The $20.6 billion Pentagon Federal Credit Union in Tysons, Va.announced its third merger of the year Friday.
|Members of the $114 million Augusta Metro FederalCredit Union of Augusta, Ga. voted to mergewith PenFed.
|“This was the best long-term strategic decision for AugustaMetro,” Augusta Metro's President/CEO Sherry Saxon, said in aprepared statement. “PenFed is one of our nation's strongest creditunions and we believethat the immediate value to our members and thecareer opportunities for our staff are very compelling.”
|Chartered in 1961 by employees of the Continental Can Company,Augusta Metro serves more than 22,000 members and operates fivebranches.
|Earlier this month, members of the $227 million Valor FederalCredit Union in Scranton, Pa. voted to merge with PenFed.
|Valor FCU, chartered in 1954 by employees of the TobyhannaSignal Depot, serves more than 20,000 members and operates fourbranches.
|In January, the $173 million Miramar Federal Credit Union in SanDiego announced its consolidation with PenFed. MFCU served 6,775members who are civilian, active and retired military personnel andtheir families in San Diego County. The credit union was organizedin 1952 to serve the Marine Corps Air Station in Miramar.
|Last year, PenFed merged six credit unions.
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