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Pen Air Federal Credit Union

Popular Accounts at this Credit Union

1.88%5-year CD60 Month CD
1.88%5-year IRA60 Month IRA (Traditional, Roth, SEP, CESA)
0.80%1-year CD13 Month-Special CD

Overview / Commentary
1495 E Nine Mile Rd
Pensacola, FL 32514-5723

Pen Air Federal Credit Union is headquartered in Pensacola and is the 13th largest credit union in the state of Florida. It is also the 188th largest credit union in the nation. It was established in 1936 and as of March of 2017, it had grown to 320 employees and 98,387 members at 19 locations. Pen Air Federal Credit Union's money market rates are 14% higher than the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Membership is open to anyone through becoming a member of the Friends of the Navy-Marine Corps Relief Society by making a $3 donation. Membership is open to (1) active duty or retired military; (2) federal civil service employee; (3) employees of US Environmental Protection Agency, Time Warner Cable, and over 500 Select Employer Groups.
See current membership details

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Reviews (8)


Posted by: Anonymous | May 25, 2011

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.

PenAir Credit Union (NW FL)

Posted by: conn250 | Nov 10, 2014

I've used PenAir for about 9 years now and have had no major problems. The employees are friendly. There are convenient ATMs in several locations free to use. There are no fees for holding a checking or savings account.

Fly By This Bank

Opened a checking account in Gulf Breeze to find it was only opened as a savings account...deposited $12,000 in a cashiers check which was held for 5 days before funds were available based on the bank managers decision! Told teller i needed to get the money into my USAA checking account ASAP and needed the checking account I applied for. She said i had to maintain $500 min to have a free checking account to write a check to myself... later to find there was no minimum by the call center. She said I could set up offline transfers to get my $ into other accounts...found there is a max of $2000/day and $5000/month as well as $3.95 per transfer! This bank is evidently run on the bank manager’s assessment of the clothes you’re wearing instead of any written banking rules and tellers who have no clue of their own basic banking requirements...not to mention their nickel & diming with min or max requirements and fees..no other bank does this! Save yourself time & money and a lot of continual frustration and land elsewhere.
Today i went back to the Gulf Breeze branch and opened up a FREE checking account in less than 5 minutes and received 8 courtesy checks to finally move my money. The accounts manager was apologetic, helpful and she had lots of smiles...what a difference from my first experience! The online banking and ability to link external accounts is very convenient and user friendly. If it weren’t for all the ridiculous in house rules, holds on cashier checks and limits and fees associated with electronic transfers to external accounts, I would consider making this my primary bank. I will up my overall rating from 1 to 3 stars and customer service from 1 to 4 because of the wonderful (and most of all competent) girl in membership accounts.

I Want Your 29 Dollars Now.

Posted by: debedeb | Oct 13, 2012

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.


After several decades, I'm done with Pen Air. We went out of State for several weeks, while gone, a fraudulent charge was placed on one of my accounts. I only deposit money in this account when ordering something, so the funds available were minimal. Pen Air declined to consider it a fraudulent charge and charged me the $29 overdraft fee, not once, not twice, but five times, for a single transaction. How is this legal?

Unresponsive To Members

Very disgusted with Pen Air. They change login access, policies, and options with reckless disregard for members. Recently they upgraded their online system and it's been a disaster to every member I know. Accessing accounts consistently is virtually impossible. Their people don't even know how to answer the problems. Hold times are too long, calls are dropped and services have been deleted. It really pains me to say this after nearly 40 years but I will be moving to another credit union soon.

Don't Bank On Pen Air!

Posted by: Euclid68 | May 28, 2015

I totally agree with previous poster's comments about Pen Air's lack of concern for member security with their use of dialog stations.

Pen Air management appears inept with lost focus and purpose. This is evident in their poor decision making. Some examples are: The Milton dialog fiasco, the ridiculous and expensive pink elephant of a downtown branch that no one uses, the excessive and liberal travel of all executive staff, board members and their spouses for insignificant conferences costing hundreds of thousands of dollars, the unnecessary layers and layers of management-level staff, The excessive contributions to various charitable causes with Pen Air member's money, etc.

