Pentagon Federal Credit Union, or PenFed, is a financial institution that’s committed to providing affordable financial solutions to its members. With over 1.8 million members, it’s one of the largest credit unions in the country. The organization was founded in 1935 with the objective of serving the needs of the Army, Air Force, Coast Guard, Department of Defense employees, and their families.

Over the years, PenFed has grown to become a full-service financial institution, offering a variety of services to its members, including checking and savings accounts, personal loans, mortgage, credit cards, and wealth management services. The credit union operates in all 50 states, and its headquarters is located in Tysons, Virginia.

If you’re thinking about joining PenFed, here’s what you need to know:

Membership

Membership at PenFed is open to anyone who is connected to the military or is a member of an eligible organization or community. To become a member, you can join one of the following organizations:

• National Military Family Association: For a one-time $17 donation, you can become a member of the National Military Family Association and gain access to PenFed.

• Voices for America’s Troops: For a one-time $15 donation, you can become a member of Voices for America’s Troops and gain access to PenFed.

• The American Red Cross: If you’re a member of the American Red Cross, you can become a PenFed member.

• Others: If you’re not a member of any of the above organizations, you can still apply for PenFed membership by making a one-time $5 donation to the National Military Family Association.

Products and Services

PenFed offers a range of financial products and services that are designed to meet the unique needs of its members. Some of the most popular products and services include:

• Checking and savings accounts: PenFed offers several checking and savings accounts that have low or no fees and earn competitive interest rates.

• Personal loans: PenFed offers personal loans that can be used for a variety of purposes, including debt consolidation, home improvements, and unexpected expenses.

• Mortgages: PenFed offers mortgages for both new homebuyers and those who are looking to refinance their current mortgage.

• Credit cards: PenFed offers several credit cards that offer rewards points, cashback, and other perks.

• Wealth management: PenFed offers a variety of wealth management services, including financial planning, investment management, and retirement planning.

Customer Service

PenFed is committed to providing exceptional customer service to its members. The credit union has a responsive and knowledgeable customer support team that’s available to assist members with any questions or issues they may have. In addition, PenFed offers a robust online banking platform that makes it easy for members to manage their accounts from anywhere.

Final Thoughts

If you’re looking for a financial institution that’s committed to serving the unique needs of military personnel and their families, PenFed is an excellent choice. With a wide range of financial products and services, competitive interest rates, and exceptional customer service, it’s no wonder why PenFed has become one of the largest credit unions in the country.

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