bank rates

PenFed Offers Good Long-Term CD Rates

Anyone can join this credit union with a donation to one of two military organizations.Pentagon Federal Credit Union has 60-month CD rates that beat the best nationally available 5-year deal on our CD Rates Leaderboard.

The nation’s third-largest credit union pays 2.25% APY with $1,000 minimum deposit.

The leader of the 60-month term on our Leaderboard, Quaint Oak Bank, offers 2.20% APY. The current average annual yield offered by large banks and thrifts remains a record low 1.17%.

Although we don’t track CDs with longer maturities for our Leaderboard, PenFed also offers one of the best long-term deals available right now: 2.75% APY on 7-year CDs.

Based in Alexandria, Va., Pentagon Federal Credit Union has more than a million members who benefit from far-better-than-average rates across the board:

6-month CD rate is 0.50% APY versus an average rate of 0.22% APY. (Leaderboard leader is 0.88% APY.)

12-month CD rate is 0.99% APY versus an average rate of 0.35% APY. (Leaderboard leader is 1.15% APY.)

24-month CD rate is 1.25% APY versus an average rate of 0.52% APY. (Leaderboard leader is 1.30% APY.)

36-month CD rate is 1.50% APY versus an average rate of 0.67% APY. (Leaderboard leader is 1.65% APY.)

While membership is geared toward military personnel, government employees and members of qualifying organizations, anyone who doesn’t meet standard eligibility requirements can join this credit union by joining one of two military groups.

Under the “join now” tab on the website (, choose “none of the above.”

You’ll be prompted to join either the National Military Family Association for a one-time $20 fee or Voices for America’s Troops for a one-time $15 fee.

Members can purchase certificates of deposit online, over the phone or in person at a Pentagon Federal Credit Union branch. Branches are located in the Washington, D.C., area; Hawaii, New York, North Carolina and Texas, and at military bases in Guam, Japan, Portugal, Puerto Rico and Turkey.

Compare Pentagon Federal Credit Union’s returns with the best CD rates from scores of other banks in our extensive database.

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Comments (4)
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4 Existing Comments
  1. Randy B said:
    on December 19th at 02:54 am

    Melrose Credit Union in New York offers a 5-year CD @ 2.68% APR with a minimum $5,000 deposit and a $25 required SHARE account opening and a $1 CU membership fee. I think only certain states (including California) may be eligible to take part in their membership.

  2. Mike Cetera said:
    on December 19th at 08:48 am

    Membership in Melrose is available to anyone regardless of where they live. Here’s our most recent post on this credit union, which consistently has CD rates better than most banks or credit unions in the country.

  3. JAZZYCAMP said:
    on December 24th at 05:12 pm


  4. Kathy at Bankaholic said:
    on January 9th at 09:26 am

    PenFed has actually RAISED its 12-month rate — to 1.16% APY. The other rates are all still available.