PFCU vs NFCU

[Huston55]

I didn't find any threads specifically comparing Pentagon Federal CU with Navy Federal CU so, I started this one.

I've been a member of PFCU for 24 yrs, and have been mostly very happy. But, a recent problem has caused me to consider switching to NFCU (or equivalent if there's another). During my 24 yrs as a member, I've held a mortgage with PFCU (paid off and I don't expect another one), bought CD ladders, and had a savings/checking account. In the future, I expect good CD or loan rates would be most important to me, along with excellent customer service. I'd like to hear the experience and thoughts of others who are/have been PFCU or NFCU members.

[calmloki]

Am also a PenFed ex-mortgage holder and happy recipient of PenFed CD income. They became less competitive and I reluctantly shifted to NavyFCU. Been very happy with them and no problems at all with their cheerful clear speaking voice telephone help.

[Lewis Clark]

I've been an NFCU member for over 30 years and have been very happy with them.

[friar1610]

I’ve been an NFCU member for 50+ years; PenFed for about 20. I’ve used NFCU as my primary “bank” for at least 30 years (savings, checking, CDs, mortgages, car loans, etc.) I haven’t needed a loan of any type for a fairly long time, so my more recent dealings with NFCU have not included them. I’ve only used PenFed for CDs.

I’ve been very pleased with NFCU over the years. I’ve certainly been satisfied with PenFed, albeit with much less interaction than with NFCU.

Their CD rates have waxed and waned over the years. For some time, PenFed was the clear leader. More recently, NFCU has offered better rates, particularly on “specials” where the term may be something odd like 17 months, 29 months and the like. Right now, of course, they both stink.

If I had to pick only one of them, it would be NFCU hands-down.

Disclosure: I’m a retired Navy guy with 28+ years active duty, so NFCU has been part of my financial life since I first started needing financial services. I may not be 100% objective.

[zinger1457]

I use NFCU for an auto loan and CD and happy with them. One thing I don't like about NFCU is that they don't allow you to set up autopay on their credit cards, I like the convenience of having my credit card balance paid off automatically each month. Maybe not a big issue for some but I ended up cancelling a credit card I had with them for this reason.

[pb4uski]

I have both... principally for CDs... back in 2013 PenFed was offering a 3% 5-year CD so I joined... when the CD matured in 2018 PenFed was no longer competitive and haven't been so since to my knowledge, so I later jumped on Navy Federal bandwagon.

I still keep my PenFed account in case their CDs ever become competitive again.

I rarely had a need to call PenFed, but in the few times I did the service was fine. Navy Federal service has been excellent.

[Dave J]

I have been a member of Penfed for almost 20 years. Navy Fed for a little over 10 years. I much prefer doing business on the Navy Fed website. I also much prefer the Navyfed phone service. Penfed used to be the rate leader, but not anymore before Covid. I will stay a member of both, but have 90% of my $$ currently in Navyfed. Navyfed has more branches scattered around the country. Almost none by Penfed.

[Dash man]

I have both PenFed and NFCU. I have a couple of credit cards from PenFed and like many, used to have CDs with them. Now I have minimal cash there just to keep the account open. I’ve only used NFCU for CDs. I use USAA for banking. Ally and Synchrony Banks have my CDs and savings.

[jazz4cash]

I have both and am generally satisfied with overall level of service. I don't see it as an either / or choice......I take advantage of the best offerings at both. Right now the PF premium online savings is pretty good but their CD rates are nothing special. NFCU CD rates are better assuming they keep having add-on specials and I have a branch very close by. Penfed closed the nearest branch to me but I still have access 30 min away.

[FANOFJESUS]

Both are great places. Much better than the big banks.