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PenFed CU Sees Record Annual Mortgage Lending Volume

Navi Persaud
Jan 21, 2022

PenFed Credit Union announced it's financial highlights from 2021 which includes record annual mortgage lending volume.

In the fourth quarter of 2021, PenFed's mortgage lending volume consisted of $6.3 billion in mortgage loans, bringing the total mortgage lending volume to $19 billion for the entire year.

“Making $31 billion worth of mortgage and consumer loan originations in 2021 is the result of PenFed's value proposition of great rates for everyone, inspired leadership within our mortgage and consumer lending teams, and the dedication to member service of the 3,700 financial professionals who power PenFed forward,” said PenFed president and CEO James Schenck.

“In addition to accomplishing these key business milestones, PenFed is proud to have donated $5.5 million to charitable organizations in 2021.”

Schenck also stated that the company will continue to give back to the communities of its members and employee as it continues to grow. 

Established in 1935, Pentagon Federal Credit Union (PenFed) is America's second-largest federal credit union, serving 2.6 million members worldwide with $32.5 billion in assets.

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