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Most Popular PenFed Credit Union Accounts

Account TypeAPYAccount NameMinMax
CD2.07%12 Month Money Market Certificate$1k-Details »
CD2.22%18 Month Money Market Certificate$1k-Details »
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Overview / Commentary
800-247-5626
7940 Jones Branch Dr
Tysons Corner, 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

First Of The Month CD Rate Increases At PenFed - 3/1/2018

PenFed Credit Union has raised the rates on all of its Money Market Certificates, with increases between 20 and 35 bps. Min deposit is $1k, with no stated balance cap.

Certificates Rates Rise At Penfed - 3/1/2018

See the new rates for March https://www.penfed.org/accounts/certificates-overview

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

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 (133)

PenFed

I have banked with penfed for a number of years and am highly pleased with their service. Their customer support team is always very helpful and fast to resolve any problems. About a year ago, I had my credit information stolen from a restaurant. I checked my account online as I usually do every day and noted that a very large transaction has occurred that I definitely did not make. I immediately called their customer support and had the card closed. Within 24 hours, the transaction was credit back and I had a new card in the mail and headed to me. I was very pleased with the speed at which they handled my situation. I would highly recommend penfed to anyone searching for a new bank or just want another account.

Access America Checking Account is perfect for me!

Posted by: JewelHulk | Apr 24, 2018

I have an Access America Checking Account with PenFed Credit Union. I love this account because it pays a fairly decent interest rate. It also has no monthly fees as long as you have a direct deposit. The customer service is great, although I have had to wait longer on Fridays because they seem to be particularly busy on this day. Opening the account was easy because I was able to do everything online. I did have to go to the branch to show my driver's license, but otherwise it was a simple process. The opening deposit amount was also very low compared with other checking accounts that pay interest. Overall, I would definitely recommend PenFed Credit Union to anyone interested in a traditional checking account that wants to earn a little bit of interest on their money too.

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.

Severe Restriction Transferring Funds From Penfed

Posted by: Markzz | Mar 25, 2018

Very conspicuously, PenFed's website announces that nearly $1 million can be transferred in but nowhere did I see that a mere $5k is the measly amount allowed to be transferred out every 72 hours.

Only after purchasing some CDs was this discovered. Until there is a change is this one-sided policy, I will not purchase a CD from PenFed again.

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Health

Health Grade Components

Overall
NCUA #227
Year Chartered1935
Employees2064
Primary Regulator
Profit Margin
Return on Assets - YTD0.78%
Return on Equity - YTD7.79%
Annual Interest Income$830.0MM
Assets and Liabilities
AssetsQ4 2017vs Q4 2016$22.86B$21.30B
LoansQ4 2017vs Q4 2016$19.51B$18.52B
DepositsQ4 2017vs Q4 2016$17.81B$16.66B
Equity CapitalQ4 2017vs Q4 2016$2.29B$2.09B
Loan Loss AllowanceQ4 2017vs Q4 2016$98.4MM$59.1MM
Unbacked Noncurrent LoansQ4 2017vs Q4 2016$111.7MM$58.7MM
Real Estate OwnedQ4 2017vs Q4 2016$3.3MM$5.3MM
  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.

Certificates Rates Rise At Penfed

marcal   |  
See the new rates for March
https://www.penfed.org/accounts/certificates-overview

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%

https://www.penfed.org/accounts/money-market-certificate/?s_cid=23435-_-PG5-_-CDA-_-em-_-VTY136-_-txt-_-GT2-_-01312018-_-12312018

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 Savings
0.05%$25-IRA Savings Account
0.05%$10k-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
0.50%*$20k*$50kAccess America Checking
OTHER TIERS: 0.20% Up to $20k

PenFed Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.73%$1k-7 Year Money Market Certificate
2.68%$1k-5 Year Money Market Certificate
2.43%$1k-4 Year Money Market Certificate
2.38%$1k-3 Year Money Market Certificate
2.33%$1k-2 Year Money Market Certificate
2.22%$1k-18 Month Money Market Certificate
2.12%$1k-15 Month Money Market Certificate
2.07%$1k-12 Month Money Market Certificate
1.65%$1k-6 Month Money Market Certificate

PenFed Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.68%$1k-7 Year IRA
2.68%$1k-7 Year CESA
2.63%$1k-5 Year IRA
2.63%$1k-5 Year CESA
2.38%$1k-4 Year IRA
2.38%$1k-4 Year CESA
2.32%$1k-3 Year IRA
2.32%$1k-3 Year CESA
2.27%$1k-2 Year IRA
2.27%$1k-2 Year CESA
2.02%$1k-1 Year IRA
2.02%$1k-1 Year CESA
Locations

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Washington Area

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