Pen Air Credit Union


Overview / Commentary
850-505-3200
1495 E Nine Mile Rd
Pensacola, FL 32514

Pen Air Credit Union is headquartered in Pensacola and is the 13th largest credit union in the state of Florida. It is also the 192nd largest credit union in the nation. It was established in 1936 and as of September of 2022, it had grown to 328 employees and 121,331 members at 11 locations. Pen Air Credit Union's money market rates are 5X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Pen Air Credit Union is open to anyone by becoming a member of the Friends of the Navy-Marine Corps Relief Society by making a $1 donation. Membership is also open to individuals who live, work, worship, or attend school in the Florida counties of Bay, Calhoun, Escambia, Franklin, Gadsen, Gulf, Holmes, Jackson, Leon, Liberty, Okaloosa, Santa Rosa, Wakulla, Walton, or Washington, OR the Alabama counties of Baldwin or Mobile. Active duty or retired military, federal civil service employee, and employees of several Select Employer Groups are also eligible to join.
See current membership details

Related Posts

Pen Air Credit Union Introduces Competitive 28-Month CD - 1/26/2023

Pen Air Credit Union (easy membership) has added a competitive 28-month Certificate. Minimum opening deposit is $500, with no stated balance cap.

Pen Air Offers 28-Month Certificate At 4.75% APY - 1/23/2023

Here are the published terms *APY – Annual Percentage Yield. Dividends compounded and credited monthly. Minimum opening balance is $500. Penalties may apply for early withdrawal. Rates are subject to change. This 28-Month Certificate is available starting 01/23/2023 Pen Air reserves the right to discontinue or modify offer at any time. This rate is not valid for Individual Retirement Accounts. Membership is required. To learn more visit penair.org or call 877-4-PENAIR (877.473.6247). https://www.penair.org/certificates-of-deposit/

Pen Air Credit Union 18-Month CD Is New Rate Leader - 12/23/2022

Pen Air Credit Union (easy membership) is currently offering a rate-leading APY on its 18-month CD. Minimum opening deposit is $500, with no stated balance cap.

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What A Wonderful Experience!

Posted by: |

I went online and the application process was very easy. I only had one concern at the end of the process when it stated I would need to send a check. I contacted customer service via the chat function and Shakiya said she would help. She was fantastic! She finished the application process at 5pm and the very next morning she had the account opened and sent me the wiring information to fund my new accounts. The CD rates are competitive, the online banking is easy to use, and the customer service from Shakiya was A+. I was a private banker for over a decade and I am all about customer service. I do not write nice reviews unless they are deserved and Shakiya deserves to be recognized. Thank you so much for making this a very easy process!

Dormant Account Fee

Posted by: |

I had a CD there. When it came due, I took out the money, but I left $25 in the share savings account to keep it open. I transferred some money to open the add-on CD. I went to log in yesterday, and I couldn't. I spoke to a very helpful and pleasant customer service rep, Jocie. The reason I could not access my account was because I hadn't logged in for 6 months. So I had to re-register for online banking.

She also told me I had been charged a dormant account fee of $30 on November 30, but she credited that back to me.

Lastly, I was easily able to change my beneficiary to a trust (believe me, at one credit union it took numerous calls and finally, a new form) via a docusign document she set up while I was on the phone.

Account Clarifications

Posted by: |

I spoke with a representative today who states that membership approval requires a soft credit report pull not a hard pull. Tomorrow I'll find out if a 12 month no activity fee would be assessed if someone creates no activity or no further deposits during a 18 month CD term. The initial share deposit is a bit more than most credit unions who require just a $5 opening deposit.

Be Prepared To Get Declined When Applying For A Saving Account

Posted by: |

Pen Air CU's CD product has attractive rate. I decided to open a CD account with them. I filed in application online on Dec 28, 2022, for a membership saving account and a 18-month CD account.

They declined my application without any reason today on Dec 29, 2022. This is the exact message I got from them: 'At this time, we are unable to move forward with opening the requested account. We will mail you at the address listed on the application to explain our decision in further detail.'.

Customer service member was gentle but clueless. They had good attitude but were not helpful at all. No reconsideration is available, and I have to move forward since they are 'unable to move forward'...

I am not a FL local resident, and have over 16 years credit history and TU score 745 as Dec 24, 2022.

Honestly, I do not care their 'decision in further detail' since the decision is final.

I have spent hours on researching their product and the CD product deserves 5-star review, as long as an applicant can get approved...

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Health
B+

Health Grade Components

Overall
NCUA #68734
Year Chartered1936
Employees328
Primary Regulator
Profit Margin
Return on Assets - YTD1.08%
Return on Equity - YTD16.78%
Annual Interest Income$56.4MM
Assets and Liabilities
AssetsQ3 2022$2.24B
LoansQ3 2022$1.28B
DepositsQ3 2022$2.01B
Equity CapitalQ3 2022$143.8MM
Loan Loss AllowanceQ3 2022$12.9MM
Unbacked Noncurrent LoansQ3 2022$6.8MM
Real Estate OwnedQ3 2022$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Pen Air Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Pen Air Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$25k*-Share Savings Accounts
OTHER TIERS: 0.10% $25 - $25k
0.30%--Christmas Club
0.30%--Level Up Savings
0.30%--Level Up Secondary Savings

Pen Air Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*$200k*-Money Market
OTHER TIERS: 0.35% $2.5k - $25k | 1.00% $25k - $75k | 1.25% $75k - $200k

Pen Air Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.75%$500-28 Month CD Special
2.85%$500-60 Month CD
2.75%$500-48 Month CD
2.70%$500-36 Month CD
2.65%$500-24 Month CD
2.60%$500-18 Month CD
2.55%$500-15 Month Add-On CD
2.45%$500-12 Month CD
1.35%$500-6 Month CD
1.00%$500-3 Month CD

Pen Air Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.85%$500-60 Month IRA
2.75%$500-48 Month IRA
2.70%$500-36 Month IRA
2.65%$500-24 Month IRA
2.60%$500-18 Month IRA
2.55%$500-15 Month Add-On IRA
2.45%$500-12 Month IRA
1.35%$500-6 Month IRA
Locations

Availability

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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.