I have switched all of my business from Pen Air to another local credit union that truly understands their member's needs, wants, and expectations and could not be happier. Pen Air members deserve better!

Penair Doesn't Care About Member Privacy.

Posted by: ajndede | May 16, 2015

Having visited the Milton location after the remodeling I will never recommend Penair due to the lack of privacy while conducting transactions at the new dialogue towers. The new dialogue towers have ZERO privacy and allow everyone nearby to watch money being exchanged between the customer and a teller. I had to make a large cash withdraw, after I showed the teller my ID and told her the amount she got the money, walked from behind the computer right next to the tiny, completely open counter which I was standing at and proceeded to count out thousands of dollars right in front of everyone. As I looked around everyone was watching and I had never felt so unsafe and unsecured as I did conducting this transaction at the Milton Penair location. I personally was able to witness personal transactions and count money being disbursed by tellers to members while just waiting to conduct my transaction, this was easy to do since there is absolutely no privacy.

These new dialogue towers set a dangerous precedent and show just how little Penair cares about customer safety and privacy. This new dialogue tower system would allow a criminal to easily watch cash being disbursed because there is nothing to stop them. Numerous friends, family, and co-workers share my sentiments on the new dialogue towers, simply put they hate it as much as I do and many were able to witness what I did just standing there waiting. Bottom line is Penair does not respect member privacy or safety this is evident with this new dialogue tower concept at the Milton location.


Health Grade Components

NCUA #1303
Year Chartered1936
Primary Regulator
Profit Margin
Return on Assets - YTD1.05%
Return on Equity - YTD8.53%
Annual Interest Income$11.7MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$1.39B$1.32B
LoansQ1 2017vs Q1 2016$786.3MM$648.1MM
DepositsQ1 2017vs Q1 2016$1.21B$1.14B
Equity CapitalQ1 2017vs Q1 2016$168.6MM$158.2MM
Loan Loss AllowanceQ1 2017vs Q1 2016$8.6MM$9.2MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$4.2MM$3.1MM
Real Estate OwnedQ1 2017vs Q1 2016$119.00K$1.1MM
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Pen Air Federal 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*-Share Savings Accounts
OTHER TIERS: 0.10% $25 - $5k | 0.25% $5k - $25k | 0.34% $25k - $75k
0.45%*$75k*-CESA Savings
OTHER TIERS: 0.10% $25 - $5k | 0.25% $5k - $25k | 0.34% $25k - $75k
0.45%*$75k*-IRA Savings
OTHER TIERS: 0.10% $25 - $5k | 0.25% $5k - $25k | 0.34% $25k - $75k
0.45%*$75k*-Roth IRA Savings Account
OTHER TIERS: 0.10% $25 - $5k | 0.25% $5k - $25k | 0.34% $25k - $75k
0.45%*$75k*-SEP IRA Savings
OTHER TIERS: 0.10% $25 - $5k | 0.25% $5k - $25k | 0.34% $25k - $75k

Pen Air Federal Credit Union Money Market Rates

0.50%*$200k*-Money Market
OTHER TIERS: 0.25% $2,500 - $25k | 0.34% $25k - $75k | 0.45% $75k - $200k

Pen Air Federal Credit Union CD Rates

1.88%$500-60 Month CD
1.60%$500-48 Month CD
1.40%$500-36 Month CD
1.05%$500-24 Month CD
0.90%$500-18 Month CD
0.80%$500-13 Month-Special CD
0.80%$1,500-15 Month Add-On CD
0.75%$500-12 Month CD
0.65%--12 Month Jump Start Certificate
0.60%$500-10 Month CD
0.55%$500-6 Month CD
0.35%$1,500-3 Month CD

Pen Air Federal Credit Union IRA Rates

1.88%$500-60 Month IRA
1.60%$500-48 Month IRA
1.40%$500-36 Month IRA
1.05%$500-24 Month IRA
0.90%$500-18 Month IRA
0.80%$500-13 Month-Special IRA
0.80%$1,500-15 Month Add-On IRA
0.75%$500-12 Month IRA
0.60%$500-10 Month IRA
0.55%$500-6 Month IRA

Pen Air Federal Credit Union has 19 locations. Click to view all Pen Air Federal Credit Union locations.