Business
PenFed Credit Union Grows Earnings, Capital and Liquidity While Improving Credit Quality Through the First Quarter of 2026
PenFed Credit Union, one of the nation's largest federal credit unions, reported continued increases in capital and liquidity, earnings growth and improved credit quality through the first quarter of 2026.
About this update from Salesforce, Inc.
PenFed's Unified Digital Banking Platform Drives Performance TYSONS, Va. , April 30, 2026 /PRNewswire/ -- PenFed Credit Union , one of the nation's largest federal credit unions, reported continued increases in capital and liquidity, earnings growth and improved credit quality through the first quarter of 2026. "PenFed's first quarter results demonstrate the strength of our member focus, digital banking, and disciplined lending strategy," said James Schenck, PenFed President and CEO. "Strong quarterly net income was driven by robust member demand and competitive pricing, as well as improved operating performance and credit discipline. PenFed's AI-driven partnership with Salesforce is fueling PenFed's success in enhancing the member experience and contributing to our ability to deliver great rates, hyper-personalization, and a complete unified banking platform across all channels. Being an agentic enterprise is central to creating value for our members, employees, and the institution by driving innovation, building resilience, and generating long-term impact throughout PenFed. This strategy enables us to deliver great rates for our members, generate strong earnings, and grow capital. These results underscore our ability to perform well across economic cycles while staying true to our mission of empowering members to achieve their financial dreams." PenFed's Q1 2026 Financial Highlights Loan and Deposit Growth Earnings Growth Capital and Liquidity Strength Credit Quality and Risk Management Community and Member Impact About PenFed Credit Union Established in 1935, Pentagon Federal Credit Union (PenFed) is one of America's largest federal credit unions, serving nearly 2.8 million members worldwide with $29 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. View original content to download multimedia: https://www.prnewswire.com/news-releases/penfed-credit-union-grows-earnings-capital-and-liquidity-while-improving-credit-quality-through-the-first-quarter-of-2026-302759093.html