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PenFed CD Rates Explained for June 2026

Nichole MartinezNichole Martinez 1 min read
A instead of CDs, but they function the same way as CDs at a traditional bank.

PenFed Credit Union pays up to 3.10% APY on its money market certificates, the credit union's version of a CD, with a minimum deposit of $1,000 and terms ranging from six months to seven years. That rate beats plenty of bank CDs, though it is not the top offer on the market right now.

At a Glance

  • Money market certificates pay 2.70% to 3.10% APY depending on term, with a $1,000 minimum deposit.
  • IRA certificates pay 2.80% to 3.00% APY, also with a $1,000 minimum.
  • Coverdell education savings certificates pay 2.80% to 3.00% APY and only require $500 to open.
  • Anyone can join PenFed, since it operates under an open charter.
  • Early withdrawal penalties can wipe out between 30% and 100% of the dividends you have earned.
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What PenFed Pays on Its Certificates

PenFed calls its CDs

savings certificates

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