at PenFed Credit Union,

Federally insured by the NCUA


Checking account earns interest.
Members have access to 68,000 free ATMs.
2.00% APY on its online savings account.


0.05% APY on its basic savings account.
$1,000 minimum on share certificates is high.
Doesn't participate in shared branching.

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Pentagon Federal Credit Union, or PenFed, offers a modest product selection for military-affiliated members and others. But it makes up for that with good interest rates for checking, online savings 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 Dec. 19, 2018



Access America, PenFed’s lone checking option, has tiered interest rates that are better than the national average, though you can find 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%. Its network of ATMs is larger than that of many financial institutions.

Regular Savings Account
Min. balance for APY

at PenFed Credit Union,

Federally insured by the NCUA

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