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No Savings Accounts Available from PenFed Credit Union
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Been very happy with them especially with ACH transfers between my other non credit union or investment accounts.. My only negative is I wish they had offices out of VA mainly as I live in NC. I used them as my "savings account" and have other local banking for my business and personal needs.
PenFed does a hard inquiry on your credit report just to set up a savings account.
I wanted to start stashing part of my retirement check in a savings account. Went online and signed up with PenFed and put some money in the savings account. Later I found that they had done a hard pull on my credit report. To be fair they do advise you of that in the pages of legal boilerplate you have to wade through.
I pulled all but my $5 minimum out and put it in another credit union. I'll leave the $5 in PenFed just so they have to maintain my account.…show more
I have had this Credit Union for several years now. They offer great rewards for those who qualify. If you have an American Express Black Card they have amazing deals on travel packages etc. The security of my account is top notch, at times it can be almost to much. I have to go through a lot to access my account and if I don't remember the pin, I have to go through a lot to gain access to that also. The customer service is excellent. Every time I have had an issue and had to call in they have always been very helpful. If you are looking for top notch security with great customer service, this is definitely the way to go.…show more
I opened a PenFed savings account after I was approved for their Platinum Cash Rewards Visa. I already had a checking account with them so now all of my stuff is pretty much in one place. This is my only credit card other than the debit card. The process was simple. The only bad part is that the credit union is out of state. I can't go into the branch to make a deposit. My husband is a member so I joined too but it is a bit inconvenient. We have to transfer funds from our local account to the new savings account.…show more
I recently opened up a savings account with PenFed (after going through a hoop or two via donations). The account is fairly basic and the APY is pretty standard when compared to other branches, but there are tons of neat features that come with the account. For example, there's a savings calculator and tracker that updates every time you transfer money into your saving account, so you'll always know how close you are to a financial goal. There are also various materials that you can read to help you better understand their savings accounts and other features, which is pretty nice as well.…show more
I have been a member of Pentagon Federal Credit Union for many years, going back to my time as a service member in the United States Army. Pentagon has always been a true joy to work with. The customer service you receive from them is wonderful and I assume that their problem resolution is wonderful as well. Of course, I cannot say that for certain because I have never had a problem with Pentagon! Their rates on loans, especially vehicle loans are among the lowest that you can find anywhere and their website is incredibly user friendly, so applying for a loan with them couldn't be easier. I can not say enough good things about these guys!…show more
My husband and I needed to save our money we made from selling the house into a reliable, safe, and secure bank. We had gotten quite discouraged by the banks out there and decided to try a credit union instead. Since we were living in the Washington, DC area at the time, we tried Pentagon Federal CU. First off, extremely easy to make an account online. I have never stepped foot inside of their credit union, but that is fine by them as their online presence is fabulous! Second, when we had to deposit some money, and were no where near a Pentagon Federal Credit Union, they offer a great network of other credit unions. We were able to deposit the check and it was switched into our account that day! Third, while rates do change all the time, these guys are a leader in great rates for savers. And lastly, we had the ability because of their very fine credit union, to transfer money out without a cost to other banks when needed. Overall, this bank is one of the best based on customer service, available accounts, and online banking. They deserve every one of those stars.…show more
I can get this out of the way right now: the worst thing about PenFED is the application process. It’s very confusing at first to find if you are eligible for enrollment or not in any of their services. Here is the story. I was looking into home mortgages a while back, and an old family friend recommended PenFED. However, looking online you would think that they were only for military personnel/families, right? Wrong. Any state/federal employee is also eligible for PenFED’s services. Well, they did not have the best rate at the time for the home loan (local credit union around me beat them out), but I noticed that they did have one of the best interest rates still out there when it came to savings. So my wife (who is a teacher) got us an account and we started our first joint savings account with these fine folks.…show more
My father is an employee of Pentagon Federal Credit Union and has been my entire life. I have had a savings account at PFCU since I was young and now that I'm 25 it has accrued a good amount of interest and is still there for me whenever I need it. Now that I'm on my own, I'm going to open a checking account with PFCU as well. Having a savings account through them has helped me learn how to save and have my extras for my hard work. The employees are also incredibly nice and helpful; every question I've very had has been answered and more. I would recommend PFCU to anyone.…show more
The eligibility requirements to join PenFed Credit Union are as follows: those who serve in the US Military or Uniformed Services, employees of the US government, or those who are related to someone who meet the above criteria.
If you don't meet any of those requirements, you can also join the National Military Family Organization or the Voices for America's Troops for $17 each.
In the event that in a given week, for this product, there were multiple applicable rates in our database based on different criteria, the above graph reflects the lowest interest rate recorded. Before submitting an application, always verify with the issuing institution (i.e. bank, credit union, other lender) the rates, fees, and all terms and conditions accompanying the application.