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Most Popular PenFed Credit Union Accounts

Account TypeAPYAccount NameMinMax
CD1.87%12 Month Money Market Certificate$1k-Details »
CD1.97%18 Month Money Market Certificate$1k-Details »
View all PenFed Credit Union accounts »

Overview / Commentary
7940 Jones Branch Drive
McLean, VA 22102

Pentagon Federal Credit Union ("PenFed"), a DepositAccounts.com advertiser, serves more than 1.6 million members, including many in the Air Force, Army, Coast Guard, Department of Homeland Security, Department of Defense, and the Veterans of Foreign Wars. PenFed is one of the largest credit unions in the country and offers a range of banking products and services, in addition to credit cards and loans.

On its personal banking side, PenFed offers savings accounts including checking accounts, Money Market accounts, Certificates, Coverdell Education Savings Certificates, and IRA accounts. PenFed’s Access America Checking earns dividends and comes with free online bill payment and mobile check deposit. PenFed’s regular savings account earns dividends, which are compounded daily and credited monthly. Money Market Savings accounts are available and come with free checks, have no regular service fees, and offer tiered rates of dividends for greater account balances. DepositAccounts.com has featured PenFed’s Certificates, referred to as ‘Money Market Certificates,’ repeatedly in the past for their competitive dividend rates. IRA accounts are also available, providing a retirement savings alternative.

PenFed online banking is a secure banking platform through which members can access their accounts, transfer funds, pay bills, and view transaction history. The credit union has optimized its website for mobile banking and released a mobile app to make account management easy and convenient on the go. The credit union introduced its ACH online transfer service in the spring of 2012, making it easy for members to transfer funds into and out of these liquid accounts.

Pentagon Federal Credit Union has more than $23 billion in assets. It was originally established in 1935 and is headquartered in Alexandria, Virginia. The credit union serves members in each U.S. state and at military bases in Puerto Rico, Guam, and Okinawa. PenFed is federally insured by the NCUA.

Field of Membership Restrictions

Membership in PenFed Credit Union is open to anyone through membership in Voices For America's Troops ($17 one-year membership fee) or the National Military Family Association ($17 donation). Membership is also open to the following: (1) members of the United States Military and Uniformed Services; (2) employees of the U.S. government; (3) live or work in Fort Hood, Fort Gordon, Fort Shafter, Belvoir, Virginia and other select military or U.S. government locations; (4) employees of American Red Cross, Anderson Air Force Base, and over 100 Select Employer Groups; (5) members of Marine Corps League, National Military Family Association, and over 40 military-related associations; (6) and to immediate family of those who are eligible. (Complete membership requirements are listed in the credit union's online application)
See current membership details

Related Posts

Certificate Rate Increases - 2/2/2018

6 Month 1.30% 1.30%** was 1.00% 12 Month 1.85% 1.87% was 1.61% 15 Month 1.90% 1.92% was 1.71% 18 Month 1.95% 1.97% was 1/77% 2 Year 2.00% 2.02% was 1.87% 3 Year 2.05% 2.07% was 1.92% 4 Year 2.15% 2.17% was 2.02% 5 Year 2.40% 2.43% was 2.27% 7 Year 2.45% 2.48% was 2.27% https://www.penfed.org/accounts/money-market-certificate/?s_cid=23435-_-PG5-_-CDA-_-em-_-VTY136-_-txt-_-GT2-_-01312018-_-12312018

CD Rates Up at PenFed But There Are No Rate Leaders - 2/1/2018

All of PenFed's certificate and IRA certificate rates increased today. The rates for all of the terms are less than the rates at several internet banks.

