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Lock in your savings with our great rates!


Rates as high as % APY*


Start with as little as $1,000

Not a problem, anyone can join. Apply now and we'll create your membership during this application.

*Annual Percentage Yield

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Find the right term that fits your goal!


6 Month %**
12 Month %
15 Month %
18 Month %
2 Year %
3 Year %
4 Year %
5 Year %
7 Year %

*Annual Percentage Yield

$ minimum amount to open. A penalty will be imposed for early withdrawal. This will reduce earnings on the account. Please see 'Disclosures' below for important account information.

Certificates that let you save and earn more.

Guaranteed Returns

Always know what to expect from your hard-earned savings by locking in a great rate.

Safety and Security

Rest easy knowing your money is working for you, all while being federally insured by NCUA.


Change your maturity option at any time prior to the end of the term.


What’s the difference between a Certificate and a Certificate of Deposit (CD)?


Both types of accounts work the same way providing a fixed return when funds are invested for a specified amount of time. The difference is that credit unions call the account a Certificate and banks call the account a Certificate of Deposit (CD).

Money Market Certificate Calculator


Not a problem, anyone can join. Apply now and we'll create your membership during this application.

Rates Effective:



A Money Market Certificate is an investment instrument that provides a fixed rate for a specific period of time. The funds cannot be withdrawn during the certificate term without paying a penalty.  Money Market Certificates are federally insured by the NCUA to at least $250,000.

A certificate must be opened with a minimum balance of $1,000.

6, 12, 15, 18, 24, 36, 48, 60 or 84 months.

You can choose your maturity option when you open your Money Market Certificate and change it at any time prior to maturity.

Your options include:

  • Transfer to another PenFed account
  • Rollover into a new certificate
  • Mailed checks
  • Transfer via ACH

6-month/182-day certificates earn dividends on a simple interest basis. This means that dividends are computed only on the principal amount - not on the combined principal and dividend balance. If the dividends are left with the principal balance, the dividends are paid when the certificate matures. The monthly dividends will not post to the member's account until the certificate reaches maturity.

Dividends for the 12-, 18-, 15-, 24-, 36-, 48-, 60-, and 84-month certificates (as well as the 5-Year Ladder) are posted monthly on the primary member’s dividend cycle date.

For certificates opened/rolled-over after May 2, 2015, the following penalties apply for certificate redemption prior the maturity.

6-month/182-day certificates:

  • Loss of the most recent 90 days of dividends earned.

12-, 15-, 18-, 24-, 36-, 48-, 60- and 84-month certificates:

  • Within 365 days from the open date of the certificate, the penalty will be the last 365 days of dividends earned.
  • After 365 days from the open date of the certificate have elapsed, the penalty will be 30% of gross amount of dividends that would have been earned if the certificate had reached maturity.

As an 85 year old Financial Institution, we’ve stood by our members through thick and thin. We’re not just a credit union. We’re your partner. Becoming a PenFed member means never facing a financial decision alone.


Money Market Certificates

Annual Percentage Yield (APY) is accurate as of June 1, 2023 and is subject to change at any time.

We will establish your certificate on the day we receive your application and funding. Once purchased, the rate is locked in for the term of your certificate.

**6 Month certificates earn dividends on simple interest basis. All other certificate dividends are compounded daily.

You choose how your dividends are withdrawn: monthly OR at maturity.

3 payment options:

  1. Add dividends to certificate.
  2. Transfer dividends to Regular Share, checking, or MMSA (Money Market Savings Account).
  3. Have dividend sent to you in check form.

Early Redemption Penalties

Penalties are imposed for early withdrawal of Money Market Certificates. This will reduce earnings on the account. You must provide your request in writing.

Please refer to the Money Market Certificate Application for further details. For all certificates funded by ACH, funds cannot be withdrawn within the first 60 days of the account opening.