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 Federal Credit Union of Augusta, Ga. voted to merge with PenFed.
“This was the best long-term strategic decision for Augusta Metro,” Augusta Metro’s President/CEO Sherry Saxon, said in a prepared statement. “PenFed is one of our nation’s strongest credit unions and we believe that the immediate value to our members and the career 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 five branches.
Earlier this month, members of the $227 million Valor Federal Credit Union in Scranton, Pa. voted to merge with PenFed.
Valor FCU, chartered in 1954 by employees of the Tobyhanna Signal Depot, serves more than 20,000 members and operates four branches.
In January, the $173 million Miramar Federal Credit Union in San Diego announced its consolidation with PenFed. MFCU served 6,775 members who are civilian, active and retired military personnel and their families in San Diego County. The credit union was organized in 1952 to serve the Marine Corps Air Station in Miramar.
Last year, PenFed merged six credit unions.
