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Get updated promotions and offers from PenFed Credit Union for their Checking, Savings, Money Market and CD accounts here.
Established in 1935 and headquartered in Alexandria, Virginia, PenFed CU has around 50 locations throughout these states: CA, DC, FL, GA, HI, KY, MD, NC, NE, NM, NY, PA, TN, TX, VA. Membership is available nationwide so all U.S. residents can take advantage of their offers.
Membership in PenFed Credit Union is open to anyone through membership in Voices For America’s Troops ($17 one-year membership fee) or the National Military Family Association ($17 donation). Membership is also open to the following: (1) members of the United States Military and Uniformed Services; (2) employees of the U.S. government; (3) live or work in Fort Hood, Fort Gordon, Fort Shafter, Belvoir, Virginia and other select military or U.S. government locations; (4) employees of American Red Cross, Anderson Air Force Base, and over 100 Select Employer Groups; (5) members of Marine Corps League, National Military Family Association, and over 40 military-related associations; (6) and to immediate family of those who are eligible. (Complete membership requirements are listed in the credit union’s online application). See current membership info.
Rates with PenFed CU are fairly competitive, but you’ll want to compare them with the nation’s best before deciding. See the best Savings rates here and the best CD rates here.
For more current offers, see our bank bonuses page. Popular offers can be had from banks like Chase Bank, HSBC Bank, TD Bank, BBVA, Bank of America, and many more.
PenFed Credit Union Promotions Review Below
Penfed Credit Union $200 Checking Offer
- What you’ll get: $200 bonus
- Where it’s available: Nationwide via membership
- How to earn it:
- Open a new Access America Checking Account
- Deposit a minimum of $1200 and make 5 debit card purchases within 90 days of account opening.
- When it expires: 6/14/2020
There are several offers I’d recommend comparing this one to. A few great entry level Checking accounts with bonus offers include the Chase Total Checking® ($200 bonus), Bank of America Advantage Plus Banking® ($100 bonus), TD Bank Convenience CheckingSM ($150 bonus), BBVA Online Checking ($200 bonus) and HSBC Advance Checking (up to $240 bonus).
How To Earn The Bonus
- Open a new Access America Checking Account
- Deposit a minimum of $1200 and make 5 debit card purchases within 90 days of account opening.
Access America Checking $10 Monthly Fee:
No monthly fee with daily balance of $500, or monthly direct deposit of $500 or more.
- Must receive at least $1200 in deposits in your checking account within 90 days of account opening and make 5 debit card purchases in the first 90 days.
- Only available to new personal checking members who do not have an existing checking account and qualify for an Access America Account.
- Once the criteria is met, the bonus will be credited to the new personal checking account no later than 120 days from account opening.
- Account must remain open, active and in good standing (no negative balance) at time bonus is distributed.
- PenFed will issue an IRS form 1099 reporting the value of the bonus.
- One bonus per member.
Bottom Line
Appears to be a good offer for a $200 bonus value, given there isn’t a direct deposit requirement to be eligible. Compare this offer with the best bank bonuses here.
| OFFER LINK | OFFER | OUR REVIEW |
| Chase Total Business Checking® | $300 Cash | Review |
| Chase Premier Plus Checking℠ | $300 Cash | Review |
| Chase Total Checking® | $200 Cash | Review |
| Chase Savings℠ | $150 Cash | Review |
| Bank of America Checking | $100 Offer | Review |
| TD Bank Beyond Checking | $300 Cash | Review |
| HSBC Premier Checking | $450 Cash | Review |
| HSBC Premier Checking | Up To $600 | Review |
| HSBC Advance Checking | $200 Cash | Review |
| HSBC Advance Checking | Up To $240 | Review |
| BBVA Checking & Savings | Up To $250 | Review |
| You Invest℠ by J.P. Morgan | Up To $725 | Review |
| Ally Invest | Up To $3,500 | Review |
| Betterment | 1 Year Free | Review |
*These responses are not provided or commissioned by the bank advertiser, credit card issuer, hotel, airline or other entity. Responses have not been reviewed, approved or otherwise endorsed by any of the entities included within the post. It is not the bank advertiser's or any other entity's responsibility to ensure all posts and/or questions are answered.