Magnify Money, a personal finance site powered by LendingTree, recently featured Pen Air Federal Credit among its list of “Best Credit Union CD rates with restricted memberships or membership fees.”
Pen Air offers a 12-month CD at 1.8% APY that requires a $500 minimum deposit to open. The credit union offers CDs with a range of terms, from 3 months to 60 months. Pen Air is open to active duty or retired military, civil service employees, employees at select employer groups and anyone who simply joins the Friends of the Navy-Marine Relief Society.
“Each of these credit unions have membership criteria, but don’t let that scare you away,” according to the Magnify Money article. “If you don’t meet their membership criteria, it’s often possible to make a small donation to their charity of choice in order to become eligible for membership. Furthermore, these credit union CD rates offer some of the highest-returning share certificates out of any category.”
Also featured in: Magnify Money