Earn % APY* on your savings.
Put more money back into your pocket!
As a not-for-profit, we're able to offer higher yields and fulfill our promise of giving back to our members.
You can establish your PenFed membership with a Premium Online Savings Account.
Setup recurring transfers from your account without paying annoying transfer fees.
Your account is Federally
insured by the NCUA to at least $250,000.
APY (Annual Percentage Yield) is accurate as of and is subject to change at any time. Fees may reduce earnings.
Premium Online Savings account holders must agree to electronic delivery of account opening disclosures and monthly statements.
1The rate for our Premium Online Savings Account is the national average of % APY, based on the national average of savings accounts rates published in the FDIC Weekly National Rates and Rate Caps accurate as of .
We offer rates that are consistently competitive.**
**Data sourced directly from each lender listed: navyfederal.org, usaa.com, bankofamerica.com, and wellsfargo.com, and are current as of .
You will need your social security number to open an account. You can add a joint owner and up to two beneficiaries during the account opening. If you would like to have a joint owner, you will need your joint owner to enter their social security number and other personal details.
Click “Open Now” at the top of this page to get started.
Enter your account and routing numbers for your account at another financial institution to fund your new PenFed account.
There is an incoming transfer limit of $50,000 per day for transfers you initiate at PenFed. For outgoing transfers, there is a limit of $25,000 per day for transfers you initiate at PenFed.
If you would like to deposit more funds into your account please contact your other institution and send us a Wire or initiate a transfer at your other institution.
To withdraw more funds please initiate a transfer at your other institution, or call us to send a Wire.
Generally, when you request an electronic transfer or make a check deposit, your funds will be available for withdrawal on the 5th business day after you initiate your transaction at PenFed. If you internally transfer funds from another PenFed account, your funds will be available for withdrawal on the 5th business day after you initiate your transaction at PenFed.
You will start to earn dividends on the business day you initiate your deposit or transfer at PenFed.
Business Days are Monday through Friday excluding standard holidays observed by the Federal Reserve System.
You will start to earn dividends on the business day you initiate your deposit at PenFed.
Dividends are compounded monthly and credited to your account monthly.
If you choose to link your PenFed Premium Online Savings account to an external bank account using account and routing numbers, we may use trial deposits to verify your access to that account.
Here’s how it works:
Make your check out to yourself or PenFed Credit Union and mail the check with your voucher to:
Your Premium Online Savings Account is not accessible from an ATM. To access your savings from an ATM open a Regular Savings Account or a Money Market Savings Account.