PenFed Credit Union Launches Free Checking Account for Members | State


TYSONS, Virginia, January 13, 2022 /PRNewswire/ — PenFed Credit Union, the nation’s second-largest federal credit union, today announced the launch of the PenFed free checking account. The new offering provides members with the convenience of a free checking account with no monthly fees or minimum balance requirements, as well as access to a fee-free ATM network of more than 85,000 ATMs nationwide.

“PenFed’s Free Chequing Account empowers our members to do more of what they want wherever life takes them, with no fees, no minimums, and no hassle,” said the Chief Marketing Officer and Senior Vice President. from PenFed. Gaurav Bhatia. “PenFed is open to anyone who wants to experience the credit union difference and members can open a free checking account with as little as 25 $.”

PenFed’s simple and easy checking account allows members to avoid the hassle of monthly maintenance fees and provides access to 24/7 digital banking services with the PenFed mobile app. Members can view their balances, view transactions and deposit checks from their phone using mobile deposit. Those who have set up direct deposit can also receive their paycheck up to a day earlier.1

PenFed Free Checking account holders are also eligible to earn 2% cash back on every purchase with a PenFed Power Cash Visa Signature® Rewards card.2

To learn more about free PenFed verification, please visit

1Early access to direct deposit is available to all PenFed members who have set up direct deposit with their employer or other payer. Eligibility for advance direct deposit may vary between pay periods and when payors are funded.

2Free checking accounts are eligible for PenFed Honors Benefit Program.

About PenFed Credit Union

Founded in 1935, the Pentagon Federal Credit Union (PenFed) is the second largest U.S. federal credit union, serving 2.6 million members worldwide with $31 billion in assets. PenFed Credit Union offers certificates, checks, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services. Our mission is to empower members of our community to achieve financial well-being. PenFed Credit Union is federally insured by the NCUA and is an equal housing lender. To learn more about PenFed Credit Union, visit, like us on Facebook and follow us @PenFed on Twitter. Interested in working for PenFed? Find us on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.

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SOURCE PenFed Credit Union


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