What is PenFed Credit Union?

PenFed Credit Union is a financial institution that serves members of the military, government employees, and their families. They offer a wide range of products and services, including checking and savings accounts, auto and home loans, and credit cards.

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Introduction

PenFed Credit Union is one of the largest credit unions in the United States with over 1.6 million members and $23 billion in assets. Headquartered in Alexandria, Virginia, PenFed is a not-for-profit credit union that offers a full range of financial products and services to its members.

PenFed was founded in 1935 as the War Department Federal Credit Union to serve employees of the U.S. Department of War (now the Department of Defense). Inareded 1955, the credit union changed its name to Pentagon Federal Credit Union to better reflect its expanding membership base. Today, PenFed serves anyone who is eligible for membership in the Armed Forces, Department of Defense, Veterans Affairs, National Guard, and their families.

In addition to its wide array of banking products and services, PenFed also offers insurance, investment, and retirement products to its members. PenFed has been consistently ranked as one of the top performing credit unions in the country and has received numerous awards for its outstanding customer service.

History

PenFed Credit Union, commonly referred to as PenFed, is a United States credit union headquartered in Alexandria, Virginia. The credit union was founded in 1935 as the War Department Federal Credit Union and later renamed as Pentagon Federal Credit Union, before adopting its current name in 2013. PenFed is one of the largest credit unions in the United States with over $25 billion in assets and serves over 2 million members worldwide.

PenFed offers a wide range of financial products and services for its members, including checking and savings accounts, loans and credit cards. PenFed is a not-for-profit organization that is owned by its members and operated for their benefit. The credit union offers competitive rates on its products and services and provides financial education resources to help its members make sound financial decisions.

Locations

PenFed Credit Union has over 2 million members and more than $23 billion in assets. It’s the second largest credit union in the United States and has branches in all 50 states and the District of Columbia.

PenFed offers a wide range of banking products, including checking and savings accounts, auto loans, mortgages, credit cards, and personal loans. It also has a wealth management division that offers investment advisory services, trust services, and insurance products.

You can become a member of PenFed Credit Union if you work or live in certain geographical areas, are a member of certain organizations, or are related to someone who is already a member.

Products and Services

PenFed Credit Union is a not-for-profit financial institution serving over 1.6 million members worldwide. They offer a full range of financial products and services including checking and savings accounts, credit cards, auto loans, home loans, personal loans, business loans, and more. PenFed Credit Union is headquartered in Alexandria, Virginia and has branches in multiple states and countries.

Membership

In order to join PenFed Credit Union, you must first become a member of the National Military Family Association or the Voices for America’s Troops. You can also become a member if you are an employee of the US Department of Defense, select companies, or a relative of someone who is already a member. Once you become a member, you will be eligible to open up a savings account with PenFed Credit Union.

FAQ

What is PenFed Credit Union?

PenFed Credit Union is a credit union that offers banking, loans, and other financial services to its members. Membership is open to anyone who meets the membership requirements, which vary depending on the type of account you open.

What are the benefits of belonging to PenFed Credit Union?

Some of the benefits of belonging to PenFed Credit Union include access to competitive rates on loans and other financial products, as well as discounts on services such as roadside assistance and travel insurance. In addition, members have access to a nationwide network of over 30,000 surcharge-free ATMs.