Open an AccountPenFed Credit Union
Most Popular PenFed Credit Union Account
| Account Type | APY | Account Name | Min | Max | |
|---|---|---|---|---|---|
| CD | 1.31% | 1 Year Money Market Certificate | $1k | - | Details » |
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
Membership in PenFed Credit Union is open to anyone through membership in Voices For America's Troops ($14 one-year membership fee) or the National Military Family Association ($15 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
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
9/28/10 - 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
Great Rates
The best thing about this credit union is the rates they give you on checking accounts and also on CD. They are much higher than the national average. In face they are a full one percent more than the national average. It makes me happy to know that I am getting paid to have my money in the bank and not just having it sit there. It makes me feel more like it should be and not that I am being taken advantage of like with the national banks. They also do not have tons of fees tied to their checking accounts so you actually may make money off of the interest rates instead of it being sucked up by junk fees. I also like the way they do overdraft. You can make a mistake and not have money to cover a check without getting slapped with a large fee like you do at many other banks. They also have a great customer service on their checking accounts at the branch and when you deal with them online. The online service rivals any other bank and really makes it such a great product.
Pretty good Credit Union
PenFed is one of the best banks that I have worked with in a long time and I'm sad to say we had to give them up because of a recent move. However, I have nothing but good things to say about PenFed. A few months ago we had our business debit cards stolen out of the mail and the person who stole them wiped us out of a LOT of money. Due to the bank's "automated suspicious activity" we were alerted very quickly that transactions did not match our previous spending habits and Pen Fed was quick to turn off our debit cards for both the company checking, savings as well as our personal checking and savings accounts. The cards were quickly flagged as stolen and everyone we spoke to was compassionate and responsive to our questions and concerns. They even worked with me and the police to catch the criminal. Ms. J was our "go to" person during this entire investigation and it was comforting to know that we had a person that we could relay information to and receive updates from. Most banks will not refund stolen money for at least 30 to 90 days after their investigation is complete. However, PenFed had most of our money back into the account within five days. The investigators, customer service and our account manager were nothing but helpful during this very stressful time.
Penfed, Useful for Some
I started an account at PenFed several years ago. I wanted to establish an account to think of getting a loan in the future. I used the account for several months. However, I found out later than another institution had better rates. However, I thought he usability of the mobile app and website were great. Everything was easy to use. The few times I called customer service the people were helpful and friendly. I enjoyed the experience for the time I used this bank.
My experience banking with PenFed.
I joined PenFed, also known as Pentagon Federal Credit Union, about 6 months ago. My initial attraction to them was their offerings of very low interest rates on various products, i.e. Auto loans, mortgage loans, personal loans as well as credit cards. Although I didn't have a need at the time in those products, I did want to open a checking and savings account with them and start building a financial relationship. Sign up was easy, did everything online. Set up direct deposit with a minimum monthly deposit of $500 to avoid the monthly checking fee. They also offer a monthly, free FICO score, which I like because I'm very OCD when it comes to my credit. I've had no problems with them, and the little contact I've had with them was in the form of secured messaging, reply was quick and answered my questions. Overall I find them a very competitive bank with courteous and helpful representatives.
Data as of Q4 2016
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 227 |
| Year Chartered | 1935 |
| Employees | 1829 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.87% |
| Return on Equity - YTD | 8.69% |
| Annual Interest Income | $679.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2016vs Q4 2015 | $21.30B$19.46B |
| Loans | Q4 2016vs Q4 2015 | $18.52B$17.43B |
| Deposits | Q4 2016vs Q4 2015 | $16.66B$15.32B |
| Equity Capital | Q4 2016vs Q4 2015 | $2.09B$1.92B |
| Loan Loss Allowance | Q4 2016vs Q4 2015 | $59.1MM$47.0MM |
| Unbacked Noncurrent Loans | Q4 2016vs Q4 2015 | $58.7MM$50.5MM |
| Real Estate Owned | Q4 2016vs Q4 2015 | $5.3MM$8.0MM |
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.
Penfed And Valor CU Prime Rate CDs
"Our records indicate that you have a Valor Credit Union (Valor) 84-month Prime Rate certificate.
"While PenFed Credit Union does not currently offer a similar product, we will honor the Valor certificate agreement for the duration of the certificate term."
I would like to thank those people who posted useful information re the merger of Valor and PenFed, and refrained from claiming that PenFed would not honor the Valor Prime Rate agreement.
Penfed Cuts 1-Yr, 15-Mo, 5-Yr And 7-Yr CD Rates
1.26% APY 1-year CD (was 1.31%)
1.36% APY 15-mo CD (was 1.41%)
1.46% APY 2-year CD (no change)
1.61% APY 3-year CD (no change)
1.76% APY 4-year CD (no change)
2.07% APY 5-year CD (was 2.17%)
2.12% APY 7-year CD (was 2.22%)
IRA CD APYs are 5 basis points lower. There is no 15-mo IRA CD.
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 Share Savings | |
| 0.05% | $25 | - | IRA Share Account | |
| 0.05% | - | - | 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 w/ direct deposit | ||
| OTHER TIERS: 0.20% → Up to $20k | |||||
PenFed Credit Union CD Rates
PenFed Credit Union IRA Rates
PenFed Credit Union has 44 locations. Click to view all PenFed Credit Union locations.