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PenFed Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
1.41%6+ Year CD7 Year Money Market Certificate
1.41%5-year CD5 Year Money Market Certificate
1.31%4-year CD4 Year Money Market Certificate

Overview / Commentary
703-838-1000
2930 Eisenhower Ave
Alexandria, VA 22314

Pentagon Federal Credit Union ("PenFed") serves more than 1.4 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 $19 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

You are eligible for membership through your employment, association membership, or volunteerism. Membership is open to anyone who is in the United States Military & Uniformed Services; an employee of a qualifying organization; an employee of the United States government; a relative or housemate of someone who is eligible; or anyone who lives or works at an eligible location. Additionally, your membership eligibility may also be established through either the National Military Family Association or Voices for America's Troops. Membership into these two associations is open to anyone for a low, one-time only donation or membership fee.
See current membership details

Related Posts

PenFed CU Raises Rate On Access America Checking - 5/3/2016

PenFed Credit Union (easy membership) has raised the rate on its Access America Checking (1.01% APY on qualifying balances between $20k and $50k).

Belvoir Federal Credit Union Will Be Merging Into PenFed - 4/4/2016

In more credit union merger news, it was announced last week that Belvoir Federal Credit Union will be merged into PenFed effective May 1, 2016.

Penfed Merging With Belvoir FCU On May 1 - 4/4/2016

PenFed to Merge Belvoir FCU May 1

View all posts from:

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
3/27/12 - Automatic Renewals Can Be Costly for CD Investors
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
1/12/12 - Credit Union Terminology for CDs & Deposit Insurance
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
1/5/10 - Update on PenFed CDs and CD Rollovers
1/1/10 - Happy New Year! PenFed Raises CD Rates for January
12/2/09 - Update on PenFed CDs for January - New and Rollover CDs
11/20/09 - Certificate and Credit Card Deals at Pentagon Federal Credit Union - Available Nationwide
10/18/09 - Update on ACH Transfers at PenFed and the Issue of Restrictive ACH Policies
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
5/10/09 - PenFed's Cash Back Credit Card Adds Another 5% Category
4/3/09 - Update on Pentagon Federal Credit Union CDs, Credit Cards and Other Products
3/2/09 - 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
10/28/08 - Last Week for 5% 36-Month CD at Pentagon Federal Credit Union
10/1/08 - 5% CDs at Pentagon Federal Credit Union - Nationally Available
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
1/2/08 - PenFed's New Cash Back Credit Card Feature
12/27/07 - New PenFed Certificate Rates Released
12/20/07 - PenFed's Special January CD Rates and Other Planned Promotions
10/9/07 - Friday is Last Day for PenFed's 6 Percent CDs
10/3/07 - Update on PenFed's 6.00% CDs
9/27/07 - It's Official: 6.00% 3 to 7 Year CDs at Penfed
9/26/07 - New High Yield CDs From Penfed? 6.00%?
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
12/28/06 - It's Official: 6.25% CDs at Penfed
12/23/06 - Bank Deals Summary for Dec 23, 2006 (Short Version)
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
5/8/06 - 5.50% 36-Month CD at a New York Bank
4/28/06 - 5.50% 30-Month CD at Florida Bank
4/27/06 - 6.00% 36-Month CD at Penfed CU
3/17/06 - 5.64% 36-Month CD at a Michigan CU
2/15/06 - 5% One-Year CDs Proliferate
1/27/06 - GDP Growth Slows - Effect on Fed and Rates?
1/25/06 - 5.63% 5-year CD at a Texas CU
1/18/06 - Small Declines in Long-Term CDs
12/29/05 - New High-Rate Long-Term CDs

Best CD Rates Ever

Posted by: Frank32 | May 3, 2016

Before I joined the Pentagon Federal Credit Union (PenFed), I was pleased to hear that PenFed had the highest CD rates in the country. We're always looking for the best rates. We frequently review the best CD rates online. At the time, PenFed was offering a 3% annual rate on a 60 month CD. There was nothing else like it at the time, so we opened an account there and never looked back. Their service is the best, and we've had no hassles at all. I have been very impressed with PenFed and would definitely recommend them. Some credit unions restrict membership, but with PenFed anyone can join. So, it is easy to get good service and higher rates. It was very easy to set up our account and transfer funds from another bank. We were able to do most of the setup online and were very happy with the very high interest rate which is still one of the highest rates around.

