SOURCE: Pentagon Federal Credit Union

Pentagon Federal Credit Union

August 04, 2011 19:42 ET

PenFed and Transportation Security Administration -- a Powerful Combination

Under a New Agreement Made With the Transportation Security Administration (TSA), PenFed Has Installed ATMs in TSA's Headquarter Buildings; The Joint Effort Enhances PenFed Membership Services for an Estimated 60,000 TSA Employees

ALEXANDRIA, VA--(Marketwire - Aug 4, 2011) - Pentagon Federal Credit Union (PenFed) announced today that a new agreement made with the Transportation Security Administration (TSA) will enhance PenFed membership services for an estimated 60,000 TSA employees -- individuals who protect the nation's transportation systems to ensure freedom of movement for people and commerce.

Under the new agreement, PenFed has installed ATMs in TSA's headquarter buildings located in Arlington, Virginia. PenFed is also building a full service cash branch there with an estimated opening for business in late August 2011.

"Our new TSA relationship complements our existing partnership with the U.S. Coast Guard," says Roderick Mitchell, Chief Operating Officer, PenFed. "Going forward, we will work closely together with TSA to ensure ATMs and branches will be made available in key strategic locations nationwide."

The relationship between PenFed and TSA is a natural fit and provides TSA employees and their family members access to many "best in class" products. PenFed offers some of the lowest loan rates and best deposit rates available and it does not engage in risk-based lending or teaser rates; all qualified members receive the same rate.

"This is the first time TSA has entered into an agreement with a financial institution to offer banking and financial services to its workforce," said Chief Financial Officer David Nicholson. "We look forward to a good working relationship with PenFed as these services are made available to TSA employees across the country."

For TSA employees and their family members, there is no need to wait for a branch or ATM to open at a particular location to join. To join PenFed, TSA employees can simply visit www.PenFed.org, select "How to Join", select "United States Government Employee" and then select TSA. TSA employees may also contact PenFed direct to establish their membership by calling 800-247-5626, seven days a week.

About Pentagon Federal Credit Union

PenFed is the third largest credit union in the United States with over a million members, and more than $15 billion in assets. The credit union provides worldwide service to Army, Marine Corps, Navy, Air Force, Coast Guard, Department of Defense, and Department of Homeland Security personnel, members of the VFW, employees or volunteers of the American Red Cross, and others in the defense community and their families.

For more information about PenFed or to learn more about membership, visit www.PenFed.org or call 800-247-5626.

Contact Information