Pentagon Credit Union
Analysis
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Edited by General
Pentagon Federal Credit Union (PenFed) is one of the US's largest federal credit unions, based on assets and membership. PenFed has members in all 50 states, the District of Columbia and several U.S. territories, and has traditionally served members of the armed forces, and employees of the federal government, although membership is much more broadly available now. It is insured by the National Credit Union Administration (NCUA).
Advantages
- The Premium Online Savings Account can be opened with as little as $5 and offers an above-average yield.
- PenFed does not charge monthly fees.
Disadvantages
- ATM access is poor.
- PenFed's regular savings account and other deposit products do not offer competitive rates.
Savings Fees
| Fee Type | |
|---|---|
| Non Sufficient Funds | $0.00 |
| Maintenance | $0.00 |
| Out-of-network ATM | $0.00 |
| Excessive Transaction | $0.00 |
| Incoming Wires | $0.00 |
Financial Details
Pentagon Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Pentagon. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Pentagon | U.S. Average |
|---|---|
| 0.00% | 6.52 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of March 31, 2024, Pentagon had $255,265,838 in non-current loans and $25,665,119 in owned assets. To cover these potential losses it had $3,225,157,508 in net worth and $280,784,860 in loans loss reserves. That gives it a Texas Ratio of 0.00%.
Net Worth
| Pentagon | U.S. Average |
|---|---|
| 9.26% | 13.65% |
Pentagon FCU has a net worth of 9.26% versus the BestCashCow average of 13.65. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Pentagon Reviews
Rob
December 25, 2023
I joined in PENFED in Spring Of 2023 after 15 yrs of belonging to one of the banking giants. I found my accounts dwindling fast unexplained decreases. I decided to close the account but had to return a merchandise for 600.00 same day I closed. Reassured I would get the money from my card refund. I never got that money. The local telkers winkie blinked at each other, asked each other in front of me giggling if that had been taken care of..., then told me they had no such transaction. The merchant showed me a refund after my account closed. Thug Mafia like principles. This is for you if you are like minded. End times.
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