Pentagon Federal Credit Union

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PenFed
Type Credit union
Industry Financial services
Founded 1935
Headquarters Alexandria, Virginia, United States
Number of locations 22
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 Jim Quinn, Board of Directors Chairman
James Schenck, President
Products Savings; checking; consumer loans; mortgages; credit cards; investments
Website penfed.org

Pentagon Federal Credit Union, also known as Pentagon Federal or PenFed, is a 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 $15B (February 2011) and approximately 1 million members.

In addition to savings and checking accounts and loans, it also offers credit cards[1] and other financial services.

Membership[edit]

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:

  • Active duty, reserves, or Retired from the U.S. Army, Air Force, Coast Guard, National Guard, ROTC (Advanced Cadets)
  • Members of the U.S. Coast Guard Auxiliary
  • Members of the Veterans of Foreign Wars of the United States (VFW)
  • Civilians employed by, or retired, Department of Defense, Homeland Security, Army, Air Force
  • Pentagon building employees
  • Employees of the Transpotomac Plaza or Canal Center in Alexandria, VA
  • Individuals who are assigned to, work at, or receive benefits from, any defense or military-based institution
  • Family members of those in the field of membership, including: grandparents, parents, spouse, siblings, children (including adopted, foster and stepchildren), grandchildren, and household members
  • Family members and employees of Pentagon Federal Credit Union itself
  • National Military Family Association members
  • Military Officers Association of America members
  • Reserve Officers Association members
  • Employee or volunteer of the American Red Cross

Competition[edit]

Pentagon Federal is among a few financial services companies which specialize in serving the military—it competes with other military credit unions, like Navy Federal Credit Union, as well as with some large banks including Bank of America-Military Bank and USAA.

Locations[edit]

Branches are located in the Washington, D.C. area; Hawaii; New York; North Carolina; Texas; and at military bases in Guam, Japan, Portugal, Puerto Rico and Turkey.

Pentagon Federal operates three call centers, including Omaha, Nebraska,[2] Eugene, Oregon, and Puerto Rico.

In 2003, Pentagon Federal joined Allpoint, a surcharge-free network of automated teller machines.[3]

References[edit]

External links[edit]