Find an updated list of PenFed Credit Union promotions, bonuses, and offers here.
Currently, they have a $750 Savings bonus whereas you get $150 with every $10,000 deposit.
About PenFed Credit Union Promotions
PenFed is one of the largest credit unions in the country and offers a range of banking products and services, in addition to credit cards and loans. They serve more than 1.6 million members, including many in the Air Force, Army, Coast Guard, Department of Homeland Security, Department of Defense, and the Veterans of Foreign Wars.
| Eligibility: PenFed is a Credit Union and requires you to become a member before you obtain any products. You will need to maintain a $5 Savings/Share Account as part of your PenFed membership. Membership is open to the following: (1) members of the United States Military and Uniformed Services; (2) employees of the U.S. government; See current membership details |
I’ll review the current offer below.
PenFed Credit Union $750 Savings Bonus
PenFed Credit Union is offering up to $750 bonus when you open a Premium Online Savings account. You get $150 bonus for every $10,000, up to $50,000.
- What you’ll get: Up to $750 bonus
- Account Type: Premium Online Savings Account
- Availability: Nationwide (Bank Locator)
- Credit Inquiry: Soft Pull
- ChexSystems: Unknown
- Credit Card Funding: Up to $500 via AMEX CC
- Direct Deposit Requirement: No (see what works)
- Monthly Fee: No
- Household Limit: None
- Closing Account Fee: Must keep deposit money unitl 4/30/24
(Expires December 30, 2023)
| You can compare this to several great entry level Checking accounts with offers include the BMO Smart Money Checking ($400 bonus), Bank of America ($200 bonus offer), U.S. Bank Smartly® Checking ($800 bonus), Chase Total Checking® ($200 bonus), SoFi Checking and Savings ($275 bonus), Fifth Third Bank Momentum® Checking ($200 bonus), KeyBank Checking ($200 bonus). |
How To Earn $750 Savings Bonus
- You must open a new PenFed Premium Online Savings account between 11/15/23 to 12/30/23 to be eligible for the Bonus Offer.
- During the Offer Period or before 12/30/2023, make deposits of up to at least $10,000 from an external account into your PenFed Premium Online Savings account.
- The new money must remain in the PenFed Premium Online Savings account from 12/30/23 to 4/30/24 to be eligible for the Offer.
- External funds are considered any new money deposited into your account from an account not affiliated with PenFed.
- Funds transferred internally within PenFed accounts do not qualify for this offer.
- Your total balances at PenFed must increase by the end of the promo period.
- Upon meeting the Offer qualifications, you will receive a $150 bonus for every $10,000 deposited into your account.
- Maximum bonus received is $750 per member.
- Bonus will be credited to the account in the form of a statement credit.
- Please allow up to 60 days for the Bonus to appear in your account.
- Your promotional bonus will be reported on your year-end Form 1099-INT as taxable income.
PenFed Credit Union $350 Car Buying Service & Loan Bonus
PenFed Credit Union is offering a $350 cash bonus when you buy a car with the PenFed Car Buying Service with a PenFed loan.
- What you’ll get: $350 bonus
- Account Type: PenFed Loan
- Availability: Nationwide
- Credit Inquiry: More than likely a hard pull due to it being a loan
- ChexSystems: Unknown
- Opening Deposit: N/A
- Credit Card Funding: N/A
- Direct Deposit Requirement: N/A
- Monthly Fee: N/A
- Household Limit: None
- Closing Account Fee: Not listed
(Expires 04/30/2023)
| For more advanced features in a checking account, compare this offer to BMO Relationship Checking ($600 Bonus), U.S. Bank Smartly® Checking ($800 bonus), Chase Private Client ($3,000 Bonus), TD Bank Beyond Checking ($300 Bonus), Fifth Third Bank Preferred Checking ($200 bonus), KeyBank Checking ($200 bonus). |
How To Earn Bonus
- For a limited time, receive a $350 cash bonus when you buy a car with the PenFed Car Buying Service with a PenFed loan.
- Loan must be currently active and have at least 2 payments posted in order to qualify for the rebate.
- The $350 rebate will be deposited to the member share savings account within 60 days of receiving the second payment.
- Some benefits not available in NY or NH. Terms and conditions apply.
- Auto Deductible Reimbursement is provided by Voyager Indemnity Insurance Company, an Assurant company.
- The PenFed Car Buying Service rebate of $350 will apply to new and used purchase loan applications with a qualifying vehicle purchase sourced through the PenFed Car Buying Service.
- Applications and Car Buying Service dealership match must be received during the promotional period, between 2/1/2023 and 4/30/2023.
- Dealer originated loans and refinance loans are not eligible for this promotion.
- Loan must be currently active and have at least 2 payments posted in order to qualify for the rebate.
- The $350 rebate will be deposited to the member share savings account within 60 days of receiving the second payment.
- PenFed may discontinue or change the promotion at any time.
- Other restrictions may apply.
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Bottom Line
Currently, PenFed Credit Union is offering a bonus promotion for qualifying accounts.
If this does not interest you, you can check out more bank bonuses that are available in multiple states for more suitable offers.
CDs and Savings Accounts are a great way to earn and save money. For more information, check out our full list of some of the best Bank Rates and CD Rates nationwide.
Additionally, leave a comment below informing us about your experience with this credit union. Your feedback is highly appreciated and makes our site even better!
*Check back for updated PenFed Credit Union promotions, bonuses, and offers.
YEs, PLEASE UPDATE! This seems to have been pulled by PenFed. Another bonus website shows it as “expired”, there is NO MENTION of a bonus on either the linked PenFed page or anywhere on their wbesite!
Although this website lists the promotion ending 6/14/20, I called them today on 5/27/20 and they stated that this promotion is no longer valid. Skip this one and go to the next promotion.
i got the same answer today (5/28)
Just funded this account with AMEX CC–500$ Max
They do have cc funding. Max 100 for sav and 500 for the checking.