Personal finance digital platform Money announced the release of its 2024-2025 Best Banks list, with PenFed Credit Union, the nation’s second-largest federal credit union, making the annual list for Best Overall Credit Union. This list highlights the financial institutions across the United States where consumers can get matched with perfect options for their money and day-to-day banking needs.
“We are proud to be recognized by Money for providing our members with world-class service and low fees,” said PenFed President and CEO James Schenck. “In 2025, we look forward to continuing to help our nearly 3 million members achieve their financial dreams.”
PenFed was recognized as best overall credit union because of its openness to the public and its checking and savings accounts with low minimum deposit amounts and no monthly fees. Money also cited PenFed’s stellar customer satisfaction ratings and premium savings account. Currently, PenFed is offering members 3.00% APY1 with Premium Online Savings, which is 6X the national average2 with a minimum $5 investment.
To determine the list, Money analyzed more than 275 institutions across national banks, credit unions, online banks, regional banks and state banks. Institutions were judged by account fees, APYs, sign-up perks, monthly limits and ATM locations.
For more information about how PenFed can help you achieve your financial dreams, please visit PenFed.org.
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1APY (Annual Percentage Yield) is accurate as of November 1, 2024, and is subject to change at any time. Fees may reduce earnings. |
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Premium Online Savings account holders must agree to electronic delivery of account opening disclosures and monthly statements. |
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2The rate for our Premium Online Savings Account is over 6X the national average of 0.45% APY, based on the national average of savings accounts rates published in the FDIC Weekly National Rates and Rate Caps accurate as of October 21, 2024. |
About PenFed Credit Union
Established in 1935, Pentagon Federal Credit Union (PenFed) is America’s second-largest federal credit union, serving 2.8 million members worldwide with $32.7 billion in assets. PenFed Credit Union offers market-leading certificates, checking, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services with members’ interests always in mind. PenFed Credit Union is federally insured by the NCUA and is an Equal Housing Lender. To learn more about PenFed Credit Union, visit PenFed.org, like us on Facebook and follow us @PenFed on X. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.
