| Type | Credit union |
|---|---|
| Industry | Financial services |
| Founded | 1935 |
| Headquarters | Alexandria, Virginia, United States |
| Number of locations | 22 |
| Area served | Air Force, Army, Coast Guard, Department of Homeland Security, Department of Defense, defense-related companies, the Veterans of Foreign Wars and their families |
| Key people | Jim Quinn, Board of Directors Chairman Frank Pollack, President |
| Products | Savings; checking; consumer loans; mortgages; credit cards; investments |
| Website | penfed.org |
Pentagon Federal Credit Union is a federal credit union headquartered in Alexandria, Virginia, chartered and regulated under the authority of the National Credit Union Administration (NCUA). Pentagon Federal Credit Union is the nation's second largest federal credit union with assets of over $15B (February 2011) and approximately 1 million members.
In addition to savings and checking accounts and loans, it also offers credit cards[1] and other financial services.
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As with all credit unions, membership in Pentagon Federal Credit Union is limited to individuals sharing the common bond defined its credit union charter. The Field of Membership at Pentagon Federal Credit Union is:
Pentagon Federal is not the only financial services company that specializes in serving the military. The credit union competes with other military credit unions, like Navy Federal Credit Union, as well as with some large banks including Bank of America-Military Bank and USAA.
Pentagon Federal has a new policy on its credit cards for new cardholders (under 6 months of membership) where the payment is put in float until it clears.
Pentagon Federal operates three call centers, including Omaha, Nebraska[2], Eugene, Oregon, and Puerto Rico.
In 2003, Pentagon Federal joined Allpoint, a surcharge-free network of automated teller machines.[3]