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1495 E Nine Mile Rd
Pensacola, FL 32514-5723

Pen Air Credit Union is headquartered in Pensacola and is the 11st largest credit union in the state of Florida. It is also the 169th largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 304 employees and 93,354 members. Pen Air Credit Union's money market rates are 14% higher than the national average, and it has a A health rating.

Field of Membership Restrictions

Membership is open to all active and retired military personnel and Civil Service employees; members of 1,036 Select Employee Groups; their families and those who join "Friends of the Navy Marine Corps Relief Society". - See Details

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Reviews (2)

I Want Your 29 Dollars Now.

I have been a member of Penair for about 20 years. I have never had to worry about my money being safe. They often have a set up of overdraw allowance per month. They are now in the past few years keep changing policy to the point you have no idea what is really going on. I am often charged 29.00 fees for one overage, and if you have one dollar over you get a charged 29. dollar fee. I find this to be unfair and the police not reliable. To customers of this bank fo many years, and during a trying economy; I have had no interest of help from these ppl. My card gets shut off without warning when the security does not like a purchase area. I went to a family water park in town, tjen went grocery shopping the next day for 60 dollars, I had spent time shoppin gand checking out to find out, they had lock my card for poss fraud of 15.00 ? I was in texas and had a emergency with no way to stop payments from coming in, and bank was happy to collect many 29 dollar fees. When will laws start providing safty to the working calss ppl. businesses have the right to take out our accounts when they want to weather we have the money or not. There should be limits of course for that.Banks do not care about making money honestly any more. Thsi is disturbing. I hope this helps someone. It don't help me.


I recently applied for a car loan with Pen Air, but I unfortunately did not qualify due to my FICO score not being high enough.

The loan person I was speaking with explained in honest detail what I needed to do to improve my FICO score. I was very appreciative for the loan person taking the time to explain this. Most banks would not bother.

Pen Air is a great credit union to belong too and they take care of their members. Plus, if you don't live in Florida, you can still make deposits at other credit unions that honor the CU Service Center.

You will be very happy with this credit union.


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Pen Air Credit Union had $6.51 million in non-current loans and owned real-estate with $137.65 million in equity and loan loss allowances on hand to cover it. This gives Pen Air Credit Union a Texas Ratio of 4.73% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Pen Air Credit Union decreased dramatically from 9.53% as of March 31, 2013 to 4.73% as of March 31, 2014, resulting in a positive change of 50.41%.This indicates that the balance sheet and financial strength for Pen Air Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, Pen Air Credit Union has decreased its total deposits by -$3.16 million, resulting in -0.29% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Pen Air Credit Union has shown is average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Pen Air Credit Union has $1.24 billion in assets with $137.65 million in equity, resulting in a capitalization level of 11.10%, which is excellent.

Institution Statistics

NCUA #1303
Year Chartered1936
Primary Regulator
Assets and Liabilities
Assets$1.24 billion
Loans$473.95 million
Deposits$1.10 billion
Equity Capital$128.97 million
Loan Loss Allowance$8.68 million
Unbacked Noncurrent Loans$4.02 million
Real Estate Owned$2.49 million
Historic Data - March 2013
Assets$1.24 billion
Equity Capital$124.09 million
Loan Loss Allowance$13.18 million
Unbacked Noncurrent Loans$4.02 million
Real Estate Owned$3.04 million
Profit Margin - Quarterly
Return on Assets1.39%
Return on Equity13.36%
Interest Income$10.42 million
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Pen Air Credit Union Savings Account Rates

0.50%--Health Savings Account (HSA)
0.50%$25-Christmas Club
0.50%--Minor Account Savings
0.50%--Minor Account Secondary Savings
0.45%$75k-Savings Account
0.45%$75k-CESA Savings
0.45%$75k-IRA Savings
0.45%$75k-Roth IRA Savings Account
0.45%$75k-SEP IRA Savings

Pen Air Credit Union Money Market Rates

0.50%$200k-Money Market

Pen Air Credit Union CD Rates

1.80%$500-60 Month CD
1.40%$500-48 Month CD
1.05%$500-24 Month CD
1.00%$500-36 Month Step-Up CD
0.90%$500-18 Month CD
0.75%$500-13 Month-Special CD
0.70%$1,500-15 Month Add-On CD
0.65%$500-12 Month CD
0.65%--12 Month Jump Start Certificate
0.60%$500-10 Month CD
0.40%$500-6 Month CD
0.25%$1,500-3 Month CD

Pen Air Credit Union IRA Rates

1.80%$500-60 Month IRA
1.40%$500-48 Month IRA
1.05%$500-24 Month IRA
1.00%$500-36 Month Step-Up IRA
0.90%$500-18 Month IRA
0.75%$500-13 Month-Special IRA
0.70%$1,500-15 Month Add-On IRA
0.65%$500-12 Month IRA
0.60%$500-10 Month IRA
0.40%$500-6 Month IRA

Pen Air Credit Union has 18 locations. Click to view all Pen Air Credit Union locations.