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  PenFed Federal Credit Union Money Market Account

PenFed Federal Credit Union Money Market Account

in Money Market Accounts from PenFed Credit Union

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PenFed Federal Credit Union Money Market Account

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in Money Market Accounts from PenFed Credit Union

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Highlights
Highlights
APY (Annual Percentage Yield) 0.05% - 0.15%
APY Minimum Balance $1
Minimum Initial Deposit $25

PenFed Federal Credit Union Money Market Account Review

PenFed Federal Credit Union Money Market Account is offered by PenFed Credit Union, a credit union founded in 1935 and based in Alexandria, VA. PenFed Federal Credit Union Money Market Account is available in 50 states (and Washington, DC).

PenFed Federal Credit Union Money Market Account FAQ

Are money market accounts from PenFed Credit Union federally insured?

Yes, your PenFed Credit Union money market accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. 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 are the PenFed Federal Credit Union Money Market Account rates?

PenFed Federal Credit Union Money Market Account offers an APY starting at 0.05% and ranging up to 0.15% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $1.

PenFed Federal Credit Union Money Market Account Rates and Terms
Rates Amount
APY (Annualized Percentage Yield) 0.05% - 0.15%

What are the PenFed Federal Credit Union Money Market Account fees?

PenFed Federal Credit Union Money Market Account does not charge a monthly maintenance fee.

PenFed Credit Union will charge you a $10 fee if you exceed your maximum number of monthly transactions.

Federal regulations limit the number of transactions you can make from your money market account to six per month.

PenFed Federal Credit Union Money Market Account Fees
Fees Amount
Monthly Fee $0
Paper Statement Fee N/A
Excess Transaction Fee $10

What is the minimum balance for PenFed Federal Credit Union Money Market Account?

Minimum initial deposit of $25. You must make an initial deposit of at least $25 to open this account.

Interest rate minimum balance of $1. You must keep the account balance above $1 to earn interest.

What features and perks does PenFed Federal Credit Union Money Market Account offer?

This account does not seem to offer any of the features and perks we track.

How to open an account with PenFed Credit Union

  • Visit the PenFed Credit Union website.
  • Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
  • Check the information is accurate and submit your application.
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Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

APY Minimum Balance $1
Minimum Balance to Avoid Monthly Fee $0
Minimum Initial Deposit $25
Monthly Fee $0
APY (Annual Percentage Yield) 0.05% - 0.15%
Dividend Compounding Frequency Monthly

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