Updated 5/20/2020 – Offer Expired: PenFed has expired this offer early and the promo link is no longer working. We will update this page if/when another PenFed checking account bonus becomes available again.
Get a $200 bonus when you open an Access America Checking Account from PenFed Credit Union, deposit a minimum of $1,200, and make 5 debit card purchases within 90 days.
Since no military service is required for membership, anybody can join Pentagon Federal Credit Union.
In addition, there is no membership fee to join PenFed, so you can join for free.
To join, you simply follow the online application, and PenFed will guide you through the steps to set up your membership.
In order to establish PenFed membership, you’ll need to fund your Regular Share (savings) account with a $5 minimum balance.
If you join PenFed, check out the PenFed Power Cash Rewards Card as well, which offers 2% cash back for Access America Checking Account holders.
$200 PenFed Checking Bonus
Check out this PenFed Checking $200 Promotion to apply online by June 14, 2020.
To qualify for the $200 bonus, you must deposit at least $1,200 into your checking account and make 5 debit card purchases within the first 90 days.
Once you qualify, the $200 bonus will be credited to your checking account within 120 days from opening.
Your account must remain open, active, and in good standing (no negative balance) until the bonus distribution time.
This offer is only available to new personal checking members who do not have an existing checking account and qualify for an Access America Account.
PenFed will issue an IRS form 1099 reporting the value of the bonus.
There is a limit of 1 bonus per member.
Access America Checking Account
- Minimum deposit of $25 required to open account.
- $10 monthly service charge – No fee with $500 daily balance OR $500 minimum monthly direct deposit.
- 0.50% APY with a daily balance of $20K or more up to $50K.
- 0.20% APY with a daily balance less than $20K.
- Earn dividends with monthly direct deposit of $500 or more.
To earn an extra $200, join PenFed Credit Union and open an Access America Checking Account.
A special thank you goes out to My Money Blog for posting about this offer.
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Review these top bank account promotions and nationwide credit union new member offers to earn extra sign-up bonuses.
Sam says
Dead…. link does not work
MM Team says
Thank you, Sam. It looks like they ended it early.
Julia says
Good offer! I just signed up and good approved.
Arnold S says
I was going to sign up for this account but after reading other web pages I see that this credit union does a hard pull for opening the account. I can understand a soft pull to do identity verification but there’s no need to do a hard pull when there’s no credit involved.
Qbtone says
Hard pull only occurs if you opt in to overdraft protection. Multiple dp’s.
Also, Anyone can join PenFed. $17 membership is no longer required
MM Team says
Hello Qbtone, thank you for the information. I’ve updated the above article to remove mention of the $17 membership fee. Appreciate your help.