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Purdue Federal Credit Union


Overview / Commentary
www.purduefed.com
765-497-3328
1551 Win Hentschel Blvd
West Lafayette, IN 47906

Purdue Federal Credit Union is headquartered in West Lafayette and is the 8th largest credit union in the state of Indiana. It is also the 254th largest credit union in the nation. It was established in 1969 and as of June of 2023, it had grown to 275 employees and 101,083 members at 14 locations. Purdue Federal Credit Union's money market rates are 10X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Purdue Federal Credit Union is open to the following: (1) employees, students or alumni of Purdue University and their immediate family; (2) those who live, work, worship, attend school or volunteer in Laporte County, Indiana; (3) students and family of LaPorte County Schools and other select area schools; (4) employees of IU Health, ADECCO, Security Systems of Indiana and other area Select Employer Groups. (Membership requirements are listed on the credit union's online application)
See current membership details

Reviews (3)

Purdue Federal Credit Union

Posted by: |

I have banked with PEFCU for over 18 years. I switched from my local / small bank and I have found not a huge difference between the two. I have always had my problems resolved. The one time that was extremely helpful to me was when I was a victim of a phishing scam. The bank was very helpful and helped me to avoid any fees or damage to my bank account. I would have been liable for more than $200 in fees. Every time I call for help they are quick to respond and very helpful. I have recommended PEFCU to many friends.

1

Great Credit Union

Posted by: |

My experience banking with Purdue Federal Credit Union was extremely positive. I opened my PFCU account to start saving extra funds for my youngest child who was set to go to college in two years. Participating in the Savers and Sense club allowed her to get some important financial guidance before taking off on her own. And the best thing is, after she graduated from high school and left for college, she took her PFCU account with her. The online banking works good for her, and I'm able to have access to her account and keep an eye on her funds. Its great for my peace of mind knowing that she has a banking platform that she's comfortable with. Being able to be a joint account holder with her on this account is great for me being able to deposit funds into her account in case she needs them in a hurry. I recommended PFCU to a couple of my girlfriends who have children either in high school who need to learn basic money management skills or whether they are in college or heading to college.

1

Purdue FEderal is a great organization to bank with

Posted by: |

I have had an account with this credit union for many years. My parents set my account up when I was a small child and I have used it faithfully since (I am now in my mid-20s). I have a checking account, savings account, and credit card all with them. I have had an overall very positive experience. Customer service is always fantastic. I have run into several snags and issues that were mostly out of their control, and they handled them quickly and easily for me. For example, I have had unauthorized charges on my debit card a couple of times. Both times all I had to do to get the issue taken care of was to go in and explain that I didn't recognize the charges. They immediately removed them, re-issued my card, and took care of informing VISA of the issue for me. Another issue I'd run into was an overdraft because of an incorrect charge by a vendor. Upon explaining the situation to them, they removed the fee and gave me a chance to transfer money into the checking account so that I wouldn't overdraft again. Simple, painless, and fast pretty much describes all of my interactions with them. And on top of all of that, they have free coin sorting machines in their branches, which is a great convenience for anyone that accumulates change. but doesn't want to deal with carrying it around. Overall, a great bank to work with. I would highly recommend them to anyone.

1


Health
B+

Data as of Q2 2023

Learn why bank health matters

Health Grade Components

Overall
NCUA #19307
Year Chartered1969
Employees275
Primary Regulator
Profit Margin
Return on Assets - YTD1.02%
Return on Equity - YTD11.19%
Annual Interest Income$39.1MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$1.87B$1.78B
LoansQ2 2023vs Q2 2022$1.39B$1.30B
DepositsQ2 2023vs Q2 2022$1.49B$1.54B
Equity CapitalQ2 2023vs Q2 2022$170.4MM$158.6MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$4.4MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$2.4MM$1.3MM
Real Estate OwnedQ2 2023vs Q2 2022$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Purdue Federal 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.

Purdue Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.07%*-$2kEmergency Savings
OTHER TIERS: 0.10% → $2k+
0.15%$25-Educational IRA Savings
0.10%$5-Basic Savings
0.10%$5-Special Savings
0.10%$5-Health Savings Account Savings
0.05%$1k-HSA Checking - Gold Status
0.05%$1k-HSA Checking - Diamond Status

Purdue Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.59%*$15k*-High - Yield Money Market
OTHER TIERS: 0.10% → Up to $15k
4.13%*$250k*-IRA Money Market
OTHER TIERS: 0.15% → Up to $7.5k | 1.56% → $7.5k - $25k | 2.07% → $25k - $100k | 3.35% → $100k - $250k
4.07%*$250k*-Money Market Account
OTHER TIERS: 0.10% → Up to $7.5k | 1.51% → $7.5k - $25k | 2.02% → $25k - $100k | 3.30% → $100k - $250k

Purdue Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$1k-Sensible Checking - Gold Status
0.05%$1k-Sensible Checking - Diamond Status
0.05%$1k-Merit Checking - Gold Status
0.05%$1k-Merit Checking - Diamond Status

