Pen Air Federal Credit Union

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

Pen Air Federal Credit Union is headquartered in Pensacola and is the 14th largest credit union in the state of Florida. It is also the 204th largest credit union in the nation. It was established in 1936 and as of December of 2019, it had grown to 320 employees and 108,156 members at 17 locations. Pen Air Federal Credit Union's money market rates are 93% higher than the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Pen Air Federal Credit Union 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. (A full list of groups can be found on the credit union's website)
See current membership details

Related Posts

Pen Air Federal Credit Union 60-month CD Is A Rate Leader - 3/21/2020

Pen Air Federal Credit Union (easy membership) is offering a competitive rate on its 60-month CD. Minimum opening deposit is $500, with no stated balance cap.

Pen Air Federal Credit Union 60-month CD Earns 2.95% APY - 8/28/2019

Pen Air Federal Credit Union (easy membership) is currently offering 2.95% APY on its 60-month CD. Minimum deposit is $500, with no stated balance cap. Also as an IRA.

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Very Happy

They treat me excellent very pleasant service.

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 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: |

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.

Terrible Customer Service / Support

Posted by: |

Some ATMs take deposits, some don't - mobile check deposit is a joke, especially if you can't use both hands due to disability or injury - made two wasted trips trying to make deposit before leaving town, totally frustrated - I am seriously considering changing banks



Health Grade Components

NCUA #1303
Year Chartered1936
Primary Regulator
Profit Margin
Return on Assets - YTD1.21%
Return on Equity - YTD8.63%
Annual Interest Income$59.6MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.55B$1.47B
LoansQ4 2019vs Q4 2018$975.7MM$911.0MM
DepositsQ4 2019vs Q4 2018$1.30B$1.22B
Equity CapitalQ4 2019vs Q4 2018$216.3MM$190.6MM
Loan Loss AllowanceQ4 2019vs Q4 2018$10.0MM$11.1MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$4.2MM$6.3MM
Real Estate OwnedQ4 2019vs Q4 2018$545.00K$140.00K
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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

0.70%--Health Savings Account (HSA)
0.70%$25-Christmas Club
0.60%*$25k*-Share Savings Accounts
OTHER TIERS: 0.40% $25 - $25k

Pen Air Federal Credit Union Money Market Rates

0.85%*$200k*-Money Market
OTHER TIERS: 0.60% $2.5k - $25k | 0.75% $25k - $200k

Pen Air Federal Credit Union CD Rates

2.20%$500-60 Month CD
2.10%$500-48 Month CD
2.00%$500-36 Month CD
1.90%$500-24 Month CD
1.80%$500-18 Month CD
1.70%$500-12 Month CD
1.70%$500-15 Month Add-On CD
1.40%$500-6 Month CD
0.70%$1.5k-3 Month CD

Pen Air Federal Credit Union IRA Rates

2.20%$500-60 Month IRA
2.10%$500-48 Month IRA
2.00%$500-36 Month IRA
1.90%$500-24 Month IRA
1.80%$500-18 Month IRA
1.70%$500-12 Month IRA
1.70%$500-15 Month Add-On IRA
1.40%$500-6 Month IRA


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