PenFed Continues Tradition of Offering Exclusive Products Created With Military Members in Mind

Posted August 02 2013
by PenFed Team
PenFed Credit Union News Release

ALEXANDRIA, Va., Aug. 2, 2013—On July 15, 2013, Pentagon Federal Credit Union (PenFed) was named among the top five financial institutions for the military by

Not only is serving the military in the credit union’s blood and heritage, but for years PenFed has continued to work to provide products tailored for PenFed’s military members and their families. One example of this effort is the PenFed Defender American Express® Card. 

Debuting in October 2012, and specially designed with military members in mind, the Defender American Express® Card is like no other credit card available in the industry.

“Unlike many of our competitor’s products, our Defender American Express® Card does not categorize rewards by what the consumer has purchased,” said Kevyn Myers, executive vice president of card services, PenFed. “We will give 1.5% cash back for any purchase a Cardmember makes.”

The Defender American Express® Card offers a 1.5% cash back return on all purchases, and includes an introductory 6.99% purchase APR for 60 months. After that the APR will vary with the market based on the Prime Rate*.  Additionally, the Card carries absolutely no fees–including no annual fee, no foreign transaction fee, no balance transfer fee, no cash advance fee, no late fee, and no over credit limit fee.


PenFed members and those who join PenFed who are currently active U.S. military—including reservists, the National Guard, and those retired or honorably discharged veterans of the U.S. military, are eligible to apply for this card. PenFed has also extended the product to eligible members of certain affinity groups that belong to the credit union’s Membership Charter.

“This card is truly one of the financial industries’ best kept secrets, as it offers so many benefits to our nation’s defenders,” stated Myers. “We feel that everyone serving in military should take advantage of the great benefits that the PenFed Defender American Express® Card has to offer.”

Learn more:

If you would like to speak to a PenFed team member about the many benefits the PenFed Defender American Express® Card has to offer; interviews can be scheduled on Monday, August 12 through Friday, August 16 from 9:30 a.m. to 4:30 p.m. (Eastern).

About PenFed

Established in 1935, PenFed is one of the largest credit unions in the country serving over 1.2 million members worldwide; with more than $16 billion in assets. Its longstanding mission has been to provide superior financial services, responsive to members’ needs in a cost effective manner. PenFed offers market leading mortgages, automobile loans, credit cards, checking, and a wide range of other financial services with its members’ interests always in mind. Serving a diverse population, there are hundreds of ways to become a PenFed member; including numerous association members and employee groups. PenFed is federally insured by the National Credit Union Administration, does business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act, and is an equal housing lender. To learn more about PenFed and become a member, call 800.247.5626 or visit

*Disclosures: Rates are current as of August 2013, unless otherwise noted, and are subject to change. This Credit Card program is issued and administered by PenFed. American Express® is a federally registered service mark of American Express and is used by PenFed pursuant to a license. Terms and conditions apply. The APR for cash advances is 9.99% and will vary with the market based on the Prime Rate. 4.99%APR promotional balance transfer rate for the life of the balance with no fee on transfers made until September 30, 2013. After that, the APR for new balance transfers will be 9.99% and will vary with the market based on the Prime Rate. This transaction is subject to credit approval.

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