Pentagon Federal Credit Union
Encyclopedia
Pentagon Federal Credit Union is a federal credit union
headquartered in Alexandria, Virginia
, chartered and regulated under the authority of the National Credit Union Administration
(NCUA). Pentagon Federal Credit Union is the nation's second largest federal credit union with assets of over $15B (February 2011) and approximately 1 million members.
In addition to savings and checking accounts and loans, it also offers credit cards and other financial services.
.
The Field of Membership at Pentagon Federal Credit Union is:
, as well as with some large banks including Bank of America-Military Bank
and USAA
.
Pentagon Federal has a new policy on its credit cards for new cardholders (under 6 months of membership) where the payment is put in float until it clears.
, and Puerto Rico
.
In 2003, Pentagon Federal joined Allpoint
, a surcharge-free network of automated teller machines.
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
headquartered in Alexandria, Virginia
Alexandria, Virginia
Alexandria is an independent city in the Commonwealth of Virginia. As of 2009, the city had a total population of 139,966. Located along the Western bank of the Potomac River, Alexandria is approximately six miles south of downtown Washington, D.C.Like the rest of northern Virginia, as well as...
, chartered and regulated under the authority of the National Credit Union Administration
National Credit Union Administration
The National Credit Union Administration is the United States independent federal agency that supervises and charters federal credit unions...
(NCUA). Pentagon Federal Credit Union is the nation's second largest federal credit union with assets of over $15B (February 2011) and approximately 1 million members.
In addition to savings and checking accounts and loans, it also offers credit cards and other financial services.
Membership
As with all credit unions, membership in Pentagon Federal Credit Union is limited to individuals sharing the common bond defined its credit union charterCharter
A charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified...
.
The Field of Membership at Pentagon Federal Credit Union is:
- Active or Retired from the U.S. Army, Air ForceUnited States Air ForceThe United States Air Force is the aerial warfare service branch of the United States Armed Forces and one of the American uniformed services. Initially part of the United States Army, the USAF was formed as a separate branch of the military on September 18, 1947 under the National Security Act of...
, Coast Guard, Reserves, National Guard, ROTC (Advanced Cadets) - Members of the U.S. Coast Guard Auxiliary
- Members of the Veterans of Foreign Wars of the United States (VFW)
- Civilians employed by, or retired, Department of Defense, Homeland Security, Army, Air Force
- Pentagon Building employees
- Employees of the Transpotomac Plaza or Canal Center in Alexandria, VA
- Individuals who are assigned to, work at, or receive benefits from, any defense or military-based institution
- Family members of those in the Field of Membership, including: grandparents, parents, spouse, siblings, children (including adopted, foster and stepchildren), grandchildren, and household members
- Family members and employees of Pentagon Federal Credit Union itself
- National Military Family AssociationNational Military Family AssociationThe National Military Family Association , headquartered in Alexandria, Virginia, is a private non-profit association organized to improve the quality of family life of all military personnel.-History:...
members - Military Officers Association of AmericaMilitary Officers Association of AmericaThe Military Officers Association of America, or MOAA, is an association of 370,000 military officers, including active duty, retired, National Guard, Reserve, and former officers and their families. It is an independent, nonprofit, and politically nonpartisan organization...
members - Reserve Officers AssociationReserve Officers AssociationThe Reserve Officers Association is a professional association of officers, former officers, and spouses of all the uniformed services of the United States, primarily the Reserve and National Guard. Chartered by Congress and in existence since 1922, ROA advises and educates the Congress, the...
members - Employee or Volunteer of the American Red Cross
Competition
Pentagon Federal is not the only financial services company that specializes in serving the military. The credit union competes with other military credit unions, like Navy Federal Credit UnionNavy Federal Credit Union
Navy Federal Credit Union is a credit union headquartered in Vienna, Virginia, chartered and regulated under the authority of the National Credit Union Administration of the U.S. federal government. Navy Federal is the largest natural member credit union in the world, both in asset size and in...
, as well as with some large banks including Bank of America-Military Bank
Bank of America
Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
and USAA
USAA
United Services Automobile Association is a Fortune 500 financial services company offering banking, investing, and insurance to people and families that serve, or served, in the United States military. In 2011, there were 8.4 million members. The company reported a net worth of $19.3 billion in...
.
Pentagon Federal has a new policy on its credit cards for new cardholders (under 6 months of membership) where the payment is put in float until it clears.
Locations
Pentagon Federal operates three call centers, including Omaha,Nebraska, Eugene, OregonEugene, Oregon
Eugene is the second largest city in the U.S. state of Oregon and the seat of Lane County. It is located at the south end of the Willamette Valley, at the confluence of the McKenzie and Willamette rivers, about east of the Oregon Coast.As of the 2010 U.S...
, and Puerto Rico
Puerto Rico
Puerto Rico , officially the Commonwealth of Puerto Rico , is an unincorporated territory of the United States, located in the northeastern Caribbean, east of the Dominican Republic and west of both the United States Virgin Islands and the British Virgin Islands.Puerto Rico comprises an...
.
In 2003, Pentagon Federal joined Allpoint
Allpoint
Allpoint is an interbank network in the United States connecting ATMs in all 50 states. It advertises itself as being "America's Largest Surcharge-Free ATM Network", with "1 in every 12 ATMs" being part of its network...
, a surcharge-free network of automated teller machines.