Last Updated: 10/10/2025
PenFed Federal Credit Union Money Market Account
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Last Updated: 10/10/2025
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Highlights
APY (Annual Percentage Yield)
Minimum Balance to Earn APY
Minimum Opening Deposit
PenFed Federal Credit Union Money Market Account Review
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
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PenFed Federal Credit Union Money Market Account FAQ
Are money market accounts from PenFed Credit Union federally insured?
What are the dividends for PenFed money market rates?
| Rates | Amount |
| APY (Annualized Percentage Yield) | 0.05% - 0.15% |
What are the fees for PenFed Federal Credit Union Money Market Account?
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| Monthly Service Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Paper Statement Fee | Starting at $2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum balance for PenFed money market?
What features and perks does PenFed money market offer?
- 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?
What is the support contact email?
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.
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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.