# PenFed Credit Union

PenFed Credit Union is an other based in Washington, United States.

## Overview

- **Organization type:** other
- **Headquarters:** Washington, United States
- **Region:** North America
- **Address:** Washington, United States
- **Founded:** 1935
- **Assets under management:** Undisclosed
- **Website:** www.penfed.org
- **LinkedIn:** https://www.linkedin.com/company/penfed

## Regulatory record

- **Reports private funds:** No

## About

PenFed Credit Union offers loans, savings accounts, credit cards, and financial education to its diverse membership base across the US and territories. It is federally insured and an equal housing lender. Founded in 1935, PenFed is based in Alexandria, Virginia.

## People

- James Schenck — President and CEO
- John Broderick — Vice President of Lending

## Questions

### Who runs investment decisions at PenFed Credit Union?

Investment decisions at PenFed are made by a combination of the board of directors, executive management including CEO James Schenck, and the credit union's asset/liability committee. The firm's lending activities are governed by federal regulations and cooperative principles rather than a proprietary investment mandate.

### Does PenFed maintain a separate investment portfolio beyond member lending?

PenFed does not operate a typical family office or asset management division. Its assets consist largely of member deposits, which are deployed primarily into consumer and mortgage loans. The credit union holds regulatory capital reserves but does not engage in third-party fund investing or direct equity deals.

### What investment stages does PenFed typically target?

PenFed does not target investment stages in the traditional venture or private equity sense. Its lending products span the full lifecycle of consumer needs — from auto loans and mortgages to credit cards — and are originated to individual members rather than institutional counterparties.

### How is PenFed related to the U.S. Department of Defense?

PenFed was originally chartered to serve Pentagon employees but is now open to anyone who joins the credit union's membership base. It retains a strong affiliation with military and government communities through its PenFed Foundation and Veteran-focused programs, but operates independently as a federally insured credit union regulated by the National Credit Union Administration (NCUA).

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Last updated: 2026-06-03T20:00:00.000Z

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