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

PenFed Credit Union, the nation’s third-largest credit union, cut 569 jobs, or 14% of its workers, in the fourth quarter as loan originations fell.

CU Times, citing multiple unnamed sources, reported last November that PenFed laid off 200 to 600 people located across numerous states. The layoffs appeared to focus on remote employees who worked in the lending departments of the credit union.

Jim DuPlessis

A journalist for decades.

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