Press

PenFed plans to invest in expansion of its operations in Omaha, Nebraska.

ALEXANDRIA, VA (January 26, 2015) — Pentagon Federal Credit Union (PenFed) finished 2014 with $963 million in growth and has set its sights on the Greater Omaha, Neb. area as a key location for expanded operations.

PenFed’s plans to grow in the Omaha area are consistent with a strategy that, in part, calls for placing more focus on its core—those serving in the national defense community and all who support them. The growth plans for Omaha, like those announced earlier this month for Northwestern Florida, include mergers and acquisitions, and the development of business partnerships with other credit unions in the area.

“We’re excited about this growth period in which we currently find ourselves. It’s not only good for PenFed, but it’s good for our members, employees, and economies of the communities in which we have operations,” said PenFed President and CEO James Schenck. “Regarding our plans to expand in Omaha, we’ve been a proud part of that community since 1992. From operating a major service center that employs about 400 people to participating in the fun of “Pigskin in the Park,” we’re part of the landscape, but there is definitely room for us to grow. PenFed will need to recruit lots of local talent there.  We’ll be especially keen on speaking with members of the local community who have credit union or other financial services experience because I believe they’ll be ready to hit the ground running and grow with us,” said Schenck.

During 2015 in Omaha, PenFed plans to add positions at its service center, begin branch operations, and hire employees in the areas of IT, Finance, Mortgage Processing, Member Services, and Administrative Support.

PenFed is a low-cost provider that is known as an industry leader in providing some of the lowest rates in the nation on mortgage, auto, and credit card lending. Additionally, the credit union offers competitive returns on its certificates, and lower or fewer fees associated with its checking and savings account programs.

To learn more about PenFed’s investment and financial services or how to become a member, visit PenFed.org.

About PenFed
Established in 1935 as the War Department Credit Union, PenFed is one of the largest credit unions in the country, serving 1.3 million members worldwide; with nearly $18 billion in assets. Its long-standing mission has been to provide superior financial services in a cost effective manner, while being responsive to members’ needs. PenFed offers market-leading mortgages, automobile loans, credit cards, checking, and a wide range of other financial services with its members’ interests always in mind. Serving a diverse population, PenFed offers many ways to become a member; including numerous employee groups and association affiliations. PenFed is federally insured by the NCUA and is an equal housing lender. PenFed does business in accordance with the Federal Fair Housing Law, the Equal Credit Opportunity Act, and is a member of NAFCU. To learn more about PenFed, visit PenFed.org.