PenFed Credit Union – Personal Loan
PenFed Credit Union offers competitive personal loans starting at $600 with no origination fee, open membership for all US residents.
Applying does not obligate you to accept a loan offer.
PenFed Personal Loan – Review 2026
Pentagon Federal Credit Union (PenFed) is the second-largest federal credit union in the United States. Membership is open to anyone, no military service required. Personal loans offer some of the lowest APRs in the credit union space.
Loan Details
Loans range from $600 to $50,000 with terms of 12 to 60 months. APRs from 7.99% to 17.99% with no origination fee. Existing PenFed members can receive same-day decisions in many cases.
Membership
To borrow you must be a PenFed member. Joining requires opening a savings account with a $5 minimum deposit. Membership is open to anyone in the US, no employment or military requirement.
✓ Pros
- Low credit union rates
- Small minimum loan
- Open to anyone
- No origination fees
✗ Cons
- Must join PenFed first
- Maximum APR 17.99%
- No long terms (over 60 months)
Loan Example
Example: $5,000 loan for 36 months at 9.99% APR = monthly payment of $161.34, total payable $5,808.24.
Eligibility Requirements
- ✓ Age 18+ years
- ✓ US resident
- ✓ Open PenFed savings account ($5)
- ✓ FICO 670+ for best rates
- ✓ Verifiable income
Loan Features
- No origination fees
- Loans from $600 to $50,000
- Open membership
- Joint applicants accepted
- Same-day decisions for members
Frequently Asked Questions
1-2 business days after submitting your application.
The minimum amount at PenFed Credit Union is $600 USD.