ALEXANDRIA, Va., Jan. 27, 2015 /PRNewswire-USNewswire/ -- Pentagon Federal Credit Union (PenFed) demonstrated its commitment to provide best-in-class, innovative financial products and services to its members by announcing today that its much anticipated Access America checking account is now available to members.
A modern approach to checking, PenFed's Access America checking represents what its members wanted in a checking account.
"We're excited to be able to deliver a new checking option to our members," said Kevyn Myers, executive vice president and chief operating officer with PenFed. "Our members have been asking for a low-cost checking account that includes rich features such as dividends on deposits, free online bill payment, and identity theft protection. We listened, and today we proudly introduce the Access America account."
Myers continued, "Another benefit of Access America is easy access to money. Through our partnership with the Allpoint Network, we have expanded our network of free ATMs for PenFed members to more than 56,000 worldwide. This is a big enhancement because it allows Access America users to withdraw funds absolutely surcharge free."
Access America: A smarter, better way to access and manage money.
PenFed's new Access America checking is an evolution from traditional checking accounts. Designed with versatility, access, and enhanced security in mind, the checking account features:
Superior dividends* on deposits
Free online bill payment
Equifax® Identity Theft Protection1
Easy access to over 56,000 free ATMs
World-class online and mobile banking
To learn more about PenFed's Access America checking or membership eligibility, visit PenFed.org/Access-America-Checking/.
Established in 1935 as the War Department Credit Union, PenFed is one of the largest credit unions in the country, serving 1.3 million members worldwide; with nearly $18 billion in assets. Its long-standing mission has been to provide superior financial services in a cost effective manner, while being responsive to members' needs. PenFed offers market-leading mortgages, automobile loans, credit cards, checking, and a wide range of other financial services with its members' interests always in mind. Serving a diverse population, PenFed offers many ways to become a member; including numerous employee groups and association affiliations. PenFed is federally insured by the NCUA and is an equal housing lender. PenFed does business in accordance with the Federal Fair Housing Law, the Equal Credit Opportunity Act, and is a member of NAFCU. To learn more about PenFed, visit PenFed.org.
*Earn dividends with direct deposits of $1,000 or more AND an average daily balance between $5,000 and $50,000 per statement cycle.
**This is a line of credit for qualified applicants.
1 Access America Account & Identity Theft Insurance: The Access America account is a variable rate account and is a tiered rate account. Rates and tiers are subject to change without notice. $25 is required to open the account. When the account is eligible to earn dividends, the first $0 - $4,999.99 of the average daily balance will earn a rate of 0.00%, with an effective annual percentage yield (APY) of 0.00% within the first dividend tier. Amounts from $5,000 - $19,999.99 of the average daily balance will earn a dividend rate of 0.25% with an effective APY of 0.00% - 0.19% within the second dividend tier. Amounts from $20,000 - $50,000 of the average daily balance will earn a dividend rate of 0.50% with an effective APY of 0.19% - 0.38% within the third tier. Amounts over $50,000 do not earn dividends. APYs are valid as of last dividend declaration date of January 1, 2015. Fees may reduce earnings on the account.
Identity theft protection from Equifax® —a $155 value, is provided to the primary member for the first year after account opening. After one year, if the member wishes to continue the product, it is just $2.95 per month. Joint account holders may sign up for the product for $2.95 per month.
SOURCE Pentagon Federal Credit Union