Do I have to get the mortgage my real estate agent suggests?

Do I have to get the mortgage my real estate agent suggests?

If you are shopping for a new home, you’re probably working with a real estate agent to help find the perfect home for your family. And, trying to be helpful, that real estate agent may suggest a lender—or even a specific mortgage product—for you to get to help get you into the home of your dreams. But do you have to follow their recommendations? Read more ›

Posted in: Mortgages & Home Buying

What are UGMA/UTMAs and do I need one for my child?

What are UGMA/UTMAs and do I need one for my child?

Transferring financial securities to your kids for college can get tangled in all sorts of legal strings when they are still minors. Minors in most states do not have the right to make contracts; which blocks them from owning stocks, bonds, mutual funds, life insurance policies, and annuities.

But if you’d like to transfer this type of asset to your children without the hassle and expense of a complex trust arrangement, you can use a Uniform Gift to Minors Act (UGMA) or Uniform Transfer to Minors Act (UTMA) custodial account. Read more ›

Posted in: Personal Finance, Saving Money

7 Reasons to Like PenFed on Facebook

7 Reasons to Like PenFed on Facebook

What sort of nonsense is liking a financial institution on Facebook — isn’t Facebook just for keeping track of friends? The fact is, PenFed can pass along plenty of benefits when you connect with us on Facebook. Savvy members know it is smart to like PenFed on Facebook. Read more ›

Posted in: Announcements, Credit Unions, Personal Finance

New PenFed Benefit! Did you know you can now access your FICO® Score on PenFed Online?

New Feature on PenFed Online Banking Site Provides Free Access to ‘FICO® Score’ to Eligible Members

What are FICO® Scores? How do they impact my ability to get a loan or establish credit with a financial institution? How do I find out what my FICO® Score is? Where can I go to get my score? Is there a fee to obtain this information?

We have all heard the term FICO® Score used at some point in time and we may have even wondered what the term means, or if it’s even relevant to our lives—and if it is, how it impacts us from a financial standpoint.

Read more ›

Posted in: Announcements, Personal Finance

Choose a rewards card that rewards your lifestyle


These days, smart shoppers choose their credit cards with more than interest rates in mind —fringe benefits are the name of the game. The right rewards card can prove a valuable asset to your lifestyle, whether you’re reaping day-to-day benefits like cash back on gas purchases or enjoying travel discounts when it’s time to jet out on vacation. Don’t accept the first credit card offer you see, or you could find yourself accumulating rewards that don’t suit you at all. Read more ›

Posted in: Credit Cards, Personal Finance, Travel

PenFed Platinum Rewards Visa Signature Card