Philadelphia Federal Credit Union (PFCU) Review 2024

Philadelphia Federal Credit Union logo

Philadelphia Federal Credit Union

7.3 rating

Expert Take

Although PFCU does limit its membership to select employer groups and Philadelphia-area residents, it’s still a solid financial institution with a good range of products and services that meet the average consumer’s full banking needs.


  • Variety
  • Affordability
  • Transparency
  • Competitive rates


  • Limited locations
  • Numerous bank fees
  • Limited customer service availability

Bonus Offers


Product Variety


Customer Experience


Interest-Bearing Accounts




Free ATM Access


Philadelphia Federal Credit Union logo

Learn More


Philadelphia Federal Credit Union (PFCU) offers a range of free and low-fee deposit accounts and ongoing member bonuses. Members appreciate the credit union’s community involvement, personalized customer service, and attractive APY rates on CDs, MMAs, and auto loans.

Like most credit unions, however, PFCU doesn’t have the same scope of products and advanced technology as larger financial institutions. Additionally, it has limited customer service hours and very few branch locations.

What Is PFCU?

Founded in 1951, the Philadelphia Federal Credit Union was established to meet the financial and banking needs of Philadelphia municipal employees. That mission continues today, although the PFCU serves a broader community.

PFCU serves the owners, employees, and directors of more than 400 organizations throughout Pennsylvania, Delaware, and New Jersey. The credit union manages over $1 billion in assets from its more than 116,000 members.

PFCU offers five (5) checking account options, deposit savings, money market accounts (MMAs), personal loans, recreation loans, investment services, retirement planning, debt consolidation, and a number of products designed for children and students.

PFCU: Checking Accounts

Philadelphia Federal Credit Union offers consumers five checking account options.

1. PFCU Checking

A completely fee-free checking account, there are no requirements for opening deposit, minimum balance, or monthly fees. This account also offers free monthly statements, a PFCU check card with cash-back purchase rewards, online bill payer, and remote eDeposits through the PFCU mobile app.

The account is open to all members 18 or older, or members aged 13 to 17 who open an account with a joint owner at a branch location.

2. Kasasa Cash Back Checking

A rewards checking account, Kasasa Cash Back Checking account holders can earn 2% cash back on all debit card purchases with no category restrictions.

To qualify for the cash-back rebates, account holders must make at least 12 qualifying debit card purchases per statement cycle, enroll in eStatements, and enroll in Teller Net or the PFCU mobile app.

The account is open to members 18 or older. There are no minimum requirements for opening deposits or minimum balances, and the account has no maintenance or other monthly fees.

3. Kasasa Tunes Checking

The Kasasa Tunes Checking account offers members entertainment-back rewards for purchases from iTunes, Amazon, and Google Play. Account holders get up to $10 in refunds every month for iTunes, Google Play, and purchases.

An increased rebate of $15 is offered during the first month. To qualify for the monthly reward, account holders must be enrolled in online banking and eStatements and complete at least 12 debit card transactions per statement cycle.

4. PFCU Better Checking

An interest-bearing checking account, PFCU balances of at least $1,000 earn a variable rate APY. Interest is calculated and compounded daily, and then paid out on the last day of each month.

APY rates range from 0.10% to 0.20%. A minimum $5,000 balance is required to get the higher-tiered rate.

The account does have a $5 monthly fee, but the fee is waived for maintaining a minimum balance of $1,000. Additionally, there are no upfront minimum deposit requirements.

This checking account is open to members aged 18 or older. Members aged 13 to 17 can open a PFCU Better Checking from a branch location with an eligible co-signer.

Beyond interest, other account perks include free monthly statements (paper statements and eStatements), mobile and ATM deposits, free copies of canceled checks, and a free first box of checks.

5. PFCU Senior Checking

Designed for seniors aged 50 or older, PFCU Senior Checking is structured similarly to PFCU Better Checking, except a minimum of only $500 is required for the account holder’s balance to earn interest.

No upfront minimum deposit is required to open an account, but members must be at least 50. The checking account has a $5 monthly maintenance fee, but PFCU will waive the fee for maintaining a balance of at least $500.