Slight Rate Increase On Some Money Market Certificates - 12/2/2017

6 Month 1.00% 1.00%** 12 Month 1.60% 1.61% 15 Month 1.70% 1.71% <--- 18 Month 1.75% 1.77% <--- 2 Year 1.85% 1.87% <--- 3 Year 1.90% 1.92% 4 Year 2.00% 2.02% 5 Year 2.25% 2.27% 7 Year 2.25% 2.27%

View all posts from:

6/29/15 - Pentagon Share Certificate (CD) Penalty Change
5/23/15 - Pentagon Federal Lowered 1 Yr. CD Rates
5/1/15 - PenFed CU Raise Rates On 1-Year And 2-Year CDs To Competitive Levels
5/1/15 - Penfed CD Rate Increase
1/14/15 - Another Rate Drop At Pen Fed
1/1/15 - Happy New Year! Update on PenFed CD Rates
12/10/14 - PenFed's Surprising CD Rate Hike
12/1/14 - Penfed's December Certificate Rates Nosedive
11/3/14 - PenFed’s New November CD Rates
11/1/14 - PenFed Lowers Most Money Market Certificate Rates But Raises 3-year Rate
10/3/14 - PenFed CU Raises Rates On CDs With 1-Year CD Very Competitive
10/2/14 - Penfed 1 Year Money Market Certificate Rate Increase
9/20/14 - How Can Penfed CU Change My Mailing Address Behind My Back?
9/2/14 - CD Rate Hikes at PenFed, 1-Year CD Now Competitive
8/8/14 - Rate Collapse Since March 2014
7/1/14 - Penfed Real Estate Rewards Changed To Favor ARM Mortgages
6/20/14 - PenFed Savings Account And Money Market Account Rates Bottom Out
5/16/14 - Have You Noticed The Dismal Money Market Certificate Rates At PenFed?
3/7/14 - Pentagon Federal CU Fourth Quarter Growth
3/1/14 - PenFed Slashes CD Rates for March
2/7/14 - Tips for Those with PenFed CDs Maturing in February
1/30/14 - PenFed CD Rates Going Down for New CDs in February
1/29/14 - C/R Told Me Penfed Will Be Lowering Their Certificate Rates For New Money
1/22/14 - Opening a Long-Distance CD at PenFed - A Personal Story
1/21/14 - DepositAccounts’ $100 million December…and $2.5 million in Penfed CDs
1/15/14 - Update on Early Withdrawals from PenFed IRA CDs
1/1/14 - Happy New Year! PenFed Continues Its Top CD Rates
12/27/13 - Heads Up Ref 3% CD's
12/24/13 - PenFed CDs - How Much Have You Invested?
12/17/13 - Four Important Points about PenFed’s CDs and IRA CDs
12/1/13 - PenFed Comes Through With New Top CD Rates
11/21/13 - PenFed May Hike 5- and 7-Year CD Rate in December
11/14/13 - Update on PenFed’s Top CD Rates
11/5/13 - 3 Yr Cd @.2.02%
11/1/13 - PenFed Raises 3-Year and 4-Year CD Rates
11/1/13 - PenFed Money Market Certificate Rate Increase
9/30/13 - PenFed Announces a Large CD Rate Increase for October
9/29/13 - New Higher CD Rates At Penfed Starting Oct 1st
9/2/13 - Higher CD Rates at Pentagon Federal Credit Union
8/12/13 - Closing A Penfed Account
8/8/13 - Penfed Offers Chip Enabled Platinum Rewards Card
7/19/13 - New Paper Statement Fee at Pentagon Federal Credit Union
5/1/13 - PenFed May 1st CD Rate Cuts - Rates Fall 25 bps
4/1/13 - Monthly Rate Drop
3/8/13 - Penfed ATM Cards
3/5/13 - Penfed Platinum Cash Rewards Card
2/27/13 - PenFed CD Rates Will Be Falling in March
1/2/13 - PenFed Increases CD Rates Again - Top 1-, 2- & 3-Year CD Rates
12/27/12 - Will Penfed Have A January CD Special?
12/6/12 - Preventing Accounts From Being Labeled Inactive - Review of PenFed's Policy
12/3/12 - PenFed CD Rate Changes - New Top 2- and 3-Year CD Rates
11/1/12 - Big Rate Increases For Some of PenFed CDs
8/1/12 - PenFed Slashes its Long-Term CD Rates
6/18/12 - PenFed's New ACH Online Transfer Service
3/6/12 - Website Change At Pentagon Federal Credit Union
3/2/12 - CD Rates Drop at PenFed, But They Remain Competitive
3/1/12 - Pen Fed CD Rate Drop
2/12/12 - Penfed Money Market Certificate Renewals
1/2/12 - Update on PenFed's January 2012 CD Rates
12/28/11 - Rumors Of New Penfed 3.00% 10-Year CD In January
11/23/11 - New Service Fees At Pentagon Federal As Of Sept 2011
10/5/11 - PenFed's Long-Term CD Rates are Now Competitive
8/20/11 - Pen Fed Branch Offices Are Useless
7/29/11 - Penfed Contingency Plan In Case Of Government Default
5/26/11 - Penfed CD Penalty Change Alert
