LOS ANGELES, Feb. 4, 2014 /PRNewswire/ -- Approximately 43 percent of U.S. military members do not have a rainy day fund 1, and with interest rates still relatively low and fees rising, it's even more important for service men and women to bank with financial institutions that keep the armed services community its first priority.
To help service members and their families find the best military financial institutions, GOBankingRates ranked the leading banks and credit unions for armed forces personnel and staff in 2014.
"Too many financial institutions are taking advantage of the military community for a quick buck," said Jennifer Calonia of GOBankingRates. "This list can help active and retired members of the armed forces connect with banks and credit unions that are making waves when it comes to financial education and money-saving resources for military families."GOBankingRates Top Ranked Military Financial Institutions of 2014
To see which military financial institution ranked no. 1, go to: http://www.gobankingrates.com/banking/best-2014-military-banks-credit-unions/ More About Top-Rated Institutions "Our service to the military isn't about business -- it's the focus and core of all that we do," said James Schenck of PenFed. "It is our mission to be the one financial institution that best understands and meets the needs of our members wherever they are," said Danny Sanchez of Air Force FCU. About These Rankings GOBankingRates evaluated the largest military banks and credit unions in the country, weighing interest rates, fees, unique products available to customers, as well as their support for the military community beyond branch walls, to determine the five best financial institutions for military families in 2014. 1 See "2012 National Financial Capability Study" available at: usfinancialcapability.org/resultsm.php About GOBankingRates GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier financial services organizations.
No. 5 - Armed Forces Bank
No. 4 - Pentagon Federal Credit Union
No. 3 - Air Force Federal Credit Union
No. 2 - Navy Federal Credit Union