An account holder’s account earns an APY of 0.10% to 0.20%. To get the higher-tiered interest rate, a minimum balance of $5,000 is required. Interest is compounded daily and credited monthly to accounts.

This account comes with free retirement and long-range planning consultation with PFCU Services, LLC, free monthly statements (paper copy sent via postal mail and electronic), a free first box of checks, free copies of canceled checks, and other member perks.

PFCU: Savings Accounts

Philadelphia Federal Credit Union offers three deposit savings account options.

1. Regular Savings

All members start out with a Regular Savings account as their primary account at PFCU. An initial deposit of $5 serves as your member ownership stake in the credit union.

Balances of $50 or greater earn interest at a 0.20% APY. Interest is compounded daily and credited monthly on the last business banking day of each month.

2. Higher Yield Savings

A Higher Yield account is a step up from Regular Savings. There are no monthly fees and no minimum balance requirements. Balances of $2,000 or greater earn a tiered APY ranging from 0.30% to 3.25%. As with other deposit accounts, dividends are compounded daily and then credited monthly to the account.

3. Holiday & Vacation Club Savings

Also referred to as a Christmas Club account, PFCU’s Holiday & Vacation Club Savings offers members to save money all year for a larger financial goal. There are no minimum deposit or balance requirements.

Unlike most other credit union and bank club savings accounts, PFCU’s offering has no fees for withdrawals and pays interest for balances of $50 or greater. An APY of 0.20% is paid out, compounded daily, and credited monthly to your account.

PFCU: CD Accounts

PFCU offers certificate of deposit (CD) accounts, which they refer to as Savings Certificate accounts (SCAs) on their website.

A savings certificate offers consumers a secured way to earn a guaranteed rate of return for their investment that’s based on current market rates and the terms, and length of time, they set aside their funds in the certificate.

To open a CD at PFCU, a minimum deposit of $250 is required. CD terms range from three months to five years, and APY rates range from 0.91% to 5.25%.

A $250 minimum is required to open a 3-month or 6-month CD. For all other terms, a minimum deposit of $500 is needed.

PFCU does not offer no-penalty, early-withdrawal CDs. Funds must remain in the CD until maturity, the end of the CD’s terms, to earn the APY rate and avoid any withdrawal penalties.

PFCU: MMA Account(s)

In addition to CDs and deposit accounts, PFCU also offers money market accounts (MMAs) for consumers with high daily balances who want a higher-balance alternative to traditional checking accounts.

A minimum balance of $2,500 is required. Balances below that amount will incur a $5 monthly account maintenance fee, although balances as low as $50 will earn a 0.30% APY. Balances of $2,500 or higher earn a tiered APY rate ranging from 0.40% to 1.25%.

The MMA comes with a first free box of checks, however, PFCU does limit how withdrawals and deposits may be made (via electronic direct deposit or in person). Additionally, funds are not accessible via ATM and only six (6) withdrawals are permitted per month.

Additional Products

Beyond PFCU’s deposit, savings, CD, and money market accounts, it offers a wide range of other financial products and services.

  • Real estate and home loans (mortgage, home equity loan, and home equity line of credit)
  • Health savings accounts (HSAs)
  • Specialty accounts (trust, estate, IOLTA, custodial)
  • Debt consolidation services and financial counseling
  • Car loans
  • Recreational loans (RV, boat, motorcycle)
  • Personal loans and unsecured lines of credit
  • Credit builder loans
  • Visa credit cards
  • Business banking (checking, savings, loans, cashflow, payment processing)
  • Individual retirement accounts (IRAs)
  • Coverdell Education Savings accounts
  • Retirement planning
  • Investment services and financial planning
  • Student loans and student scholarships
  • Youth savings programs
  • Insurance (home, renters, auto, GAP, life, pet, business)


