same-day transfers via Zelle.
Certificates of deposit
Andrews Federal Credit Union Fixed Rate Share Certificates
5.0
/55.0
/51-year APY
4.20%
3-year APY
3.65%
1-year APY
4.20%
3-year APY
3.65%
5-year APY
3.55%
Minimum deposit
$1,000
Show details
Andrews Federal offers solid rates on its fixed-rate share certificates — the credit union equivalent of certificates of deposit — and each requires a $1,000 minimum opening deposit.
» See more options: Best CD rates
Customer experience
Andrews Federal branches are located in Maryland, New Jersey, Virginia and Washington, D.C., as well as overseas on military installations in Germany, Belgium and the Netherlands. The credit union's branches on military bases participate in shared branching through the Co-op shared branch network.
Andrews Federal’s customer service call centers are open six days a week, and customers can also use a virtual assistant chatbot to ask questions. The credit union's mobile apps for Apple and Android devices also have solid star ratings, and you must be enrolled in the mobile app or digital banking for most of Andrews Federal’s accounts.
» SEE: Best online banks
Overdraft fees
Andrews Federal charges $32 per overdraft up to three times per day, for a total of $96 in potential overdraft fees per day. There are a couple of ways to avoid overdraft fees: Customers can use a free overdraft protection transfer from a linked Andrews Federal savings account or they can apply for an overdraft line of credit, which charges interest but no fee. The credit union also doesn’t charge overdraft fees when a checking account balance goes negative by $12.
» COMPARE: Best banks for overdrafts
How does Andrews Federal Credit Union compare?
4.00%
$300
4.35%
N/A
Methodology
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.