Highlighting its business, money market savings and checkingaccounts, MONEY Magazine has named Navy Federal Credit Union to its“Best Banks 2013” annual list.

The publication looked at six military-oriented financialinstitutions and recognized Navy Federal as the best, highlightingthe credit union's free checking and savings accounts for activeduty personnel and its free checking for small business members,according to the $54 billion credit union in Vienna, Va.

MONEY highlighted the following three Navy Federal accounts as standouts for military members andtheir families:

• NFCU Flagship Checking – allows members to earn tiereddividends based on account balances, and receive ATM feerebates.
• Money Market Savings – offers 0.5% on $25,000+ with no termrestrictions.
• Business Checking – three different accounts (Business,Business Plus, Premium Business) with dividends earned daily, no orlow monthly maintenance fees, and mobile and scan deposits.

“We're proud to offer free checking at a time when the industryis trending in the opposite direction,” said Michael Christian,manager of savings and checking products at Navy Federal. “Ourmembers' bottom line is most important to us, and free checkingkeeps their money in their name, not ours.”

Jim Salmon, vice president of business services at Navy Federal,said “Smallbusiness owners want a financial partner who listens to theirneeds, provides solutions to their challenges, and offersconveniences such as free checking and scan and mobile deposits.We're proud of the fact that doing what's right for our smallbusiness members has led to these accolades by MONEY.”

MONEY's annual list examines the 40 biggest retail banks byconsumer deposits and number of branches, plus the 15 biggestonline banks and three biggest credit unions by deposits, accordingto financial services consulting firm Novantas. The full articlecan be foundhere.

Navy Federal President/CEO Cutler Dawson also applauded therecognition.

“We're extremely honored by MONEY for recognizing our promise ofproviding the service, products and convenience that help ourmilitary members and their families successfully negotiate thepersonal and financial challenges and opportunities they face,”Dawson said.