Open an AccountPenFed Credit Union
Most Popular PenFed Credit Union Account
| Account Type | APY | Account Name | Min | Max | |
|---|---|---|---|---|---|
| CD | 1.41% | 1 Year Money Market Certificate | $1k | - | Details » |
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
4/1 - PenFed Ups CD Rates with Competitive Mid-Term CD Rates
3/20 - Penfed And Valor CU Prime Rate CDs
3/1 - Penfed Cuts 1-Yr, 15-Mo, 5-Yr And 7-Yr CD Rates
2/1 - CD Rate Cut
1/1 - PenFed Kicks Off New Year with Competitive Long-Term CD Rates
1/1 - New CD Rates--APR/APY
11/11 - PenFed Credit Union Raises CD Rates
11/11 - CD Rate Increases
11/1 - New November CD Rates At Penfed - Only Small Rate Increases
10/2 - Penfed Ups Short-Term CD Rates - Long-Term CDs Remain Disappointing
5/3 - PenFed CU Raises Rate On Access America Checking
4/4 - Belvoir Federal Credit Union Will Be Merging Into PenFed
4/4 - Penfed Merging With Belvoir FCU On May 1
2/23 - Penfed Lowers CD Rates
1/23 - PenFed Credit Union Offers New Competitive 15-Month CD
1/23 - 15 Mo CD 1.51% APY
5/23 - Pentagon Federal Lowered 1 Yr. CD Rates
5/1 - PenFed CU Raise Rates On 1-Year And 2-Year CDs To Competitive Levels
5/1 - Penfed CD Rate Increase
1/14 - Another Rate Drop At Pen Fed
1/1 - Happy New Year! Update on PenFed CD Rates
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
9/18/10 - 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
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
2/1/08 - It's Official: 6.00% 3 to 7 Year CDs at Penfed
12/27/07 - New PenFed Certificate Rates Released
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
1/26/07 - 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
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
Awesome service
I bank with Penfed (also known as Pentagon Federal Credit Union.) I have been there for many years. My experiences with PenFed have mostly been good ones. I recall one time I had forgotten my user name and password and after messing up the login enough times I was locked out, so I called them on a Saturday night and got a real person who was very helpful and even fun to talk to on the line. After he asked me some personal security questions I was able to figure out what was going on and get into my account. It was awesome to me that I could get someone late on a weekend and not just an automated machine like most banks do anymore. Get personal service, that is PenFed! Highly recommend.
Good overall experience but not competitive
Overall, I had a good experience with this bank. I prefer to use credit unions so I am always looking for one that I can join based on my job or other interests. I was able to join with no problem and I got my online account and login set up easily. Banking with this institution has been easy and no nonsense. Customer service is helpful and I have had no issues with calling them or using the website. However, I do think that some of the rates on products are not as competitive as other institutions. In comparing with other banks, I had to look elsewhere for aevery one of my banking needs. I do think deposits and normal, every day banking is good though. I cannot meet all of my needs at this institution only, however.
PenFed credit union is one of the best
I've been banking with Pentagon Federal Credit union for almost 10 years now. I have always counted on Penfed for the most competitive products in the banking industry. I first applied for a CD certificate with the union for a great rate. The application for the union went smoothly and they were quick to process my application. Everything from checking my identity to wiring money transfer from other bank could be done either online or via customer services on the phone. It took me less than 30 minutes to complete the application process and took Penfed no more than a few days to have my account and fund available. Over the years, there were number of times I have contacted Penfed customer service representatives, and I was always been greeted with a pleasant experience. All my questions and problem would be taken cared off. The Reps were so understanding and details on helping me to solve any issues i have had. What more is Penfed always try to be competitive with other banks by offering great products such as high rate saving, checking, money market and great on the home loan. I'm a happy Penfed customer.
Gone Way Downhill
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.
Beware
Data as of Q2 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 227 |
| Year Chartered | 1935 |
| Employees | 1915 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.97% |
| Return on Equity - YTD | 9.85% |
| Annual Interest Income | $395.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2017vs Q2 2016 | $22.81B$20.16B |
| Loans | Q2 2017vs Q2 2016 | $19.58B$17.76B |
| Deposits | Q2 2017vs Q2 2016 | $17.67B$15.94B |
| Equity Capital | Q2 2017vs Q2 2016 | $2.24B$2.04B |
| Loan Loss Allowance | Q2 2017vs Q2 2016 | $68.8MM$50.1MM |
| Unbacked Noncurrent Loans | Q2 2017vs Q2 2016 | $77.4MM$50.8MM |
| Real Estate Owned | Q2 2017vs Q2 2016 | $5.0MM$6.0MM |
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.
Small CD Rate Hikes At Penfed
1.41% apy 12mo CD (was 1.31%)
1.41% apy 15mo CD (no change)
1.61% apy 24mo CD (was 1.51%)
1.76% apy 36mo CD (no change)
1.87% apy 48mo CD (was 1.81%)
2.12% apy 60mo CD (no change)
2.22% apy 84mo CD (was 2.17%)
IRA CD rates are about 5 bps lower
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.05% | - | $2,500 | Regular Savings | |
| 0.05% | $25 | - | IRA Savings Account | |
| 0.05% | $10k | - | IRA Premier Account |
PenFed Credit Union Money Market Rates
| 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 | |||||
PenFed Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.50%* | $20k* | $50k | Access America Checking | ||
| OTHER TIERS: 0.20% → Up to $20k | |||||
