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Last Updated: 10/10/2025

PenFed Federal Credit Union Money Market Account

from PenFed Credit Union

Last Updated: 10/10/2025

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Highlights

APY (Annual Percentage Yield)

0.05% - 0.15%(Verified 06/21/2024)

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Minimum Balance to Earn APY

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Minimum Opening Deposit

Starting at $25

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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 Tysons, VA. PenFed money market are available in 50 states and Washington, DC.

Key Takeaways

Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.15%, which is much higher than the national average for a money market account.
No APY minimum balance. There is no minimum amount you have to deposit to start earning dividends with this money market account.
No monthly maintenance fees. This account does not charge any monthly account fees.
Small minimum initial deposit. You only need $25 to open an account.

Pros & Cons of PenFed Federal Credit Union Money Market Account

Pros

Cons

Available in 50 states and Washington, DC.
Generous dividends.
Insured by NCUA.
Access to physical branches.
Access to a nationwide network of ATMs.
Deposit checks remotely.

Does not provide a debit card.
Not FDIC-insured.

PenFed Federal Credit Union Money Market Account FAQ

Are money market accounts from PenFed Credit Union federally insured?

Yes, your money market accounts 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 are the dividends for PenFed money market rates?

PenFed money market offers an APY starting at 0.05% and ranging up to 0.15% (APY stands for annual percentage yield, rates may change).

PenFed money market Rates and Terms

Rates

Amount

APY (Annualized Percentage Yield)

0.05% - 0.15%

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

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

PenFed Federal Credit Union Money Market Account Fees

Description

Monthly Service Fee

Paper Statement Fee

Starting at $2

What is the minimum balance for PenFed money market?

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

What features and perks does PenFed money market offer?

This account includes the following features:

Check Writing - PenFed money market includes check writing privileges. This is convenient method to pay bills and transfer money from your account.
Fraud monitoring - PenFed Credit Union monitors transactions for potentially fraudulent activity.
Mobile Banking Services - PenFed money market allows you to manage your money through online banking and a dedicated mobile app. This includes depositing checks in your account with your smartphone.
Nationwide ATM network - PenFed money market allows you to access your money from an ATM, a convenient feature only a few offer.

What is the customer service phone number?

The customer service number for this account is (800) 247-5626.

What is the support contact email?

The support contact email for this business credit card is info@hq.penfed.org.

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.

PenFed Federal Credit Union Money Market Account Disclosure: APY = Annual Percentage Yield. APY is accurate as of June 14, 2021 and is subject to change at any time. Fees may reduce earnings. There is no limit to the number of Pentagon Federal or foreign ATM withdrawals you make with our Money Market Savings account. However, government regulations restrict other types of withdrawals from your Money Market Savings account up to six times per monthly dividend cycle. Checks are counted by the date they are paid from your account (as shown on your statement), not by the date you write them. Effective April 24, 2020, the Federal Reserve Board announced an interim final rule to amend this regulation and allow consumers to make unlimited withdrawals from savings accounts. In accordance with this interim final rule, we have temporarily suspended restrictions on the number and types of withdrawals processed from your Money Market Savings accounts that you can make per monthly dividend cycle.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message from PenFed money market

Get a savings account that gives back to you. Membership not only establishes you as a part-owner of PenFed, but also gives you a chance to earn more with our money market savings account.

Get higher dividends for higher balances ranging from $10K to $100K or more. Account balances from $10K to $99,999 can earn dividends of up to 0.10% APY. Earn dividends of 0.15% APY on all account balances more than $100K.

Contact

Headquarters

7940 Jones Branch Dr

Tysons, VA 22102

(800) 247-5626

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Email Support

Hours of Operation

Sunday

Closed

Monday

8:00AM - 4:00PM

Tuesday

8:00AM - 4:00PM

Wednesday

8:00AM - 4:00PM

Thursday

8:00AM - 4:00PM

Friday

8:00AM - 4:00PM

Saturday

Closed

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SuperMoney Net Recommendation Score

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