Pentagon Federal Credit Union headquarters. (Source: AdobeStock) Pentagon Federal Credit Union headquarters. (Source: AdobeStock)

Pentagon Federal Credit Union announced Monday it sold $460.3 million in securities backed by prime auto loans — its first automotive ABS sale and the third among credit unions.

PenFed of Tysons, Va. ($36.7 billion in assets, 2.8 million members as of June 30) is the nation’s third-largest credit union and the seller of the largest batch of securities based on credit union auto loans.

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Jim DuPlessis

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