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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
APY (Annual Percentage Yield) 0.05% - 0.15%
Minimum Balance to Earn APY $0
Minimum Opening Deposit Starting at $25

PenFed Federal Credit Union Money Market Account Review

PenFed Federal Credit Union Money Market Account is offered by PenFed Credit Union, founded in 1935 and based in Tysons, VA. PenFed Federal Credit Union Money Market Account is available in 51 states across the USA.

Key Takeaways
  • Very high 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 interest with this money market account.
  • 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 all 50 states.
  • High-interest yield.
  • Does not offer mobile check deposits.
  • No signup bonus.
  • 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?

No, your PenFed Credit Union money market accounts are not insured by a federal insurance agency. This means that if PenFed Credit Union were to fall into financial difficulties, your deposits are not covered by a government backed insurance fund like the FDIC or NCUSIF.

What are the interest rates 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
Fees Amount
Monthly Fee $0
Paper Statement Fee $2
Excess Transaction Fee $0

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:

What is the customer service phone number?

The customer service number for this business card 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 Credit Union

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.

Availability

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

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $0
Minimum Balance to Earn APY $0
Minimum Opening Deposit Starting at $25
Monthly Fee $0
Paper Statement Fee $2
Account Features
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Nationwide ATM Network
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • Insured by NCUA
  • Branch Access
  • Check Writing
APY (Annual Percentage Yield) 0.05% - 0.15%

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