ALEXANDRIA, Va., Jan. 14, 2016 /PRNewswire/ -- While the grand opening ceremonies are more than a week away, PenFed Credit Union's newest branch in Hagatna, Guam is already open for business. PenFed chose to open its newest branch in the professional offices of the scenic 88,000 square feet GCIC Building, centrally located in the heart of the island's main business area.
In addition to growing its presence in Guam, PenFed has begun offering conforming mortgages for real estate there. Homebuyers seeking properties on Guam can finance up to $625,500 for conforming mortgages. All of Guam is eligible for financing of primary residences and second homes. The credit union is expecting to do approximately $50 million in mortgage transactions on Guam during the first year of availability.
"PenFed is committed to our members on the island of Guam," said Kevyn Myers, executive vice president and chief operating officer of PenFed Credit Union. "The location is important because it is still conveniently located near Andersen Air Force Base, yet fully accessible to all members, regardless of military status," she said.
The Hagatna branch's innovative, open floor plan design features modern concepts such as interactive member-teller cash recycler kiosks, digital signage and onsite ATM services. The layout creates a more user-friendly and engaging approach to banking for the credit union's members.
"PenFed makes a priority of finding ways to better serve its members and understands that the first step is to listen. Member feedback greatly influenced the credit union's decision to bring market-leading mortgage products to Guam and build a greater presence there in the form of a new branch near Andersen Air Base," said Michele Hart, vice president of branch operations with PenFed Credit Union.
Grand Opening Celebration
To celebrate the opening of the new Hagatna branch, the staff invites both the public and military communities to attend its grand opening event on Jan. 28. The celebration will include a ribbon-cutting ceremony that will begin at 9 a.m., followed by an open house.
The hours of operation for the Hagatna branch are Monday through Friday from 9-4 p.m. The branch is located in the GCIC Building at 414 W. Soledad Ave. in Hagatna, Guam.
About PenFed Credit Union
Established in 1935 as the War Department Credit Union, PenFed Credit Union is one of the largest credit unions in the country, serving 1.4 million members worldwide; with $19 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 Credit Union offers market-leading mortgages, automobile loans, credit cards, checking, and a wide range of other financial services with its members' interests always in mind. PenFed Credit Union serves a diverse population, and no military service is required to join. We offer many paths to membership, including numerous employee groups and association affiliations. It's easy to apply. We invite you to come see why you belong at PenFed Credit Union. PenFed Credit Union is federally insured by the NCUA and is an equal housing lender. To learn more about PenFed Credit Union, visit PenFed.org, like us on Facebook and follow us @PenFed on Twitter. Interested in working for PenFed? Check us out on Linkedin. We are proud to be an Equal Opportunity Employer: M/F/V/D.