Pentagon Federal Credit Union (PenFed) is offering a savings account they call their “Regular Share Savings Account.” The savings account interest rate is currently at 0.35 percent with an APY of 0.35 percent.

The benefit of having a savings account at PenFed is not the savings rate but the benefits of joining PenFed Credit Union. To join PenFed you have to be eligible and you have to open a Regular Share Savings account.

Once you have joined and opened an account, you can get access to their certificate of deposit rates which are some of the best CD rates around these days.

Savings Accounts and certificate of deposit accounts are insured for up to $250,000 by the National Credit Union Administration (NCUA). The NCUA is an independent federal agency that charters and supervises federal credit unions throughout the United States and its territories.

For more information on PenFed’s savings account visit: PenFed.org