NMA Federal Credit Union

In today’s ever-changing economy, our Board of Directors evaluated strategic possibilities to assure that you, our member, will continue to receive the full range of products and services you deserve. After considering alternatives, we determined that a merger with PenFed is in the best interest of our members. NMAFCU and PenFed are in very good financial condition.

Yes, all NMAFCU branch offices will remain open with the same employees you know so well.

All NMAFCU accounts will be mapped to equivalent PenFed accounts.

For dual members, all NMAFCU accounts will transfer to the members’ existing PenFed profiles as separate accounts. If desired, members can ask that the newly transferred accounts be combined with like PenFed accounts that they previously had with PenFed, or they can keep the transferred accounts separate.

Yes, 60 days of account history for savings and checking accounts will convert. Account statements prior to the account conversion date will be available by calling PenFed, but will no longer be available online.

A new PenFed Debit Card will be sent to replace your NMAFCU debit card. Your NMAFCU debit card will continue to work until the account conversion is completed in early February 2022. Additional information on when to begin using the card, activation and PIN selection will be included with the new PenFed Debit Card. PenFed cannot update any reoccurring authorizations to the new PenFed card number. Those merchants should be provided with the new PenFed Debit Card number in order to continue any reoccurring authorizations after February 1^st, 2022.

NMAFCU members may continue to use their NMAFCU checks, for up to 6 months after the official merger date (February 1^st, 2022). Each checking accountholder that ordered checks in the last year will automatically receive one free order of checks. If you do not receive an order of checks by the first week of February 2022, please contact PenFed to have a complementary order sent to you. We recommend that members begin using PenFed checks after the account conversion date of February 1^st, 2022, but in case the PenFed checks haven’t arrived or there are outstanding NMAFCU checks, they will continue to be honored for 6 months after the account conversion date.

The only method of overdraft protection available to PenFed members is via our Overdraft Line of Credit (OLOC) account. When needed, the OLOC advances the exact amount needed to the checking account to cover an overdraft. There are no per-advance fees; the member only pays the amount of finance charge that accrues between the date of the advance and the date it is paid*.

If you already have an EZ Access Line of Credit with NMAFCU, this loan will automatically move to PenFed at the same terms and conditions and will be linked to your new PenFed Access America Checking account for overdraft protection.

*Actual amount of credit line will be determined in accordance with individual’s credit qualifications.

No. NMAFCU members' direct deposits, ACH, automated credit and debit entries, transfers, all electronic items including retirement and Social Security will be automatically be redirected to PenFed during the merger process. PenFed will automatically notify your direct deposit/ACH originator of the new PenFed account numbers. In some cases, the direct deposit/ACH originator may contact you to confirm the new account information. If the direct deposit/ACH originator does not update the new account numbers, PenFed will notify you in a 60-90 days to seek your assistance in correcting the account number directly.

If a new direct deposit or preauthorized debit is setup after February 1^st, 2022, the new PenFed account number and routing number should be used. PenFed's ABA routing number is 2560-7844-6.

All NMAFCU bill pay accounts and payment information will transfer to PenFed's Access Bill Pay system. Members will not need to reenter that information and will receive additional details about the transition of this service in the upcoming weeks.

Reoccurring internal transfers will move to PenFed during the account conversion process. PenFed will contact members if any internal transfers cannot be converted.

Electronic statements will be offered when you first register for PenFed Online (PenFed’s online banking system).

All certificates will transfer to PenFed at the same NMAFCU dividend rate and maturity date.

All fixed-rate and term loans will remain the same with no changes to rate, term, or payment.  If you have a fixed or variable rate consumer real estate loan (mortgage, equity or HELOC), these terms will also transfer to PenFed unchanged. Credit Card holders will be provided information regarding their Credit Card prior to the conversion date and will be offered an option to opt-out of any new terms if desired.

Yes, all mortgages, equity loans, and HELOCs will convert to PenFed at their existing rates and terms. Additional correspondence will be sent to members affected by this change.

NMAFCU credit cards will convert to an award winning PenFed Credit Card in the weeks after February 1^st, 2022. Additional correspondence will be sent to members affected by this change. Your NMAFCU Credit Card will continue to work as it always has during the transition period.

After February 1^st, 2022 the following options are available for members to make deposits or loan payments to their accounts:

1. Electronic Funds Transfer - You can initiate an electronic funds transfer at PenFed to deposit funds from an external bank account. All you need is the ABA routing number and account number of the other institution. PenFed’s routing number is 256078446.
2. Mobile Deposit - You can download our mobile app and use Mobile Deposit.
3. Internal Transfer from your PenFed account.
4. Mail - You can mail in a check (with your account number written on the check) to: PenFed, Box 247009, Omaha, NE, 68124-7009.
5. Branch - NMAFCU branches will be converted to PenFed branches and can accept payments or deposits for members wishing to visit these offices in person.

Shared branching will be discontinued as of February 1^st, 2022.  While we do not participate in shared branch networks, our mobile app, online banking platform and massive surcharge-free ATM network allow you to complete transactions anywhere, anytime.

For a complete listing of PenFed branch locations or ATMs, visit PenFed.org/Locations.