Dec, 31, 2020 — PENTAGON FEDERAL CREDIT UNION (PENFED) is a federal credit union headquartered in MCLEAN, VA with 49 branch locations and about $26.74 billion in total assets. Opened 86 years ago in 1935, PENTAGON FEDERAL CREDIT UNION (PENFED) has more than 2.2 million members and employs 2,776 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: | 49 branch locations |
| Members: | 2,157,747 |
| 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, 2019 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $26,740,250,158 |
| CEO/Manager: | James R Schenck |
| Chairperson: | Edward B Cody |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,118,215,561 |
| TOTAL INVESTMENTS | 1,904,323,375 |
| Loans Held for Sale | 1,991,570,712 |
| Real Estate Loans | 10,827,761,428 |
| Unsecured Loans | 4,275,112,092 |
| Other Loans | 3,849,601,080 |
| TOTAL LOANS | 18,952,474,600 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -244,748,792 |
| Land And Building | 315,033,610 |
| Other Fixed Assets | 227,352,673 |
| NCUSIF Deposit | 169,541,788 |
| All Other Assets | 1,306,486,631 |
| TOTAL ASSETS | 26,740,250,158 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 11,716,223 |
| Notes & Interest Payable | 3,766,882,329 |
| Accounts Payable & Other Liabilities | 486,675,555 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,718,333,024 |
| Regular shares | 6,485,811,980 |
| All Other Shares & Deposits | 11,492,741,668 |
| TOTAL SHARES & DEPOSITS | 19,696,886,672 |
| TOTAL LIABILITIES | 23,962,160,779 |
| Regular Reserve | 90,900,456 |
| Other Reserves | 13,136,049 |
| Undivided Earnings | 2,674,052,874 |
| TOTAL EQUITY | 2,778,089,379 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 26,740,250,158 |
| INCOME & EXPENSE | |
| Loan Income | 966,700,990 |
| Investment Income | 45,728,393 |
| Other Income | 338,855,584 |
| Total Employee Compensation & Benefits | 286,652,520 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 349,723,649 |
| Non-operating Income & (Expense) | 2,502,839 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 251,793,008 |
| Cost of Funds | 332,576,167 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 133,042,462 |
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