4/7/11 - Larger CD Early Withdrawal Penalties
3/8/11 - Update on Future PenFed 10-Year CDs
3/1/11 - PenFed Cuts CD Rates By 25 Basis Points
2/2/11 - February 2011 Maturing CD's Bonus 25 Basis Points
1/11/11 - Malware on Laptop Caused Security Breach at PenFed
1/1/11 - PenFed CD Update for January
12/30/10 - Important Note For Those Who Reserved CDs In The Penfed Watch It Grow CD Promotion
12/1/10 - PenFed Lowers CD Rates But Long-Term CD Rates Remain Competitive
11/11/10 - Why PenFed's 7-Year CD Is A Hot Deal
9/28/10 - Update on PenFed's CD Reservation Promotion - New End Date
9/20/10 - Update on PenFed's CD Reservation Promotion
9/18/10 - PenFed Cutting Costs by Eliminating a Toll-Free Number
9/1/10 - PenFed Lowers CD Rates But Some Rates Remain Competitive
8/19/10 - Select PenFed Members Can Reserve CDs with Yields from 3.50% to 5.00%
8/19/10 - New CD Rollover Promotion At Pentagon Federal Credit Union
8/2/10 - PenFed's New 7-Year CD and IRA CD Rate - Available Nationwide
7/9/10 - Penfed Offers Remote Deposit To Members With Checking Accounts
3/31/10 - CD Rates Fall at Pentagon Federal Credit Union
3/23/10 - Pentagon FCU Adds Private Student Loan Program to Education Loan Portfolio
3/3/10 - PenFed's New No-Fee Credit Card, the PenFed Promise Card
2/1/10 - Penfed Keeps Its Competitive CD Rates into February
1/24/10 - Joining PenFed When You Have a Credit Freeze
1/9/10 - Updates on Pentagon FCU's Rewards Credit Cards
1/9/10 - PenFed's New Cash Back Credit Card Feature
1/6/10 - Update on PenFed CDs and CD Rollovers
1/5/10 - Happy New Year! PenFed Raises CD Rates for January
12/2/09 - Certificate and Credit Card Deals at Pentagon Federal Credit Union - Available Nationwide
12/2/09 - Update on PenFed CDs for January - New and Rollover CDs
9/20/09 - Tips for Those With Maturing CDs at PenFed and Other Credit Unions
9/1/09 - 4.00% 7-Year CD Continues But Other CD Rates Have Fallen at Pentagon FCU
8/5/09 - PenFed's Cash Back Credit Card Back-to-School Promo
7/28/09 - Useful IRA CD Feature at Pentagon Federal Credit Union
7/1/09 - Update on Pentagon Federal Credit Union's Certificates - Update
6/2/09 - Update on Pentagon Federal Credit Union's Certificates
5/19/09 - Update on Pentagon Federal Credit Union CDs, Credit Cards and Other Products
5/10/09 - PenFed's Cash Back Credit Card Adds Another 5% Category
3/3/09 - Pentagon Federal Credit Union's March CD Rates
2/3/09 - Pentagon Federal Credit Union's February CD Rates
1/1/09 - New CD Rates at Pentagon Federal Credit Union
12/17/08 - Pentagon Federal Credit Unioin's 4.75% 3-Year CD
11/25/08 - Last Days of 5% CDs at Pentagon Federal Credit Union
11/1/08 - PenFed Extends the 5% CDs into November
11/1/08 - Last Week for 5% 36-Month CD at Pentagon Federal Credit Union
10/2/08 - 5% CDs at Pentagon Federal Credit Union - Nationally Available
8/3/08 - Update on PenFed's 6.00% CDs
5/1/08 - Higher Long Term CD Rates at Pentagon FCU
2/28/08 - New PenFed CD Rates - Down But Still Competitive - Update
2/1/08 - New PenFed CD Rates - Down But Still Competitive
2/1/08 - It's Official: 6.00% 3 to 7 Year CDs at Penfed
12/27/07 - New PenFed Certificate Rates Released
12/20/07 - PenFed's Special January CD Rates and Other Planned Promotions
10/13/07 - New High Yield CDs From Penfed? 6.00%?
10/13/07 - Friday is Last Day for PenFed's 6 Percent CDs
6/14/07 - It's Official: 6.25% CDs at Penfed
6/14/07 - Change in Policy on Pentagon FCU's IRA Certificates
2/1/07 - Penfed's CD Rates Drop More Than Expected
1/28/07 - Update on Penfed's 6.25% CDs
1/26/07 - Early Withdrawals from IRA CDs (Penfed vs. Navy FCU)
12/31/06 - Penfed's Visa Platinum Cash Rewards Credit Card
12/29/06 - Updates on Penfed and its 6.25% CDs
12/21/06 - 6.25% CDs Coming to Penfed?
9/17/06 - Joining Penfed and Purchasing a Money Market Certificate
8/31/06 - Penfed Surprise: 6.00% 3 to 5 Year CDs
4/27/06 - 6.00% 36-Month CD at Penfed CU
12/29/05 - New High-Rate Long-Term CDs

