at PenFed Credit Union,

Federally insured by the NCUA

Pros

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

Cons

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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Overall

4.0

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, 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

Checking

4.5

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
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

2.25%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

Citizens Access

Online Savings Account

cheatgame.info Rating

at Citizens Access,

Member, FDIC

APY

2.35%

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
Horrible drive through times and service!
Average wait time in a line of 2 cars is 30 minutes. Unacceptable! This is the routine experience here. Staff not well trained. Navy Federal here I come. I’ve had it! Also Only ATM works only occasionally.
Overall
Customer service
Poor
Website / app
Poor
Rates
Fair
Fees
Fair
Completely Out Of Touch
So, after 18+ years as a member (actually customer) they decided to shut down my ATM card without telling me. With an empty wallet, I called them 4-5 times to find out what is wrong. Each time they assured me it was fixed until my last attempt where the ATM announced my card was cancelled. Ops Dpt Manager told me they upgraded the system and I could no longer have an ATM card; only a debit card. After ID fraud, I do not want a debit card but, that's too bad for me. I spent >1.5 hours on the phone and the time and gasoline needed to go to the ATMs after being assured my card was fixed. I had no idea they were actually playing 'stump the chump' with me; they won! Time for me to find a new credit union after 18+ years. Thanks so much!!!
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