Like many of its not-for-profit competitors, Pentagon Federal Credit Union, or PenFed, has a modest product selection. But it makes up for that with good interest rates for checking and money market certificates. PenFed offers a handy mobile app, plus it’s relatively easy to join for a credit union. Its $30 nonsufficient funds fee, however, isn’t as consumer-friendly, especially since there’s no cap on how many times PenFed can charge it in one day.
Ratings methodology | Reviewed Feb. 16, 2018
Access America, PenFed’s lone checking option, has tiered interest rates that are better than the national average, though it’s possible to get higher rates elsewhere, particularly at top online banks. With daily balances under $20,000, you can earn an annual percentage yield of 0.20% ; deposits of $20,000 to $50,000 earn 0.50%.