Mar, 31, 2022 — PENTAGON FEDERAL CREDIT UNION (PENFED) is a federal credit union headquartered in MCLEAN, VA with 44 branch locations and about $35.38 billion in total assets. Opened 87 years ago in 1935, PENTAGON FEDERAL CREDIT UNION (PENFED) has more than 2.7 million members and employs 3,927 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: | 2,715,505 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $35,384,958,876 |
| CEO/Manager: | James R Schenck |
| Chairperson: | Edward B Cody |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 555,507,877 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 2,176,782,256 |
| Real Estate Loans | 15,942,258,382 |
| Unsecured Loans | 5,752,978,821 |
| Other Loans | 6,171,281,180 |
| TOTAL LOANS | 27,867,835,758 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -247,282,774 |
| Land And Building | 298,125,048 |
| Other Fixed Assets | 275,761,521 |
| NCUSIF Deposit | 185,358,598 |
| All Other Assets | 18,297,670 |
| TOTAL ASSETS | 35,384,958,876 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 9,361,315 |
| Notes & Interest Payable | 6,531,563,032 |
| Accounts Payable & Other Liabilities | 679,946,134 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,237,142,889 |
| Regular shares | 8,938,046,322 |
| All Other Shares & Deposits | 13,795,154,880 |
| TOTAL SHARES & DEPOSITS | 24,970,344,091 |
| TOTAL LIABILITIES | 32,191,214,572 |
| Regular Reserve | 0 |
| Other Reserves | 56,629,393 |
| Undivided Earnings | 3,137,114,911 |
| TOTAL EQUITY | 3,193,744,304 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 35,384,958,876 |
| INCOME & EXPENSE | |
| Loan Income | 315,366,154 |
| Investment Income | 10,509,214 |
| Other Income | 46,961,463 |
| Total Employee Compensation & Benefits | 115,445,086 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 128,088,955 |
| Non-operating Income & (Expense) | 9,971,245 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 41,248,945 |
| Cost of Funds | 62,814,954 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 76,642,886 |
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