at PenFed Credit Union,

Federally insured by the NCUA

Pros

Checking deposits of $20,000 to $50,000 earn 0.50% APY, and balances below that amount earn 0.20%.
Members have access to 68,000 free ATMs.

Cons

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

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Overall

3.5

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, 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

Checking

4.5

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%.

Regular Savings Account
APY
0.05%
Min. balance for APY
$5

at PenFed Credit Union,

Federally insured by the NCUA

Money Market Certificate
APY
3.30%
Min. balance for APY
$1,000
Length of term
5 years

at PenFed Credit Union,

Federally insured by the NCUA

Access America Checking
APY
0.20%
Monthly fee
$10
Balance to waive monthly fee
$500

at PenFed Credit Union,

Federally insured by the NCUA

How does PenFed Credit Union compare?

PenFed Credit Union

Regular Savings Account

cheatgame.info Rating

at PenFed Credit Union,

Federally insured by the NCUA

APY

0.05%

Monthly Fees

$0

Bonus features

No Monthly Fee

Credit Union

Mobile-friendly

Goldman Sachs Bank USA

Online Savings

cheatgame.info Rating

at Goldman Sachs Bank USA,

Member, FDIC

APY

2.05%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

American Express National Bank

High Yield Savings Account

cheatgame.info Rating

at American Express National Bank,

Member, FDIC

APY

2.00%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

Not for you? Read more bank reviews
cheatgame.info reviews are the result of independent research by our editorial team while accountholder reviews are contributions from independent users not affiliated with cheatgame.info. Banks, issuers and credit card companies are not responsible for any content posted on the cheatgame.info site, nor do they endorse or guarantee any posted comments or reviews.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Too many errors
When you call about an error on your statement their main concern is trying to sell you something, and too many restrictions on any savings.
Overall
Customer service
Poor
Website / app
Fair
Rates
Poor
Fees
High
Horrible customer service
I've been with pen fed for over a year I can not believe how badly I've been treated by them a treat me like a criminal csr laugh if you are rejected for a loan and they do not Approve anyone with out perfect credit THE WORST BANK EVER
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