A tale of two behemoths: Navy FCU grows while PenFed shrinks
Assets, membership and earnings were all on the rise for Navy Federal at the end of the third quarter of 2024 while PenFed saw declines in all of those categories.
The two Washington, D.C.-based, mega-credit unions have seen markedly different results in the past year.
Among the highlights, according to third-quarter call report data recently released by the National Credit Union Administration, was Navy Federal Credit Union crossing the 14 million member mark.
The world’s largest credit union now boasts 14,045,179 members.
That is nearly a 7% increase compared to a year earlier.
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