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Featured Accounts

PenFed Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
2.27%6+ Year CD7 Year Money Market Certificate
2.27%5-year CD5 Year Money Market Certificate
2.02%4-year CD4 Year Money Market Certificate

Overview / Commentary
800-247-5626
7940 Jones Branch Drive
McLean, 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

Interest Rates Up On Money Market Certificates - 10/24/2017

TERM DIVIDEND RATES APY 6 Month 1.00% 1.00%** 12 Month 1.60% 1.61% 15 Month 1.60% 1.61% 18 Month 1.75% 1.76% 2 Year 1.80% 1.82% 3 Year 1.90% 1.92% 4 Year 2.00% 2.02% 5 Year 2.25% 2.27% 7 Year 2.25% 2.27%

PenFed Increases Rates On All Certificates - 10/18/2017

PenFed Credit Union (PenFed) increased the rates on all of its Money Market Certificates (CDs) today. The new rates aren’t exceptional, but they are competitive.

PenFed’s New Money Market Certificate Rates - 10/2/2017

PenFed’s new CD rates aren’t blog-worthy, but at least they’re moving in the right direction. Hoping for wow-worthy (like in 2013) for later this year. 1.46% APY 1-year (was 1.41%) 1.46% APY 15-mo (was 1.41%) 1.66% APY 2-year (was 1.51%) 1.76% APY 3-year (was 1.61%) 1.87% APY 4-year (was 1.81%) 2.12% APY 5-year (was 2.07%) 2.22% APY 7-year (no change)

View all posts from:

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

The Best

Posted by: Contical | Nov 10, 2017

PenFed Credit Union is the best bank that I have ever used. Each time I have an issue PenFed Credit Union always addresses my issues in a timely manner. I recently had an incident where my paycheck from work was going to be deposited a little later than usual into my checking account. This late deposit was going to cost my checking account to be over drafted. The customer service representative was very gracious and gave my checking account a grace period so I would not incur in overdraft fees. This grace period allowed my bills to get paid even though I was short in my checking account and when my pay check was finally deposited no over draft fees were ever taken from my pay check.

Great credit union with competitive rates

I have had a PenFed MMA savings account for more than 8 years now. Originally I had a checking and savings, but I have let the checking go after finding another credit union with a better rate. But, I like their CDs and savings accounts, so I use PenFed mainly for my savings. I like their online presence. I use the online banking platform to check my balances and move money when needed. I like the accessibility it gives me when I don't have time to go to a branch. Overall, I say they are a great credit union and plan on staying with them a long time.

OK, Not Great, Not Terrible

Posted by: semistatic | Nov 8, 2017

Pros:
* Can be very generous on cards & loans
* Pays better interest on checking than many banks & CUs
* Customer service is usually pretty friendly
* Free credit score & no HP pre-approvals every quarter

Cons:
* Online banking experience is clunky & outdated
* Restrictions on new accounts (ACH limits, remote deposit, etc.) are a bit overzealous
* Hard INQ on EQ to do most anything
* Better interest checking and loans available elsewhere
* Long wait times if you have to call

Gone Way Downhill

Posted by: EricJ | Aug 18, 2017

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

VIEW MORE REVIEWS

Health

Health Grade Components

Overall
NCUA #227
Year Chartered1935
Employees1915
Primary Regulator
Profit Margin
Return on Assets - YTD0.97%
Return on Equity - YTD9.85%
Annual Interest Income$395.4MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$22.81B$20.16B
LoansQ2 2017vs Q2 2016$19.58B$17.76B
DepositsQ2 2017vs Q2 2016$17.67B$15.94B
Equity CapitalQ2 2017vs Q2 2016$2.24B$2.04B
Loan Loss AllowanceQ2 2017vs Q2 2016$68.8MM$50.1MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$77.4MM$50.8MM
Real Estate OwnedQ2 2017vs Q2 2016$5.0MM$6.0MM
  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.

Interest Rates Up On Money Market Certificates

brskun   |  
TERM DIVIDEND RATES APY
6 Month 1.00% 1.00%**
12 Month 1.60% 1.61%
15 Month 1.60% 1.61%
18 Month 1.75% 1.76%
2 Year 1.80% 1.82%
3 Year 1.90% 1.92%
4 Year 2.00% 2.02%
5 Year 2.25% 2.27%
7 Year 2.25% 2.27%

PenFed’s New Money Market Certificate Rates

Ken Tumin   |  
PenFed’s new CD rates aren’t blog-worthy, but at least they’re moving in the right direction. Hoping for wow-worthy (like in 2013) for later this year.

1.46% APY 1-year (was 1.41%)
1.46% APY 15-mo (was 1.41%)
1.66% APY 2-year (was 1.51%)
1.76% APY 3-year (was 1.61%)
1.87% APY 4-year (was 1.81%)
2.12% APY 5-year (was 2.07%)
2.22% APY 7-year (no change)

Small CD Rate Hikes At Penfed

Ken Tumin   |  
The good news is that PenFed increased some of its CD rates at the start of September. The bad news is their rates are still lower than several internet banks. Let’s hope for another December CD special (like in 2013). Below shows how the rates have changed:

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

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
2.27%$1k-5 Year Money Market Certificate
2.27%$1k-7 Year Money Market Certificate
2.02%$1k-4 Year Money Market Certificate
1.92%$1k-3 Year Money Market Certificate
1.82%$1k-2 Year Money Market Certificate
1.77%$1k-18 Month Money Market Certificate
1.61%$1k-1 Year Money Market Certificate
1.61%$1k-15 Month Money Market Certificate
1.00%$1k-6 Month Money Market Certificate

PenFed Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.22%$1k-5 Year IRA
2.22%$1k-7 Year IRA
2.22%$1k-5 Year CESA
2.22%$1k-7 Year CESA
1.97%$1k-4 Year IRA
1.97%$1k-4 Year CESA
1.87%$1k-3 Year IRA
1.87%$1k-3 Year CESA
1.76%$1k-2 Year IRA
1.76%$1k-2 Year CESA
1.56%$1k-1 Year IRA
1.56%$1k-1 Year CESA
Locations

Availability