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Last Updated: 04/18/2025

Penn Federal Credit Union Share Term Certificates

in CD Accounts from Penn Federal Credit Union

Last Updated: 04/18/2025

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Highlights

APY (Annual Percentage Yield)

3.00% - 4.00%(Verified 06/21/2024)

Minimum Opening Deposit

$10,000

Certificate Term

  • 12 months
  • 18 months
  • 2 years
  • 3 years
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Penn Federal Credit Union Share Term Certificates Review

Penn Federal Credit Union Share Term Certificates are offered by Penn Federal Credit Union, a credit union founded in 1990 and based in Philadelphia, PA. Penn Federal Credit Union Share Term Certificates are available in 50 states and Washington, DC.

Key Takeaways

  • Only one share certificate type available. Penn Federal Credit Union Share Term Certificates only offers traditional share certificate accounts.
  • Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 4.00%, which is much higher than the national average for a certificate account.
  • High minimum deposit. You must deposit a minimum of $10,000.00, which is high compared to most certificate accounts.
  • Wide selection of certificate terms. Penn Federal Credit Union Share Term Certificates allows you to create a certificate ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.

Pros & Cons of Penn Federal Credit Union Share Term Certificates

Penn Federal Credit Union Share Term Certificates FAQ

Are share certificates from Penn Federal Credit Union federally insured?

Yes, your share certificates are insured up to $250,000 per share owner for each account ownership category. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.

What is the difference between CDs and Share Certificates?

Certificates of Deposit (CDs) and Share Certificates are both deposit accounts where your money can grow at a fixed rate for a predetermined period of time. Both are low-risk and federally insured products designed to give you a better rate on your deposits than typical savings accounts. The main difference between them is that CDs are offered by for-profit banks, whereas Share Certificates are offered by member-owned, not-for-profit credit unions.

What types of share certificates does Penn Federal Credit Union offer?

Penn Federal Credit Union Share Term Certificates provides the following types of share certificates.
  • Traditional share certificates. These share certificates pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the share certificate for another term.

What rates does Penn Federal Credit Union offer on its share certificates?

Penn Federal Credit Union Share Term Certificates offers an APY starting at 3.00% and ranging up to 4.00%. APY stands for annual percentage yield and shows the interest rate paid by the share certificate after taking into account compounding. This is higher than the typical interest rate for online-only checking accounts, which is around 1% APY.

What terms does Penn Federal Credit Union Share Term Certificates offer?

Penn Federal Credit Union offers share certificate terms of the following lengths:

What is the minimum deposit to open a share certificate account with Penn Federal Credit Union?

Penn Federal Credit Union Share Term Certificates require a minimum deposit of $10,000.00 to open an account.

What is the grace period for Penn Federal Credit Union Share Term Certificates?

Penn Federal Credit Union Share Term Certificates does not specify what their grace period is. A grace period is a period of time during which you can withdraw the money in your share certificate without paying an early withdrawal penalty. A grace period starts the day after a share certificate’s maturity date, or the final day a share certificate is opened. Standard share certificates renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new share certificate rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does Penn Federal Credit Union charge?

Financial institutions don't typically charge many fees on share certificates. However, most charge a fee if you choose to withdraw your money before the term ends.
Penn Federal Credit Union charges an early withdrawal fee.
Penn Federal Credit Union does charge any of the fees we track.

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Contact

Headquarters

3131 Walnut St
Philadelphia, PA 19104
(267) 969-7011
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Hours of Operation

Sunday
Closed
Monday
8:30AM - 3:30PM
Tuesday
8:30AM - 3:30PM
Wednesday
8:30AM - 3:30PM
Thursday
8:30AM - 3:30PM
Friday
8:30AM - 3:30PM
Saturday
Closed

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