Great Credit Union. Go For Something Different.

Posted by: mcpeak022 | Apr 21, 2016

Penfed Credit Union is great for those looking for a change from your big banks. They offer a personal experience where you really feel that you are a part of the bank. I opened up new accounts at a branch and even transferred my savings account over from one of these other big banks. I am extremely happy with the rates they provide and the services offer. I no longer have to worry about phantom fees with their no hassle checking accounts. Do yourself a favor and check out Penfed. You will see the difference as it is night and day from typical big banks. I especially recommend their no hassle checking accounts which will save you time and money as you no longer have to constantly worry about whats coming in or going out.

Wire Transfer Very EASY

I had a CD mature this morning, and the wire transfer procedure was the best I've used, all done by telephone with an efficient (Jessica) CSR. The only thing is that they carefully verify my identity with 3 questions that only I would know. Other banks have tedious (faxing, telephone back, photo ID) procedures that are so onerous and time-consuming. This morning's procedure took about 6 minutes. I usually like to write a check when a CD matures, but had forgotten that I had canceled the account due to minimum monthly requirements.

Re-Ordering Personal Checks

When re-ordering personal checks always call the credit union and place the order through a customer service representative. That way there will be no cost. If one re-orders online through the PenFed web site the cost is $5.75. If one re-orders through the web site on the re-order form supplied with the checks the cost would be in excess of $20.00.

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Health
A

Health Grade Components

Overall
NCUA #227
Year Chartered1935
Employees1625
Primary Regulator
Profit Margin
Return on Assets - YTD0.82%
Return on Equity - YTD8.29%
Annual Interest Income$606.9MM
Assets and Liabilities
AssetsQ4 2015vs Q4 2014$19.46B$17.80B
LoansQ4 2015vs Q4 2014$17.43B$16.27B
DepositsQ4 2015vs Q4 2014$15.32B$13.95B
Equity CapitalQ4 2015vs Q4 2014$1.92B$1.76B
Loan Loss AllowanceQ4 2015vs Q4 2014$47.0MM$44.7MM
Unbacked Noncurrent LoansQ4 2015vs Q4 2014$50.5MM$44.6MM
Real Estate OwnedQ4 2015vs Q4 2014$8.0MM$5.2MM
  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.

Penfed Merging With Belvoir FCU On May 1

Carpline   |  

Penfed Lowers CD Rates

luvmycat   |  
New rates on 2/23/16:
6 Month 0.60%
1 Year 1.10%
15 Month 1.15%
2 Year 1.30%
3 Year 1.30%
4 Year 1.30%
5 Year 1.40%

Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%-$2,500Regular Share Savings
0.05%$25-IRA Share Account
0.05%--IRA Premier Account

PenFed Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.01%*$20k*$50kAccess America Checking w/ direct deposit
OTHER TIERS: 0.50% Up to $20k

PenFed Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.41%$1k-5 Year Money Market Certificate
1.41%$1k-7 Year Money Market Certificate
1.31%$1k-2 Year Money Market Certificate
1.31%$1k-3 Year Money Market Certificate
1.31%$1k-4 Year Money Market Certificate
1.16%$1k-15 Month Money Market Certificate
1.11%$1k-1 Year Money Market Certificate
0.60%$1k-6 Month Money Market Certificate

PenFed Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.36%$25-5 Year Roth IRA
1.36%$1k-5 Year IRA
1.36%$1k-7 Year IRA
1.36%$25-7 Year Roth IRA
1.36%$1k-5 Year CESA
1.36%$1k-7 Year CESA
1.26%$25-2 Year Roth IRA
1.26%$25-3 Year Roth IRA
1.26%$25-4 Year Roth IRA
1.26%$1k-3 Year IRA
1.26%$1k-2 Year IRA
1.26%$1k-4 Year IRA
1.26%$1k-2 Year CESA
1.26%$1k-3 Year CESA
1.26%$1k-4 Year CESA
1.06%$25-1 Year Roth IRA
1.06%$1k-1 Year IRA
1.06%$1k-1 Year CESA
Locations

PenFed Credit Union has 35 locations. Click to view all PenFed Credit Union locations.