Dec, 31, 2021 — PENTAGON FEDERAL CREDIT UNION (PENFED) is a federal credit union headquartered in MCLEAN, VA with 44 branch locations and about $32.52 billion in total assets. Opened 87 years ago in 1935, PENTAGON FEDERAL CREDIT UNION (PENFED) has more than 2.6 million members and employs 3,630 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: | 2,553,760 |
| 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: | $32,520,025,379 |
| CEO/Manager: | James R Schenck |
| Chairperson: | Edward B Cody |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 554,803,847 |
| TOTAL INVESTMENTS | 2,348,431,901 |
| Loans Held for Sale | 3,910,277,179 |
| Real Estate Loans | 12,419,929,856 |
| Unsecured Loans | 5,376,079,046 |
| Other Loans | 5,952,593,472 |
| TOTAL LOANS | 23,748,640,133 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -251,355,174 |
| Land And Building | 299,803,356 |
| Other Fixed Assets | 236,714,675 |
| NCUSIF Deposit | 184,809,348 |
| All Other Assets | 1,487,900,114 |
| TOTAL ASSETS | 32,520,025,379 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 10,286,114 |
| Notes & Interest Payable | 5,847,259,844 |
| Accounts Payable & Other Liabilities | 473,655,912 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,093,612,287 |
| Regular shares | 8,371,028,326 |
| All Other Shares & Deposits | 12,623,340,889 |
| TOTAL SHARES & DEPOSITS | 23,087,981,502 |
| TOTAL LIABILITIES | 29,419,183,372 |
| Regular Reserve | 90,900,456 |
| Other Reserves | 40,369,981 |
| Undivided Earnings | 2,969,571,570 |
| TOTAL EQUITY | 3,100,842,007 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 32,520,025,379 |
| INCOME & EXPENSE | |
| Loan Income | 1,020,421,605 |
| Investment Income | 35,360,544 |
| Other Income | 52,856,206 |
| Total Employee Compensation & Benefits | 381,951,107 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 480,396,573 |
| Non-operating Income & (Expense) | -15,928,805 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 135,107,285 |
| Cost of Funds | 246,498,007 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 295,518,696 |
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