Mar, 31, 2021 — PENTAGON FEDERAL CREDIT UNION (PENFED) is a federal credit union headquartered in MCLEAN, VA with 44 branch locations and about $27.25 billion in total assets. Opened 86 years ago in 1935, PENTAGON FEDERAL CREDIT UNION (PENFED) has more than 2.2 million members and employs 2,953 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 |
|---|---|
| Address: (Main Office) | 7940 JONES BRANCH DR MCLEAN, VA 22102 |
| Phone: | (571) 341-6706 |
| Fax: | (571) 341-6727 |
| Website: | http://www.penfed.org |
| Branches: | 44 branch locations |
| Members: | 2,230,593 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 227 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $27,254,912,909 |
| CEO/Manager: | James R Schenck |
| Chairperson: | Edward B Cody |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,761,413,637 |
| TOTAL INVESTMENTS | 2,176,897,277 |
| Loans Held for Sale | 1,270,378,507 |
| Real Estate Loans | 10,724,660,342 |
| Unsecured Loans | 4,444,030,765 |
| Other Loans | 4,036,582,765 |
| TOTAL LOANS | 19,205,357,364 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -252,536,130 |
| Land And Building | 311,589,223 |
| Other Fixed Assets | 228,042,981 |
| NCUSIF Deposit | 169,541,788 |
| All Other Assets | 1,384,228,262 |
| TOTAL ASSETS | 27,254,912,909 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 9,477,170 |
| Notes & Interest Payable | 3,723,749,686 |
| Accounts Payable & Other Liabilities | 472,378,608 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,917,150,818 |
| Regular shares | 7,301,717,750 |
| All Other Shares & Deposits | 10,993,942,597 |
| TOTAL SHARES & DEPOSITS | 20,212,811,165 |
| TOTAL LIABILITIES | 24,418,416,629 |
| Regular Reserve | 90,900,456 |
| Other Reserves | 14,340,796 |
| Undivided Earnings | 2,731,255,028 |
| TOTAL EQUITY | 2,836,496,280 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 27,254,912,909 |
| INCOME & EXPENSE | |
| Loan Income | 230,671,670 |
| Investment Income | 8,787,980 |
| Other Income | 14,396,532 |
| Total Employee Compensation & Benefits | 80,327,054 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 107,874,905 |
| Non-operating Income & (Expense) | -7,417,269 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 40,561,396 |
| Cost of Funds | 65,648,954 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 57,202,155 |
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