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Pen Air Federal Credit Union


Popular Accounts at this Credit Union

1.90%5-year CD60 Month CD
1.90%5-year IRA60 Month IRA (Traditional, Roth, SEP, CESA)
1.00%1-year CD13 Month-Special CD

Overview / Commentary
1495 E Nine Mile Rd
Pensacola, FL 32514-5723

Pen Air Federal Credit Union is headquartered in Pensacola and is the 13th largest credit union in the state of Florida. It is also the 190th largest credit union in the nation. It was established in 1936 and as of June of 2017, it had grown to 324 employees and 98,734 members at 19 locations. Pen Air Federal Credit Union's money market rates are 14% higher than the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Membership is open to anyone through becoming a member of the Friends of the Navy-Marine Corps Relief Society by making a $3 donation. Membership is open to (1) active duty or retired military; (2) federal civil service employee; (3) employees of US Environmental Protection Agency, Time Warner Cable, and over 500 Select Employer Groups.
See current membership details

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Posted by: Anonymous | May 25, 2011

I recently applied for a car loan with Pen Air, but I unfortunately did not qualify due to my FICO score not being high enough.

The loan person I was speaking with explained in honest detail what I needed to do to improve my FICO score. I was very appreciative for the loan person taking the time to explain this. Most banks would not bother.

Pen Air is a great credit union to belong too and they take care of their members. Plus, if you don't live in Florida, you can still make deposits at other credit unions that honor the CU Service Center.

You will be very happy with this credit union.

Fly By This Bank

Opened a checking account in Gulf Breeze to find it was only opened as a savings account...deposited $12,000 in a cashiers check which was held for 5 days before funds were available based on the bank managers decision! Told teller i needed to get the money into my USAA checking account ASAP and needed the checking account I applied for. She said i had to maintain $500 min to have a free checking account to write a check to myself... later to find there was no minimum by the call center. She said I could set up offline transfers to get my $ into other accounts...found there is a max of $2000/day and $5000/month as well as $3.95 per transfer! This bank is evidently run on the bank manager’s assessment of the clothes you’re wearing instead of any written banking rules and tellers who have no clue of their own basic banking requirements...not to mention their nickel & diming with min or max requirements and other bank does this! Save yourself time & money and a lot of continual frustration and land elsewhere.
Today i went back to the Gulf Breeze branch and opened up a FREE checking account in less than 5 minutes and received 8 courtesy checks to finally move my money. The accounts manager was apologetic, helpful and she had lots of smiles...what a difference from my first experience! The online banking and ability to link external accounts is very convenient and user friendly. If it weren’t for all the ridiculous in house rules, holds on cashier checks and limits and fees associated with electronic transfers to external accounts, I would consider making this my primary bank. I will up my overall rating from 1 to 3 stars and customer service from 1 to 4 because of the wonderful (and most of all competent) girl in membership accounts.

I Want Your 29 Dollars Now.

Posted by: debedeb | Oct 13, 2012

I have been a member of Penair for about 20 years. I have never had to worry about my money being safe. They often have a set up of overdraw allowance per month. They are now in the past few years keep changing policy to the point you have no idea what is really going on. I am often charged 29.00 fees for one overage, and if you have one dollar over you get a charged 29. dollar fee. I find this to be unfair and the police not reliable. To customers of this bank fo many years, and during a trying economy; I have had no interest of help from these ppl. My card gets shut off without warning when the security does not like a purchase area. I went to a family water park in town, tjen went grocery shopping the next day for 60 dollars, I had spent time shoppin gand checking out to find out, they had lock my card for poss fraud of 15.00 ? I was in texas and had a emergency with no way to stop payments from coming in, and bank was happy to collect many 29 dollar fees. When will laws start providing safty to the working calss ppl. businesses have the right to take out our accounts when they want to weather we have the money or not. There should be limits of course for that.Banks do not care about making money honestly any more. Thsi is disturbing. I hope this helps someone. It don't help me.

One Word....Awful!!!

the following is the experience I had with Pen Air:

Very poor customer service. It is really sad when you penalize a veteran who is a member of the credit union for not utilizing your financial institution as their primary bank. You pull my credit report without my authorization, and site utilization as a concern? I have a checking account and a savings account. If I was trying to screw you I would have done it a long time ago. You are a credit union affiliated with the military. Many of your members do not reside in Pensacola. You revoke access to online banking and tell me all transactions will need to be conducted in the branch? By doing this you obviously should not be affiliated with the military because not everyone can walk into a branch. So I closed my account because it's pointless for me to have it. Your representative was more than happy to do it, and was quite snide while doing so. You are supposed to be about your members? Clearly not when you treat people this way. The sad part...My account was in good standing, and I still was treated this way. I will make sure EVERYONE I know hears how Pen Air treats people.



Health Grade Components

NCUA #1303
Year Chartered1936
Primary Regulator
Profit Margin
Return on Assets - YTD1.02%
Return on Equity - YTD8.27%
Annual Interest Income$23.8MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$1.40B$1.32B
LoansQ2 2017vs Q2 2016$800.1MM$690.3MM
DepositsQ2 2017vs Q2 2016$1.21B$1.14B
Equity CapitalQ2 2017vs Q2 2016$172.6MM$163.4MM
Loan Loss AllowanceQ2 2017vs Q2 2016$8.4MM$8.7MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$4.6MM$3.7MM
Real Estate OwnedQ2 2017vs Q2 2016$573.00K$208.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Pen Air Federal Credit Union Savings Account Rates

0.50%--Health Savings Account (HSA)
0.50%$25-Christmas Club
0.50%--Minor Account Savings
0.50%--Minor Account Secondary Savings
0.45%*$75k*-Share Savings Accounts
OTHER TIERS: 0.10% $25 - $5k | 0.25% $5k - $25k | 0.34% $25k - $75k
0.45%*$75k*-IRA Savings
OTHER TIERS: 0.10% $25 - $5k | 0.25% $5k - $25k | 0.34% $25k - $75k

Pen Air Federal Credit Union Money Market Rates

0.50%*$200k*-Money Market
OTHER TIERS: 0.25% $2,500 - $25k | 0.34% $25k - $75k | 0.45% $75k - $200k

Pen Air Federal Credit Union CD Rates

1.90%$500-60 Month CD
1.70%$500-48 Month CD
1.50%$500-36 Month CD
1.25%$500-24 Month CD
1.10%$500-18 Month CD
1.00%$500-13 Month-Special CD
1.00%$1,500-15 Month Add-On CD
0.95%$500-12 Month CD
0.65%--12 Month Jump Start Certificate
0.60%$500-10 Month CD
0.55%$500-6 Month CD
0.35%$1,500-3 Month CD

Pen Air Federal Credit Union IRA Rates

1.90%$500-60 Month IRA
1.70%$500-48 Month IRA
1.50%$500-36 Month IRA
1.25%$500-24 Month IRA
1.10%$500-18 Month IRA
1.00%$500-13 Month-Special IRA
1.00%$1,500-15 Month Add-On IRA
0.95%$500-12 Month IRA
0.60%$500-10 Month IRA
0.55%$500-6 Month IRA