Dec, 31, 2022 — PENTAGON FEDERAL CREDIT UNION (PENFED) is a federal credit union headquartered in MCLEAN, VA with 48 branch locations and about $35.88 billion in total assets. Opened 88 years ago in 1935, PENTAGON FEDERAL CREDIT UNION (PENFED) has more than 2.8 million members and employs 4,025 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: | https://www.penfed.org |
| Branches: | 48 branch locations |
| Members: | 2,826,325 |
| 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: | $35,882,996,822 |
| CEO/Manager: | James R Schenck |
| Chairperson: | Edward B Cody |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 715,894,039 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 373,672,389 |
| Real Estate Loans | 17,480,049,151 |
| Unsecured Loans | 5,900,244,098 |
| Other Loans | 6,427,423,102 |
| TOTAL LOANS | 29,808,317,458 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -267,953,657 |
| Land And Building | 287,929,436 |
| Other Fixed Assets | 285,148,216 |
| NCUSIF Deposit | 207,976,765 |
| All Other Assets | 27,040,794 |
| TOTAL ASSETS | 35,882,996,822 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 11,310,100 |
| Notes & Interest Payable | 4,823,029,291 |
| Accounts Payable & Other Liabilities | 488,923,829 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,155,222,677 |
| Regular shares | 8,503,628,111 |
| All Other Shares & Deposits | 16,482,524,434 |
| TOTAL SHARES & DEPOSITS | 27,141,375,222 |
| TOTAL LIABILITIES | 32,464,638,442 |
| Regular Reserve | 0 |
| Other Reserves | 150,759,449 |
| Undivided Earnings | 3,267,598,931 |
| TOTAL EQUITY | 3,418,358,380 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 35,882,996,822 |
| INCOME & EXPENSE | |
| Loan Income | 1,016,593,313 |
| Investment Income | 41,201,119 |
| Other Income | 124,295,799 |
| Total Employee Compensation & Benefits | 337,431,903 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 384,788,530 |
| Non-operating Income & (Expense) | 267,897,947 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 173,843,215 |
| Cost of Funds | 243,796,766 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 207,866,895 |
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