SOURCE: Pentagon Federal Credit Union

January 02, 2008 16:47 ET

Pentagon Federal Credit Union and Military Officers Association Become Financial Partners

ALEXANDRIA, VA--(Marketwire - January 2, 2008) - Military Officers Association of America (MOAA) announced today that Pentagon Federal Credit Union became its preferred financial services provider on Jan. 1, 2008.

The new alliance joins two 70-plus year-old organizations whose goals benefit military service men and women worldwide.

"We're very excited," stated Frank Pollack, president and CEO of Pentagon Federal Credit Union. "Both Pentagon Federal and MOAA will benefit by increasing the membership rolls of both organizations. It's a win-win situation for all who can take advantage of it."

Pentagon Federal now serves members of the Army, Air Force, and Coast Guard. Pentagon Federal now also can serve any MOAA member, including members who are in the Navy and Marine Corps.

Pollack continued, "When a MOAA member joins Pentagon Federal, he or she will be able to apply for any of Pentagon Federal's nationally exceptional financial products." For example, members can get a new VISA Platinum Cash Rewards card, featuring 5 percent cash back on gas paid at the pump, 2 percent cash back on supermarket purchases, and 1.25 percent cash back on all other purchases -- all paid to the account monthly. Pentagon Federal also offers several new card designs with the MOAA name on them. MOAA members are also eligible for a special high-yield Pentagon Federal Money Market Savings Account.

According to VADM Norb Ryan, Jr., USN-Ret., MOAA's president, "We view our new association with Pentagon Federal as a way to offer more to our 367,000 members from a financial organization that has provided decades of leadership and service to military people."

According to MOAA and Pentagon Federal officials, the goal is to have every MOAA member benefit from Pentagon Federal, while cross-promoting the benefits of MOAA membership to eligible Pentagon Federal Members.

MOAA membership provides officers and warrant officers of all services educational assistance, employment and career transition help, travel discounts, insurance services, and a strong legislative voice, among other benefits.

Ryan concluded, "With Pentagon Federal filling the role of preferred financial provider, MOAA membership becomes a more valuable resource to military officers and their families worldwide than ever before."

Pentagon Federal Credit Union, has more than 764,000 members and assets in excess of $10.4 billion, and provides worldwide service to Army, Air Force, Coast Guard, Department of Defense, and Department of Homeland Security personnel; members of the VFW; and others in the defense community and their families. Pentagon Federal Credit Union members can access their accounts 24/7 via the Internet at PenFed.org and by phone, or at one of the credit union's branches in Northern Virginia, New York, the District of Columbia, North Carolina, Texas, Colorado, Hawaii, Puerto Rico, Europe, Turkey, and the Pacific.

Contact Information

  • Contact:
    Ben Scandlen
    Pentagon Federal Credit Union
    703-838-1350