APY | ACCOUNT TYPE | HOW THEY COMPARE |
---|---|---|
3.15% | 5-year CD | 3.10% - Barclays 60 Month Online CD |
3.15% | 6+ Year CD | 2.33% - National Average |
2.95% | 4-year CD | 2.90% - Barclays 48 Month Online CD |
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.
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
Featured Account Options | SPONSORED LISTINGS | ||||
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I recently conducted an important account transaction/transfer with PenFed, and it was handled very promptly and professionally. However, I wish I could do those transactions from the webpage, instead of having to mail a letter.
I'm very happy that you can now have the FULL AMOUNT of your maturing certificate sent back to your linked bank via ACH. I wish they would allow us to do the same with money in regular savings. (current ACH transfer limit is 5k per day?)
And lastly, I'm glad to see a new premium savings account with a 2% yield. That's a good start, PenFed. Any chance that rate may increase to 2.30 or 2.40%? :) Thanks for the great service.
I’ve had several CD’s at PenFed. They do not close the CD out until midnight on the date of maturity. So the funds aren’t available until the next day, making the maturing date actually one day more. However, when I called the CSR, I was informed that they can manually transfer the funds on the true mature date. So overall, PenFed did okay by me.
Not too happy with finding out that money moved between your own Penfed accounts is unavailable for 6 days! Never experienced that with any other of the many banks I have used. Most transfers from Outside institutions is only 3 days between most banks!
My CD matured on 12/16/18, a Sunday. The maturity proceeds were supposed to go into my Money Market account. Not seeing any activity in my accounts this morning, I call customer service. After a long 20-minute hold, I am told the CD maturity amount will be made available at midnight today (12/17/18) since yesterday was not a business day. So, effectively my money is not available until Tuesday, 12/18/18. Keeping fingers crossed that it will actually become available and no hope for any interest after 12/16/18. Wonder if they will pay interest only upto 12/14/18, since 15th and 16th were not business days.
Overall | |
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NCUA # | 227 |
Year Chartered | 1935 |
Employees | 2480 |
Primary Regulator |
Profit Margin | |
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Return on Assets - YTD | 0.72% |
Return on Equity - YTD | 7.15% |
Annual Interest Income | $690.5MM |
Assets and Liabilities | ||
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Assets | Q3 2018vs Q3 2017 | $24.08B$22.84B |
Loans | Q3 2018vs Q3 2017 | $20.07B$19.39B |
Deposits | Q3 2018vs Q3 2017 | $18.34B$17.64B |
Equity Capital | Q3 2018vs Q3 2017 | $2.39B$2.29B |
Loan Loss Allowance | Q3 2018vs Q3 2017 | $112.1MM$78.9MM |
Unbacked Noncurrent Loans | Q3 2018vs Q3 2017 | $129.9MM$91.3MM |
Real Estate Owned | Q3 2018vs Q3 2017 | $3.9MM$5.9MM |
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.
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.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
2.00% | $5 | $100k | Premium Online Savings | |
0.05% | $1 | $2.5k | Regular Savings | |
0.05% | $25 | - | IRA Savings Account | |
0.05% | $10k | - | IRA Premier Account |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.15%* | $100k* | - | Money Market Savings Account | ||
OTHER TIERS: 0.05% → Up to $10k | 0.10% → $10k - $100k |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.50%* | $20k* | $50k | Access America Checking | ||
OTHER TIERS: 0.20% → Up to $20k |