Dec, 31, 2023 — PENTAGON FEDERAL CREDIT UNION (PENFED) is a federal credit union headquartered in MCLEAN, VA with 43 branch locations and about $34.82 billion in total assets. Opened 89 years ago in 1935, PENTAGON FEDERAL CREDIT UNION (PENFED) has more than 2.9 million members and employs 3,136 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | PENTAGON FEDERAL CREDIT UNION |
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Address: (Main Office) | 7940 JONES BRANCH DR MCLEAN, VA 22102 |
Phone: | (571) 341-6706 |
Fax: | (571) 341-6727 |
Website: | https://www.penfed.org |
Branches: | 43 branch locations |
Members: | 2,862,415 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 227 |
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Membership Type: | Multiple common bond - Primarily military |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $34,823,233,611 |
CEO/Manager: | James R Schenck |
Chairperson: | Edward B Cody |
ASSETS: | $ Amount |
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Cash & Equivalents | 681,659,735 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 108,995,664 |
Real Estate Loans | 17,117,586,227 |
Unsecured Loans | 5,487,327,247 |
Other Loans | 6,329,398,086 |
TOTAL LOANS | 28,934,875,608 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -690,718,134 |
Land And Building | 271,659,138 |
Other Fixed Assets | 280,095,985 |
NCUSIF Deposit | 242,615,042 |
All Other Assets | 30,010,855 |
TOTAL ASSETS | 34,823,233,611 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 34,147,428 |
Notes & Interest Payable | 1,916,000,000 |
Accounts Payable & Other Liabilities | 456,217,587 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 1,998,774,076 |
Regular shares | 7,440,251,240 |
All Other Shares & Deposits | 20,052,669,756 |
TOTAL SHARES & DEPOSITS | 29,491,695,072 |
TOTAL LIABILITIES | 31,909,149,949 |
Regular Reserve | 0 |
Other Reserves | 164,039,557 |
Undivided Earnings | 2,750,044,105 |
TOTAL EQUITY | 2,914,083,662 |
TOTAL LIABILITIES, SHARES, & EQUITY | 34,823,233,611 |
INCOME & EXPENSE | |
Loan Income | 1,713,456,838 |
Investment Income | 114,940,502 |
Other Income | 141,056,044 |
Total Employee Compensation & Benefits | 377,576,382 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 438,667,287 |
Non-operating Income & (Expense) | -10,067,009 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 452,885,802 |
Cost of Funds | 778,687,149 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 49,546,974 |
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