Purdue Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.92%$50-24 Month Savers' CD
5.65%$50-12 Month Savers' CD
5.41%$5k-15 Month CD Special - Diamond Status
5.41%$5k-8 Month CD Special - Diamond Status
5.31%$5k-15 Month CD Special - Gold Status
5.31%$5k-8 Month CD Special - Gold Status
5.20%$5k-15 Month CD Special - Silver Status
5.20%$5k-8 Month CD Special - Silver Status
5.10%$5k-15 Month CD Special - Bronze Status
5.10%$5k-8 Month CD Special - Bronze Status
4.45%$5k-29 Month CD Special - Diamond Status
4.24%$5k-29 Month CD Special - Gold Status
4.03%$5k-29 Month CD Special - Silver Status
3.82%$5k-29 Month CD Special - Bronze Status
3.10%$500-60 Month CD - Diamond Status
2.99%$500-48 Month CD - Diamond Status
2.94%$500-36 Month Health Savings Certificate - Diamond Status
2.89%$500-60 Month CD - Gold Status
2.89%$500-36 Month CD - Diamond Status
2.79%$500-48 Month CD - Gold Status
2.74%$500-36 Month Health Savings Certificate - Gold Status
2.69%$500-60 Month CD - Silver Status
2.69%$500-36 Month CD - Gold Status
2.69%$500-24 Month Health Savings Certificate - Diamond Status
2.63%$500-24 Month CD - Diamond Status
2.63%$500-30 Month CD - Diamond Status
2.58%$500-48 Month CD - Silver Status
2.53%$500-36 Month Health Savings Certificate - Silver Status
2.48%$500-60 Month CD - Bronze Status
2.48%$500-36 Month CD - Silver Status
2.48%$500-24 Month Health Savings Certificate - Gold Status
2.43%$500-24 Month CD - Gold Status
2.43%$500-30 Month CD - Gold Status
2.38%$500-48 Month CD - Bronze Status
2.33%$500-36 Month Health Savings Certificate - Bronze Status
2.28%$500-36 Month CD - Bronze Status
2.28%$500-24 Month Health Savings Certificate - Silver Status
2.22%$500-24 Month CD - Silver Status
2.22%$500-30 Month CD - Silver Status
2.12%$500-12 Month Health Savings Certificate - Diamond Status
2.07%$500-24 Month Health Savings Certificate - Bronze Status
2.07%$500-12 Month CD - Diamond Status
2.07%$500-18 Month CD - Diamond Status
2.02%$500-24 Month CD - Bronze Status
2.02%$500-30 Month CD - Bronze Status
2.02%$500-12 Month Health Savings Certificate - Gold Status
1.97%$500-12 Month CD - Gold Status
1.97%$500-18 Month CD - Gold Status
1.92%$500-9 Month CD - Diamond Status
1.92%$500-12 Month Health Savings Certificate - Silver Status
1.87%$500-12 Month CD - Silver Status
1.87%$500-18 Month CD - Silver Status
1.82%$500-12 Month Health Savings Certificate - Bronze Status
1.82%$500-9 Month CD - Gold Status
1.77%$500-12 Month CD - Bronze Status
1.77%$500-18 Month CD - Bronze Status
1.71%$500-9 Month CD - Silver Status
1.61%$500-9 Month CD - Bronze Status
1.56%$5k-6 Month CD - Diamond Status
1.46%$5k-6 Month CD - Gold Status
1.36%$5k-6 Month CD - Silver Status
1.31%$10k-3 Month CD - Diamond Status
1.26%$5k-6 Month CD - Bronze Status
1.21%$10k-3 Month CD - Gold Status
1.11%$10k-3 Month CD - Silver Status
1.01%$10k-3 Month CD - Bronze Status

Purdue Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.46%$5k-15 Month IRA Special - Diamond Status
5.36%$5k-15 Month IRA Special - Gold Status
5.25%$5k-15 Month IRA Special - Silver Status
5.15%$5k-15 Month IRA Special - Bronze Status
4.50%$5k-29 Month IRA Special - Diamond Status
4.29%$5k-29 Month IRA Special - Gold Status
4.08%$5k-29 Month IRA Special - Silver Status
3.87%$5k-29 Month IRA Special - Bronze Status
3.15%$500-60 Month IRA - Diamond Status
3.05%$500-48 Month IRA - Diamond Status
2.94%$500-60 Month IRA - Gold Status
2.94%$500-36 Month IRA - Diamond Status
2.84%$500-48 Month IRA - Gold Status
2.74%$500-60 Month IRA - Silver Status
2.74%$500-36 Month IRA - Gold Status
2.69%$500-24 Month IRA - Silver Status
2.69%$500-30 Month IRA - Diamond Status
2.63%$500-48 Month IRA - Silver Status
2.53%$500-60 Month IRA - Bronze Status
2.53%$500-36 Month IRA - Silver Status
2.48%$500-24 Month IRA - Gold Status
2.48%$500-30 Month IRA - Gold Status
2.43%$500-48 Month IRA - Bronze Status
2.33%$500-36 Month IRA - Bronze Status
2.28%$500-30 Month IRA - Silver Status
2.28%$500-24 Month IRA - Diamond Status
2.12%$500-12 Month IRA - Diamond Status
2.12%$500-18 Month IRA - Diamond Status
2.07%$500-24 Month IRA - Bronze Status
2.07%$500-30 Month IRA - Bronze Status
2.02%$500-12 Month IRA - Gold Status
2.02%$500-18 Month IRA - Gold Status
1.97%$500-9 Month IRA - Diamond Status
1.92%$500-12 Month IRA - Silver Status
1.92%$500-18 Month IRA - Silver Status
1.87%$500-9 Month IRA - Gold Status
1.82%$500-12 Month IRA - Bronze Status
1.82%$500-18 Month IRA - Bronze Status
1.77%$500-9 Month IRA - Silver Status
1.66%$500-9 Month IRA - Bronze Status
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