  • Branch availability: 11 store locations, 10 in Philadelphia and one (1) in Bloomsburg, Penn.
  • ATM availability: PFCU ATMS at all 11 branches and six (6) off-site ATM locations throughout Philadelphia. Additionally, members have fee-free ATM access to the credit union CO-OP Network of over 25,000 ATMs nationwide.
  • Highly-rated mobile app: PFCU app has very high user marks, with an overall rating of 4.8 stars on iTunes and a 4.7-star rating on Google Play.
  • Innovative and competitive products: PFCU offers attractive rates for its CDs, MMAs, checking, and savings accounts with affordable minimums to earn higher-tier APYs and unique rewards like cash back for and iTunes purchases.
  • TellerPhone Banking: PFCU offers teller or phone banking for transfers, withdrawals, payments, and other similar services. Helpful to many consumers as many other banks move toward digital-only, non-branch support and are limiting or discontinuing phone banking services.
  • Online Banking: Secure, online banking is offered to all PFCU members through Teller Net.

Pricing and Fees

As with all financial institutions, Philadelphia Federal Credit Union does have a fee schedule for various charges and different services offered.

Here are some of the more noteworthy charges, most commonly impacting consumers, to be aware of.

  • Money Market Account: There is a $5 monthly fee for MMAs if the balance falls below $2,500.
  • Better Checking and Senior Checking Accounts: There is a $5 monthly account maintenance fee if the balance falls below the daily minimum requirement. The minimums are set at $1,000 for Better Checking and $500 for Senior Checking.
  • Expedited Bill Pay: Online bill pay is free, but there is a $15 fee per payment for any expedited payments.
  • Skip A Payment: For a series of payments, there is a $30 fee payment skip.
  • Non-Sufficient Funds: If your account lacks sufficient funds to cover an ACH, debit, or other withdrawal, a $28 NSF fee will be imposed. The fee is $28 per item.
  • Overdraft Privilege: If your account is overdrawn or lacks the funds to cover a transaction and PFCU covers the item for you, there is a $28 overdraft fee per item.
  • Check Cashing: PFCU charges a fee for any checks cashed. The fee is $5 per check for members or $10 per check for non-members.
  • Check Copies: There is a $3 fee per check copy.
  • Stop Payment: PFCU charges a stop-payment fee of $10 per check, $15 per ACH transaction, or $12 for a series of checks.
  • Wire Transfer: There is a $25 fee for all outgoing, domestic wire transfers. For international wires, talk to a PFCU rep.
  • Debit Card or ATM Card Replacement: There is a $10 fee for any card replacement. An excessive card replacement fee of $15 is charged for three (3) or more card replacements within two (2) years.
  • ATM: There are unlimited, free withdrawals at PFCU ATMs. For non-PFCU transactions, there is a $1 charge per ATM withdrawal or POS transaction after the first 15 transactions per month. The first 15 are free.
  • Money Orders: PFCU charges $2 per money order. MOs are issued in-branch only.
  • Certified Checks: There is a $1 fee per certified check.
  • Member-to-Member Transfer: There is a $2 per transaction fee for member-to-member transfers.
  • Visa Gift Card: For Visa gift cards there is a $2.95 fee.
  • Visa International Fee: There is a 1% international transaction fee for any transactions processed by a merchant located outside of the United States.
  • Dormant Account Fee: For dormant accounts, PFCU charges a fee of $15 per month. This is for accounts inactive for over 12 months with a balance of less than $500.

Membership Eligibility Requirements

To join the Philadelphia Federal Credit Union (PFCU), you must meet membership requirements.

  • Be a current or retired employee of the City of Philadelphia Non-Uniformed Employees, Related Agencies, Authorities & Corps.
  • Be a current or retired employee of one of PFCU’s Select Employee Groups (SEG).
  • Be an immediate family member or reside with a current PFCU
  • Live, work, worship, or attend school in Philadelphia or Columbia County, Pennsylvania.

Getting Started

If you meet the eligibility requirements and wish to become a PFCU member, there are three (3) easy ways to get started.

  • Call 1-800-832-PFCU
  • Apply online on the PFCU website.
  • Visit a credit union branch.

The process takes 5-15 minutes online. Applicants must have their driver’s license number (or other government-issued ID), Social Security number (SSN), and funds to make the minimum deposit of their new PFCU account.

