Thursday, March 2, 2017

PenFed on Merger Spree

Since November 1, 2015, Alexandria,VA-based Pentagon Federal Credit Union (PenFed) has been on a merger binge.

PenFed has completed 8 mergers between November 1, 2015 and January 1, 2017, according to the Federal Financial Institutions Examination Council's National Information Center.

In addition, there are 5 mergers waiting to be completed. Three include credit unions that were in poor financial conditions

These thirteen acquisitions, when all are completed, will add more than $1 billion in assets to PenFed.

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