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PenFed teams up with CUNA Brokerage Services.

PenFed announced Thursday it will work through a CUNA Mutual Group subsidiary to offer wealth management services to members, expanding the offerings now available through its in-house service.

PenFed, the nation’s second-largest credit union with $23 billion in assets, said it will work through CUNA Brokerage Services, a CUNA Mutual Group subsidiary that only serves credit unions. It generates about $145 million a year in revenue, and has about 430 advisors at 285 credit unions managing $25 billion in client assets.

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Jim DuPlessis

A journalist for decades.

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