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Fortune

Casey Bond

PenFed Credit Union Review 2023: High-yield savings with credit union comforts

Illustration of the PenFed Credit Union logo surrounded by a green and blue frame. (Credit: Illustration by Fortune; Original logo by PenFed Credit Union)

Established in 1935 and headquartered in Tysons, Virginia, Pentagon Federal Credit Union (PenFed) is the second-largest federal credit union. As of April 28, 2023, it had more than $35.3 billion in assets.

At present, PenFed serves over 2.9 million members worldwide and offers various financial products and services, including share certificates (the credit union equivalent of certificates of deposit), checking accounts, credit cards, personal loans, mortgages, auto loans, student loans, and more.

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