Reviews (113)

Outstanding Customer Support

I have been a faithful member of PenFed Credit Union for many years. I am completely satisfied with the service I have received over the years. I have used PenFed for all of my banking needs from Checking, Savings, and loans both home and auto. I also have used PenFed for my debit and credit cards.
There rates are competitive and often better than most. Whenever I have needed help over the years for any number of reasons, PenFed was there and delivered. I am and have been a proud member of PenFed and have no plans on changing. I would recommend PenFed for anyone who is looking for a long-term quality financial institution. They are simple the best!

Overall Good Credit Union

Posted by: Compubl | Feb 5, 2018

I love being a customer of PenFed Credit Union. It's a great credit union to have both checking and savings accounts. They offer many different types of savings and checking accounts. I use and enjoy the Access America checking account as there is no monthly maintenance fee if you have a direct deposit of $500 or more, which unfortunately is a little higher than other financial institutions. However, you can also avoid a monthly maintenance fee by having a sufficient minimum balance. Another bonus of the Access America checking account is you can open it with only $25. The only downside of PenFed Credit Union is that there are not many physical branches to visit. I like the branch in Hanover, MD. However, although there are not many branches the have an amazing online banking experience and you have access to over 60,000 free ATM's.

PenFed the snail

Posted by: Atension | Jan 13, 2018

I have a PenFed checking account that I want to get rid of! For starters, I hate how long it takes for transactions to post to my account. I can swipe my debit card at the store, and the charge not show up for 3 days. This is especially alarming due to fraud commonality these days. Another thing is that this credit union has antiquated procedures in place for requesting a new debit card or closing an account. You have to download forms and mail them. They do have a convenient billpay service, but one must use this with caution. My bills were always paid late, even when I submitted the request a week early. There is no easy way to transfer money fast as with other CU's, this is so inconveneint. Lastly, the $10 account fee that I am paying for this account irks me to no end. I have never been happy with this account, my debit card deactivates on its own and hardly works with all merchants. I am giving away free money. When I call customer service to request better service or accommodation, the agents sound like they just awoke from a nap. I was told to just withdraw my money from the account and send in the form to close it. No effort to keep a member at all. They are very nonchalant and have to empathy skills whatsoever. I have an account at another CU that I prefer to use, so so I just need to get with them and close this account asap. If you have any further questions feel free to contact me.

