PenFed, also known as Pentagon Federal Credit Union, 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 $19B (November 2014) and approximately 1.4 million members.
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:
- Active duty, reserves, veterans and retirees from the U.S. Army, U.S Navy, U.S. Marine Corps, U.S. Air Force, U.S. Coast Guard, National Guard, ROTC (Advanced Cadets)
- Members of the United States Coast Guard Auxiliary
- Members of the Veterans of Foreign War of the United States (VFW)
- Civilians employed by, or retired, Department of Defense, Department of 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
- Employees or volunteers of the American Red Cross
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; 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, Eugene, Oregon, and Puerto Rico.
In 2003, Pentagon Federal joined Allpoint, a surcharge-free network of automated teller machines.
References
External links
- Official website
- National Credit Union Administration
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