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PenFed Credit Union

@penfed.org

PenFed Credit Union offers market-leading mortgages, automobile loans, credit cards and student loans.

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About

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PenFed Credit Union, also known as Pentagon Federal Credit Union, is a financial institution based in the United States. Founded in 1935, it was originally created to serve military personnel at the War Department in Washington, D. C.


Today, PenFed has grown into one of the largest credit unions in the country, with over 2 million members and $25 billion in assets. The headquarters of PenFed Credit Union is located in McLean, Virginia, just outside of Washington, D. C.


The building spans over 270,000 square feet and houses various departments and operations of the credit union. PenFed Credit Union offers a wide range of products and services to its members. These include checking and savings accounts, credit cards, mortgages, auto loans, personal loans, and various investment options.


The credit union is also a provider of home equity loans and lines of credit. PenFed prides itself on offering competitive rates and personalized customer service to best meet the financial needs of its members. In terms of its global operations, PenFed Credit Union primarily serves members within the United States.


However, it does operate several overseas branches, primarily serving military personnel stationed abroad. It also has partnerships with various credit unions in different countries to enhance its international reach. As for its market position, PenFed Credit Union is widely regarded as one of the top credit unions in the United States.


Its strong presence in the military community, competitive rates, and exceptional customer service have contributed to its success. While it may not have a significant global presence compared to larger multinational banks, PenFed Credit Union has maintained its standing as a reputable financial institution within its niche. In recent years, PenFed Credit Union has expanded and diversified its offerings.


This includes the acquisition of the famous high-yield savings platform, PurePoint Financial, in 2019. This strategic move allowed PenFed to further expand its product lineup and reach a broader customer base. As of the most recent information available, PenFed Credit Union continues to grow and adapt to the changing financial landscape.


It remains focused on providing valuable financial services to its members while embracing technological advancements to enhance the overall banking experience

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Company Type

Nonprofit

Company Size

1001-5000

Year Founded

1935

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