PenFed Announces Site Location for New Regional Financial Service Center in San Antonio, Texas

Nation's second-largest federal credit union to expand and create over 500 new jobs in the San Antonio region

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Mar 18, 2019, 06:00 ET

TYSONS, Va., March 18, 2019 /PRNewswire/ -- PenFed Credit Union today announced its new regional financial service center will be located at 19500 Bulverde Road in San Antonio, Texas. PenFed's expansion into the region will create over 500 new jobs including management positions in research, mortgage and loan operations, financial service center operations, collections, information technology and human resources.

"PenFed is proud to make San Antonio home to our new regional financial service center and expand into a city with a large military population and unique landscape of skilled financial professionals," said James Schenck, President and CEO of PenFed Credit Union, and CEO of the PenFed Foundation. "We are grateful to the State of Texas and community leaders for their support in establishing our new financial service center, and we look forward to growing PenFed's business throughout Texas for years to come."

PenFed is purchasing two contiguous sites to provide for its new growth opportunity. Site One will house PenFed employees starting in April and contains 12 acres with a two-story, 146,000-square-foot office building, structure parking for over 500 vehicles and surface parking for over 450 vehicles. Site Two consists of 16 acres that can accommodate growth with the potential to be developed into an additional 100,000 – 140,000 square feet of office space.

"PenFed's top priority for our new regional center was to locate in a pro-business, military-friendly state," said Rocky Mitchell, PenFed's Executive Vice President of Global Fixed Assets. "We ultimately chose San Antonio because the city provides a highly-skilled, diverse talent pool and world-class amenities to support PenFed's leading position as a destination employer."

PenFed's Dave Silvey, Senior Vice President, Regional Financial Service Center will lead the San Antonio financial service center. Silvey currently leads the Eugene, Oregon financial service center and has been with PenFed for over 26 years serving in branch, research and online services and merger and acquisition roles.

"PenFed's decision to expand their reach in San Antonio serves as yet another testament to what makes Texas great – our talented workforce and robust economic climate," said Texas Governor Greg Abbott.

To learn more about PenFed Credit Union and the services we offer, visit our website. To apply for positions at the new regional financial service center visit the PenFed Careers website.

About PenFed Credit Union
Established in 1935, Pentagon Federal Credit Union (PenFed) is America's second-largest federal credit union, serving 1.7 million members worldwide with $25 billion in assets. PenFed Credit Union offers market-leading certificates, checking, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services with members' interests always in mind. PenFed Credit Union is federally insured by the NCUA and is an Equal Housing Lender. To learn more about PenFed Credit Union, visit PenFed.org, like us on Facebook and follow us @PenFed on Twitter. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.

SOURCE PenFed Credit Union