Friday, January 25, 2019

PenFed to Open a Regional Finance Center in San Antonio, Receives $2.5 Million Grant from State

Texas Governor Greg Abbott announced on January 25 that McLean, VA-based Pentagon Federal Credit Union (PenFed) will open a new Regional Financial Center in San Antonio, Texas, pending local incentive approvals.

The new facility is expected to create 571 new jobs and over $48 million in capital investment.

A Texas Enterprise Fund (TEF) grant of up to $2,523,850, which includes a bonus for hiring veterans, has been extended to Pentagon Federal Credit Union.

PenFed is the third largest credit union in the country with $24.1 billion in assets.

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