POST OFFICE 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.

Yes, the Post Office Credit Union branch will remain open with the same employees you know so well. Branch hours will also remain the same.

All Post Office Credit Union accounts will be mapped to equivalent PenFed accounts.

For dual members, all Post Office Credit Union 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 Post Office Credit Union debit card. Your Post Office Credit Union debit card will continue to work until the account conversion is completed in early April 2021. 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.

Post Office Credit Union members may continue to use their Post Office Credit Union checks, for up to 6 months after the official merger date. Additional details regarding replacement checks will be provided in future communications. The initial replacement order of checks will be complimentary.

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 Overdraft Line of Credit with Post Office Credit Union, 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.

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

No. Post Office Credit Union members' direct deposits, ACH, automated credit and debit entries, transfers, all electronic items including retirement and Social Security will automatically be redirected to PenFed during the merger process. If a new direct deposit or preauthorized debit is setup after April 1^st, 2021, the new PenFed account number and routing number should be used. PenFed's ABA routing number is 2560-7844-6.

Internal transfers will remain after the merger. PenFed will contact members if any internal transfers cannot be converted.

Yes. All loans will transfer to PenFed at the existing Post Office Credit Union rates and terms. Certificates will transfer to PenFed at the same Post Office Credit Union dividend rate and maturity date.

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.

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.

You can withdraw money from your account in the following ways:

• No-fee cash withdrawals at 85,000+ ATMs through Allpoint Network, CO-OP Shared Branch Networks and PenFed Branches in the US
• Use your debit card for purchases
• Online transfer to an external bank account
• Use online bill pay
• Write a check
• Wire transfer

No, shared branching will be discontinued as of the account conversion date.  Members can make deposits using our mobile app, schedule payments on our mobile app or online, and can withdraw funds at over 85,000 ATM nationwide.