PenFed Announces New Affinity Relationship with the American Medical Association

Newly forged relationship gives AMA members access to an extensive selection of financial products

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Aug 14, 2012, 02:35 ET

ALEXANDRIA, Va., Aug. 14, 2012 /PRNewswire/ -- Today, PenFed (Pentagon Federal Credit Union) and the American Medical Association (AMA) announced that PenFed is a preferred provider of select financial products for AMA members.

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For AMA members interested in joining the credit union, PenFed will open courtesy membership accounts, which will allow AMA members to apply for a suite of PenFed products such as exclusive, custom-branded credit cards.

"It is my pleasure to welcome AMA members to our organization," stated James Schenck, Executive Vice President, PenFed. "I believe that our financial products are some of the best available in the marketplace today. As such, we are proud to make them available to an outstanding group of medical professionals."

"PenFed is one of the largest credit unions in the nation, and AMA members can benefit from their excellent reputation for customer service and quality. We are proud to add PenFed as a provider in the AMA Member Value Program," said AMA Senior Vice President of Publishing and Business Services, Robert Musacchio, Ph.D. "The AMA's Member Value Program provides excellent resources and savings that are useful to physicians and their practices."

As a result of the new relationship with PenFed, AMA members will have access to the following:

PenFed's new and used automobile loans, checking/savings accounts and other personal loans.

AMA members will also have access for one of three competitive credit cards programs:

AMA PenFed Premium Travel Rewards American Express® Card
AMA PenFed Visa® Promise Card
AMA PenFed Visa ® Platinum Cash Rewards Card

All three credit card programs will allow cardholders to enjoy highly, competitive features such as low purchase annual percentage rates (APRs).

The AMA PenFed Premium Travel Rewards American Express® Card is a valued asset to those who frequently travel. The financial services, education and news website Credit.com recently named the Premium Travel Rewards American Express® Card as the "Best Travel Rewards Credit Card in America," citing its generous rewards program and low purchase APR as key differentiating features.

For AMA members who prefer to earn cash rewards, the AMA PenFed Visa ® Platinum Cash Rewards Card is among the best in the marketplace. The Platinum Cash Rewards Card is known for its rich value proposition and ease of use since cash rewards are automatically credited back to the cardholder's account at the end of each billing cycle period as a statement credit with no cap on earnings.

The AMA PenFed Visa® Promise Card will appeal to AMA members who are interested in a simple card that carries no fees and a low introductory purchase APR.

PenFed's auto lending program combines value and quality, offering some of the lowest rates in the marketplace. Financing is available for new autos up to 100 percent of the Manufacturer's Suggested Retail Price (MSRP) which includes title, taxes and tags. For used and refinanced vehicles, financing is available up to the National Automobile Dealers Association (NADA) bluebook value of the vehicle.

For more information about PenFed, visit PenFed.org or call 800-247-5626.

About PenFed (Pentagon Federal Credit Union)
Established in 1935, PenFed is one of the largest credit unions in the United States with over a million members and more than $15 billion in assets. PenFed provides an extensive selection of financial products to its members worldwide. Its core membership includes the Department of Defense, Army, Marine Corps, Navy, Air Force, and Coast Guard; Department of Homeland Security personnel, employees or volunteers of the American Red Cross, numerous military associations, and many others. PenFed is federally insured by the National Credit Union Administration and is an equal housing lender.

About the American Medical Association (AMA)
The American Medical Association helps doctors help patients by uniting physicians nationwide to work on the most important professional, public health and health policy issues. The nation's largest physician organization plays a leading role in shaping the future of medicine. For more information on the AMA, please visit www.ama-assn.org.

Disclosures: Offers current as of August 1, 2012 and are subject to change. Federally Insured by NCUA.

This credit card program is issued and administered by PenFed. American Express® is a federally registered service mark of American Express and is used by PenFed pursuant to a license. All other trademarks are the property of their respective owners.

SOURCE Pentagon Federal Credit Union