Pentagon Federal Credit Union is still running their long term certificates of deposit and offer the best interest rates possible at 3.50% APY for a three year term.

They also have 4-year deal with cd rates running at 3.75% APY. The 5- and 7- year term has the top rates at 4.00% APY. These rates may change any time so it will be best to call the bank before you sign up for anything.

The top cd rates can also be enjoyed as traditional or Roth IRA or as education savings certificate. Some of the account holders have shared their experience of being offered by the bank a 0.25% if the renew the matured CD.

People can open a certificate of deposit account online. If you are not in the service or do not qualify based on family or employer, you can still enjoy the best cd rates by joining the NMFA or the National Military Family Association. If you are a volunteer of employee of the Red Cross, you are eligible to sign up for the PenFed.

NMFA collects an annual membership fee of $20. People can sign up immediately for the PenFed after joining the NMFA. Membership to the NMFA does not need to be renewed to continue enjoying the benefits of being a PenFed member.

If you are not comfortable doing everything online, Pentagon Federal Credit Union has offices in several states including Texas, Missouri, Puerto Rico, Hawaii, North Carolina, Colorado, New York, New Jersey, Virginia, Maryland, and Washington DC.

PenFed has a hefty asset amounting to $13 billion. It is covered by the NCUA under charter # 227.