Read our full PenFed Credit Union Review. You can use the funds to renew your certificate, transfer the funds into another PenFed account or have a check mailed to you.

This gives you some additional flexibility in deciding what you’ll do with the funds in your account when it matures. With PenFed, you choose your maturity option-whether or not to have the certificate automatically renew-when you open your certificate account and can change it at any time before maturity. You can join PenFed Credit Union by opening a savings account with an initial deposit of $5. When a CD is issued by a credit union rather than a bank, it’s referred to as a share certificate. One quick tip: Don’t let the “money market” in this certificate’s name confuse you this is a share certificate, not a money market account. The credit union gets excellent customer satisfaction scores and it offers a highly rated mobile app for iOS and Android. Its six-month certificate pays a competitive 3.00% APY.

PenFed Credit Union pays competitive yields on nine different certificate terms, ranging from six months to five years.

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