PenFed Business Account: A Guide for Non-Governmental Organizations

PenFed Business Account – Looking for a way to manage your non-governmental organization’s finances?, you may want to consider opening a PenFed business account. PenFed is a credit union that offers various products and services for personal and organizational members, such as checking, savings, certificates, loans, credit cards, and more.

In this article, we will explain how to establish an organizational account with PenFed, what benefits it offers, and what requirements you need to meet.

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How to Establish an Organizational Account with PenFed

To open a PenFed business account for your non-governmental organization, you need to follow these steps:

  1. Select and complete one of the following membership applications based on the desired account type:
    • Regular Share: Organizational Membership Application (Form 20-ORG)
    • Premium Online Savings (online access only): Premium Online Savings Account and Membership App for Organizational Account (Form 220-ORG)
  2. Complete the Certification Regarding Beneficial Owners of Legal Entity Customers (Form 37-ORG) (included in 20-ORG and 220-ORG applications).
  3. Complete the Resolution by Organization to Conduct Business with PenFed ( Form-652) (included in 20-ORG and 220-ORG applications).
  4. Select and complete additional, optional forms to apply for secondary accounts:
    • PenFed Access America Checking Account Application for Organizational Accounts (Form 151-ORG)
    • PenFed Money Market Savings Account (MMSA) Application for Organizational Accounts (Form 400-ORG)
    • PenFed Money Market Certificate Application for Organizational Accounts (Form 688-ORG)
  5. Submit the following additional paperwork:
    • Articles of Incorporation or Certificate of Organization document from the Organization.
    • Organization confirmation letter. The letter can be a copy of the meeting minutes indicating authorization to open the account. If it is a military, church, or larger charitable organization, the letter must provide permission to open the organization account in the organization’s name.
    • IRS assignment of TIN letter
    • A Photo ID, or unexpired government-issued ID for each signer who is not a PenFed member. Existing members do not need to submit a photo ID, unless the name on the application does not match the PenFed membership, or there is an existing hold on the account for an identification mismatch.
  6. Review the forms for accuracy, sign, and date them.
  7. Upload the completed forms to PenFed.org/secureupload.

Benefits of PenFed Business Account

By opening a PenFed business account for your non-governmental organization, you can enjoy the following benefits:

  • Access to competitive rates on savings, certificates, loans, and credit cards
  • No monthly fees or minimum balances on checking and savings accounts
  • Over 85,000 fee-free ATMs nationwide
  • Online and mobile banking with secure and simplified login
  • Member service and support from a credit union that puts your needs first

Requirements for PenFed Business Account

To be eligible for a PenFed business account, your non-governmental organization must meet the following requirements:

  • It must be a non-governmental club or organization that is not-for-profit or charitable in nature
  • It must have a valid Tax Identification Number (TIN) issued by the IRS
  • It must have at least one signer who is a PenFed member or eligible for membership
  • It must provide all the necessary documents and forms as listed above

How to Manage Your PenFed Business Account

Once you have opened a PenFed business account for your non-governmental organization, you can manage it easily and conveniently from any device. Here are some tips on how to manage your PenFed business account:

  • Log in to your PenFed online account from this link. You can use the same username and password as your personal account if you have one. If you don’t have an online account yet, you can register from this link.
  • See your new PenFed online experience in action. You can access a streamlined view of all your accounts, select any account to dive deeper, use quick navigation, view your statements, use Zelle® to send and receive money, and more. You can also find helpful guidance and FAQs from this link.
  • Manage all your accounts in one place. You can see your total assets, loans, and deposits by ownership, your account details like routing number, account number, owners and beneficiaries, and your messages from the dashboard. You can also transfer funds, pay bills, apply for loans or credit cards, and more from the menu.
  • Contact PenFed for support or feedback. If you have any questions or issues with your PenFed business account, you can contact PenFed by phone, email, chat, or mail from this link. You can also visit a branch or ATM near you from this link.

How to Access Your PenFed Business Account Online or Mobile

You can access your PenFed business account online or mobile anytime, anywhere. Here are some tips on how to access your PenFed business account online or mobile:

  • To access your PenFed business account online, go to PenFed.org and click login in the upper-right corner of the screen. Type your username and password and click Log In. If this is your first time logging in with a new device, you may be asked to enter a verification code. You can use the same username and password as your personal account if you have one. If you don’t have an online account yet, you can enroll from this link.
  • To access your PenFed business account mobile, download the PenFed mobile app from the App Store or Google Play. Log in with your username and password or use Fingerprint Login, Face Unlock, or Pattern Login if you have set them up. You can track your spending, deposit checks, pay bills, transfer funds, apply for loans or credit cards, and more from the app.
  • If you need help logging in, have forgotten your username or password, or are locked out of your PenFed online or mobile account, see this link for assistance. You can also contact PenFed by phone, email, chat, or mail from this link

How to Contact PenFed for Support or Feedback

Any questions, issues, or suggestions regarding your PenFed business account, you can contact PenFed for support or feedback in various ways. Here are some tips on how to contact PenFed for support or feedback:

  • Contact Us Form: You can schedule a call or request support from an available agent using the Contact Us form. You can select a topic, enter a subject line, write a brief description, enter your name and email, and choose your preferred contact method and time. An agent will email you or call you during the time frame you prefer.
  • Chatbot and Live Chat: You can try the chatbot as a quick way to get information and directions for common tasks like checking balances, uploading documents, or making payments. You can also chat with a live agent if you need more assistance. To start a chat, click the Need Help? prompt in the lower-right corner of the Help Center. Enter your name and email and click Start Chatting. Select from the menu options or type your question into the box to start the conversation.
  • Phone: You can contact PenFed by phone using one of the following numbers during their normal hours of operation:
    • General Member Service: US Toll-Free: 1-800-247-5626; US Main: 724-473-6333
    • TTY (for the hearing impaired): 1-800-225-6378 or 541-225-6801
    • Hours: Monday through Friday 7:00 AM to 11:00 PM EST; Saturday: 8:00 AM to 11:00 PM EST; Sunday: 9:00 AM to 5:30 PM EST
  • Email: You can also email PenFed at info@penfed.org for general inquiries or feedback. For security reasons, do not include any personal or account information in your email.

Contacting PenFed for support or feedback is easy and convenient with the various options available. You can reach out to PenFed by phone, email, chat, or online form and get the help or information you need.

In conclusion, the PenFed business account is a great option for non-governmental organizations that want to manage their finances with ease and convenience. By opening an organizational account with PenFed, you can access various products and services that suit your needs and goals, such as checking, savings, certificates, loans, and credit cards. You also get to enjoy no monthly fees or minimum balances on checking and savings accounts, competitive rates on savings, certificates, loans, and credit cards, over 85,000 fee-free ATMs nationwide, online and mobile banking with secure and simplified login, and member service and support from a credit union that puts your needs first. To open a PenFed business account for your non-governmental organization, you need to complete and submit the required forms and documents as explained above. You can find more information and download the forms from PenFed.org/secureupload.