You can fund your account with a credit card or ACH deposit from an external checking or savings account. Even if you are opening a fee-free account, new members are required to open and fund a Regular Savings account which requires $5.


PFCU regularly offers new and existing members promotions and special savings.

  • New Checking Account: Get $50 for opening a new checking account, enrolling in eStatements, and setting up a qualifying ACH payroll direct deposit of at least $100.
  • Set Up Bill Payer: Earn a $50 reward for enrolling in Bill Payer and paying bills that total at least $100.
  • New Auto Loan: Earn a $100 reward for applying for and receiving a new auto loan of at least $7,500 for a new or used vehicle. Auto refinance loans also qualify.


Banking with PFCU is extremely secure. All PFCU consumer deposits up to $250,000 are insured by the NCUA, an insurance program for credit union account holders similar to FDIC insurance offered to bank customers.

In terms of account and data security, PFCU uses many security resources to protect customers from identity theft and common forms of fraud. This includes a Security Resources hub for members, encryption, MFA, and various other tools and technologies.

Customer Support

PFCU offers customers several ways to receive agent support.

  • Phone: Call (215) 934-3500 or toll-free (800) 832-PFCU. Agents are available on weekdays from 8 a.m. to 6 p.m. and on Saturdays from 8:30 a.m. to 2 p.m.
  • Chat: Live Chat support is offered on the PFCU Member service representatives are available on weekdays from 9 a.m. to 4 p.m. and on Saturdays from 9 a.m. to 1 p.m.
  • Email: Send email correspondence to or For mortgage lender inquiries, email
  • Web form: Send an electronic message via the PFCU Member Feedback web form.
  • Mail: Send written correspondence to 12800 Townsend Road, Philadelphia, PA 19154.

Customer Reviews

Here’s a sampling of reviews from actual PFCU members.

We have been w PFCU for over 7 years. They make banking easy. They always have your back and excellent customer service. Smaller CU’s rock 🤘
Kristina B. Google

I love Philadelphia Federal Credit Union, the fact that they care about their customers more then making profit should say it all. Customer service raps are always super friendly, every time I come here is like seeing my friends and family, just can't get that feeling anywhere else. Their products such as loans, savings accounts always offers better deals then other banks.
Annie L. Google

Lately I have had mixed feelings working with Philadelphia Federal Credit Union. I have investments with a couple different banks and...funds here and there...and was hoping PFCU...could help consolidate my money. The help I the past few months isn't groundbreaking and we're having trouble rolling an old IRA over, so I'm on the phone with them a lot.
Maddie W. Google

Pros and Cons

Here’s a quick rundown of the pros and cons of banking with PFCU.


  • Variety: Offers an excellent range of checking and savings deposit account options, with members able to select cash back, interest, or other reward options. This includes interest-bearing checking accounts for students (under age 18).
  • Transparency: PFCU is exceptionally transparent in its rates and schedule of fees; both are clearly and prominently displayed on its website.
  • Competitive rates: Attractive rates offered for the credit union’s CDs, MMAs, deposit accounts, and other products — rates that are better than are competitive with the best rates nationwide.
  • Affordability: PFCU has many free deposit accounts and rewards that are affordable to most consumers. This includes CDs starting at $300 or access to high-tier interest rates for balances starting at $2,500 or $5,000.


  • Limited locations: Only 11 branch locations and all are in Philadelphia or Columbia County, Penn.
  • Limited customer service availability: Customer support is only available during weekday business hours and Saturday mornings.
  • Numerous bank fees: PFCU has no fee-free overdraft protection and a long schedule of fees, including fees to transfer funds to other members. Mobile banking app lacks Zelle integration which is common with other financial institutions.

Alternatives to PFCU

In addition to the Philadelphia Federal Credit Union, here are some other banking options to consider if you live in the Philadelphia area.

First National Bank (FNB)

First National Bank is another hometown bank. It has headquarters in Pittsburgh and a large footprint throughout the state with hundreds of locations in Pennsylvania. FNB also has branch locations in OH, MD, WV, NC, SC, VA, and DC.

