Welcome to Virginia.
PenAir Credit Union is expanding into Southwest Virginia, opening membership to residents in Montgomery County, Roanoke County and the cities of Radford, Roanoke and Salem, a combined market of more than 330,000 people.
According to recent U.S. Census estimates, Montgomery County is home to roughly 100,000 residents, Roanoke County about 96,000, the City of Roanoke approximately 100,000, Salem nearly 25,000 and Radford about 16,000. PenAir's expansion allows individuals who live, work, worship or attend school in those communities to join the Florida-based credit union.
The move marked a milestone for the 90-year-old institution, which has grown to more than $2.7 billion in assets. President/CEO Lee Morgan said the expansion reflects purposeful growth and longstanding ties to the region.
"Expanding into Virginia allows us to carry that purpose to a region that values connection, opportunity and long-term financial wellbeing," Morgan said.
PenAir established an initial foothold in the state through its 2025 merger with Star City Federal Credit Union and has since expanded commercial and indirect lending operations. The credit union is also investing in digital outreach while evaluating a future physical branch presence in the region.
Eligible members will have access to PenAir's digital banking platform, loans, checking and savings products, along with commercial lending services aimed at supporting local businesses.
PenAir said the expansion broadens consumer choice and reinforces its commitment to community-based financial partnerships.
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