Gone Way Downhill

Posted by: EricJ | Aug 18, 2017

I was a member here for quite a few years, used to be a good CU, but rates have made me move about 10 CDs elsewhere over time and now customer service is terrible.

Tried to log in the other day to get statement, was locked out and sent to a page saying my browser (Opera 47) was not supported. I'm a computer geek/programmer and was surprised cause Opera is maybe the most secure browser out there.

So called, busy, busy busy signal and finally got thru only to be on hold for over 15 min. so hung up.

Then sent an email about this, was told that Opera is supported (v39 and above) ... mine is v47. So I replied telling them this and after 4 days never got another reply.

Called again this morning and it wasn't hard to tell the 2 ppl I spoke to had no idea what I was talking about, asked me to send a screen shot to another email address which I will but done dealing with this CU regardless of rates.

I think it's strange they didn't reply to a direct email inquiry for days but as soon as I posted a negative review I got an instant reply. I am a little suspicious now of some of these great new reviews.




Health Grade Components

NCUA #227
Year Chartered1935
Primary Regulator
Profit Margin
Return on Assets - YTD0.94%
Return on Equity - YTD9.36%
Annual Interest Income$612.1MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$22.84B$20.66B
LoansQ3 2017vs Q3 2016$19.39B$17.97B
DepositsQ3 2017vs Q3 2016$17.64B$16.27B
Equity CapitalQ3 2017vs Q3 2016$2.29B$2.09B
Loan Loss AllowanceQ3 2017vs Q3 2016$78.9MM$53.4MM
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$91.3MM$55.8MM
Real Estate OwnedQ3 2017vs Q3 2016$5.9MM$5.4MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Certificate Rate Increases

njmacuser   |  
6 Month 1.30% 1.30%** was 1.00%
12 Month 1.85% 1.87% was 1.61%
15 Month 1.90% 1.92% was 1.71%
18 Month 1.95% 1.97% was 1/77%
2 Year 2.00% 2.02% was 1.87%
3 Year 2.05% 2.07% was 1.92%
4 Year 2.15% 2.17% was 2.02%
5 Year 2.40% 2.43% was 2.27%
7 Year 2.45% 2.48% was 2.27%


Slight Rate Increase On Some Money Market Certificates

njmacuser   |  
6 Month 1.00% 1.00%**
12 Month 1.60% 1.61%
15 Month 1.70% 1.71% <---
18 Month 1.75% 1.77% <---
2 Year 1.85% 1.87% <---
3 Year 1.90% 1.92%
4 Year 2.00% 2.02%
5 Year 2.25% 2.27%
7 Year 2.25% 2.27%

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Always verify rates and promotions with the bank or credit union. We are not PenFed 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.

PenFed Credit Union Savings Account Rates

0.05%-$2,500Regular Savings
0.05%$25-IRA Savings Account
0.05%$10k-IRA Premier Account

PenFed Credit Union Money Market Rates

0.15%*$100k*-Money Market Savings Account
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $100k

PenFed Credit Union Checking Account Rates

0.50%*$20k*$50kAccess America Checking
OTHER TIERS: 0.20% Up to $20k

PenFed Credit Union CD Rates

2.48%$1k-7 Year Money Market Certificate
2.43%$1k-5 Year Money Market Certificate
2.17%$1k-4 Year Money Market Certificate
2.07%$1k-3 Year Money Market Certificate
2.02%$1k-2 Year Money Market Certificate
1.97%$1k-18 Month Money Market Certificate
1.92%$1k-15 Month Money Market Certificate
1.87%$1k-12 Month Money Market Certificate
1.30%$1k-6 Month Money Market Certificate

PenFed Credit Union IRA Rates

2.43%$1k-7 Year IRA
2.43%$1k-7 Year CESA
2.38%$1k-5 Year IRA
2.38%$1k-5 Year CESA
2.12%$1k-4 Year IRA
2.12%$1k-4 Year CESA
2.02%$1k-3 Year IRA
2.02%$1k-3 Year CESA
1.97%$1k-2 Year IRA
1.97%$1k-2 Year CESA
1.82%$1k-1 Year IRA
1.82%$1k-1 Year CESA