Website penfed.org Number of locations 31 | Customer service 00 1 541-225-6700 Founded 1935 | |
 | ||
Area served Air Force, Army, Coast Guard, Department of Homeland Security, Department of Defense, defense-related companies, the Veterans of Foreign Wars and their families Key people Edward B Cody, Board of Directors ChairmanJames Schenck, President Headquarters Alexandria, Virginia, United States CEO James Schenck (1 Apr 2014–) Subsidiaries Energy Federal Credit Union, Coast Guard Federal Credit Union, Members Title Company Of California, Inc. Profiles | ||
Pentagon federal credit union
Pentagon Federal Credit Union, widely known by its abbreviated name PenFed, is a United States federal credit union headquartered in Alexandria, Virginia, chartered and regulated under the authority of the National Credit Union Administration (NCUA). PenFed is the nation's third largest federal credit union, with assets of over $22 billion and approximately 1.5 million members as of March 2017.
Contents
In addition to a variety of loans, savings, and deposit accounts, PenFed also offers credit cards and other financial services.
Membership
As with all credit unions, membership in Pentagon Federal Credit Union is limited to individuals sharing the common bond defined in its credit union charter. The field of membership at Pentagon Federal Credit Union is:
Competition
Pentagon Federal is among a few financial services companies which specialize in serving the military—it competes with other military credit unions, such as Navy Federal Credit Union, as well as with some large banks including Bank of America-Military Bank and USAA.
Locations
Branches are located in the Washington, D.C. area which includes Virginia and Maryland; Florida; Georgia; Hawaii; Nebraska; New Mexico; New York; North Carolina; Texas; and at military bases in Guam, Japan, Portugal, and Puerto Rico.
Pentagon Federal operates three call centers, including Omaha, Nebraska, Eugene, Oregon, and Puerto Rico.
In 2003, Pentagon Federal joined Allpoint, a surcharge-free network of automated teller machines.
In 2017, Pentagon Federal initiated merger talks with Scranton-based Valor Credit Union. Members of the credit union have received ballots to vote on whether their credit union should merge with PenFed. Valor Credit Union reported net losses of $2.4 million and $2.25 million in last year’s second and third quarters which initiated talks of merger with PenFed.