Accessibility for military
PenFed has branch locations in the following locations:
- Hagatna, Guam
- Honolulu, Hawaii
- Kadena, Japan
- Puerto Rico
Military members might find this convenient if they find themselves deployed to one of these locations.
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PenFed caters to the military community, but it’s not necessarily a requirement to apply. You can earn up to 0.50% on it’s checking account with a balance from $20,000 to $50,000. Its savings accounts are free, but fall short with a low 0.05% if you have a balance less than $250,000.
PenFed is a little vague about its exact criteria for membership, but you’re a shoo-in if you identify with one of the following:
If you don’t meet any of these requirements, contact PenFed to see if there’s another way you could qualify.
PenFed puts its focus on savings products like free savings accounts, money markets and CDs. But it also offers a checking account, personal loans, mortgages and credit card products.
PenFed doesn’t offer banking products to small or commercial businesses, so entrepreneurs should scout accounts elsewhere.
PenFed has branch locations in the following locations:
Military members might find this convenient if they find themselves deployed to one of these locations.
Typical of a credit union, PenFed is designed to be a one-stop financial hub for users rather than a one-off provider. But, before signing up, keep in mind these drawbacks:
Got questions? Here’s how to get in touch with customer service:
Folks looking for a full-service financial provider might enjoy PenFed’s breadth of options, from basic savings accounts to credit cards. But if you’re looking for lower initial deposits or higher APYs on basic savings, see what competitors have to offer.
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