In addition to the convenience of more branch locations, FNB also has other perks PFCU does not have: free mobile check deposits, integrations with Zelle, and accounts with no overdraft fee charges.

PSECU Credit Union

Another Pennsylvania-area credit union, the Pennsylvania State Employees Credit Union has three (3) locations in the Harrisburg area. While it has fewer branches than PFCU, the PSECU has a similar range of rates and products. The PSECU does offer better promotions, and Zelle app integrations, and has easier membership requirements where even out-of-state residents with no connection to existing members can join.

PNC Bank

Based out of Pittsburgh, Penn., PNC Bank has over 400 locations throughout the state including 98 in Philadelphia. In addition to its convenient branch accessibility, PNC offers a wider range of products, Virtual Wallet Banking packages, ATM fee reimbursements, Zelle, no NSF fees, and overdraft fee forgiveness.

Frequently Asked Questions

Here are some of the most common FAQs that members have about banking with the Philadelphia Federal Credit Union.

How much does it cost to open an account with PFCU?

PFCU stresses that it is completely free to open an account, but it does end up costing $5 to join. The credit union does offer three (3) fee-free checking accounts with no opening deposit or minimum balance requirements. But to become a member of PFCU, you must have a Regular Savings account which requires a $5 initial deposit.

How can I transfer money from PFCU to another bank?

PFCU members can transfer funds to another bank by visiting, logging into Teller Net, and then selecting Transfer link.

You’ll need to verify the account verification process, confirming you own the designated account at the external bank or financial institution. Then, you’ll be able to make online transfers.

Do credit unions help credit scores?

Joining PFCU or any other credit union won’t build your credit score in and of itself, but it can be a powerful step in building or repairing your credit.

In general, credit unions tend to be more willing to work with consumers who have damaged credit in terms of opening accounts, more favorable loan rates, and secured credit card options. Positive payment history is reported to credit bureaus, which does help your score.

For consumers in credit-repair mode, PFCU offers two (2) secured credit card options, Credit Builder loans, Share Secured loans, and consumer debt consolidation services.

Is PFCU Best for Your Needs?

If you meet the membership requirements, then Philadelphia Federal Credit Union could be an outstanding fit. The credit union boasts an excellent line-up of free, high-interest-bearing consumer products for checking, savings, CD, and money market accounts.

PFCU’s APY rates are among the most competitive you’ll find anywhere nationwide, and the balance requirements to get top-tier rates are actually accessible for most consumers. These minimum balance requirements start at $2,500, whereas many other institutions require balances of $50,000 to $100,000 or higher to unlock similar APY rates.

While PFCU has a good line-up of products at stellar rates, PFCU does have a lengthy schedule of fees including overdraft, NSF, funds transfer, and check cashing.

But if you generally avoid overdrafting your account and do not need physical branch locations, the PFCU deserves strong consideration in your search for a new financial institution.

Our Methodology

The BankBonus team has analyzed dozens of banks to provide our readers with thoroughly informed and accurate reviews.

We evaluate digital financial platforms, online banks, regional banks, and national banks across several metrics.

Our assessment of each bank factors in these considerations:

  • Product lineup: We review the types of accounts, loans, and services offered by each bank, as well as the number of accounts.
  • Fees and pricing: We also consider each institution’s fees, including monthly maintenance fees and other service charges.
  • Account features: To compare banks, we take a close look at the features, limits, and capabilities each one has to offer.
  • Interest: Along with these features, we consider whether or not the bank offers interest-bearing accounts and compare their rates to industry averages.
  • Brand reputation: The bank accounts we recommend have been carefully vetted to ensure they are legitimate, secure, and backed by FDIC insurance.
  • User experience: Additionally, we consider the ease of use and availability of resources on each bank’s website and factor in reviews of the mobile app from the Apple App Store and Google Play Store.
  • Branch and ATM access: To gauge convenience, we also look at each bank’s branch and ATM availability and consider their ATM reimbursement policies.
  • Customer service: In our review process, we also explore banks’ customer service channels, hours of availability, and third-party reviews.

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