PenFed Credit Union Finishes First Quarter of 2025 with Increased Earnings, Capital and Liquidity

One of America's largest federal credit unions maintains over $3 billion in regulatory net worth.

TYSONS, Va., May 1, 2025 /PRNewswire/ -- PenFed Credit Union, one of the nation's largest federal credit unions, finished the first quarter of 2025 with increased earnings, capital and liquidity. PenFed also finished the quarter with nearly 3 million members, $31 billion in assets and over $3 billion in regulatory net worth.

"PenFed is proud to report it exceeded its first quarter business goals. Compared to the first quarter of the prior year, current quarter's net income was $59.3 million versus $23.1 million, an increase of 156%; regulatory capital was 10.05% versus 9.26%, and liquidity increased from 12.6% to 14.5%," said PenFed President and CEO James Schenck. "PenFed is committed to supporting our members with world class financial products at great rates through all economic cycles as it celebrates its 90^th anniversary this year.

PenFed's first quarter of 2025 financial highlights include:

• PenFed's regulatory net worth capital ratio ended the quarter at 10.05%, an increase of 79 basis points year-over-year including year-to-date net income of $59.3 million.
• PenFed closed the quarter with over $939 million of capital in excess of required regulatory net worth to be well capitalized.
• PenFed's total cash and investments increased to 14.5% of total assets, an increase of 193 basis points year-over-year.
• PenFed HELOC volume increased from $268.9 million to $306.8 million, a 14% increase year-over-year.

In addition to accomplishing key business milestones, PenFed donated over $300,000 to 11 charitable organizations during the first quarter and will continue to support the communities where its employees live and work throughout the year. One example is PenFed's commitment to providing a financial literacy program for high school students in Puerto Rico. Earlier this month, PenFed in partnership with EVERFI hosted an interactive learning event focused on improving financial literacy in grades 9-12 at Carmen Belén Veiga High School in Juana Diaz, Puerto Rico. The students recently completed the "Tu Dinero, Tu Sueño" ("Your Money, Your Dreams") program, a scalable digital financial education curriculum provided by PenFed through a strategic partnership with EVERFI, the leader in powering digital financial education for K-12 schools across the United States and Puerto Rico. PenFed has supported over 4,000 High School students through this program to date. 

Looking forward, Schenck said, "PenFed is anticipating the Federal Reserve Board will lower its benchmark interest rate which should apply downward pressure on loan and deposit rates in the back half of 2025 across most financial institutions. This may prove to be an opportunity for borrowers to take advantage of lower loan rates."

About PenFed Credit Union
Established in 1935, Pentagon Federal Credit Union (PenFed) is one of America's largest federal credit unions, serving nearly 3 million members worldwide with $31 billion in assets. PenFed Credit Union offers market-leading certificates, checking, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services with members' interests always in mind. 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 X. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.

SOURCE PenFed Credit Union