PenFed Tysons Corner Credit Union News

PenFed is a well-established credit union with a strong presence in the Tysons Corner area. It was founded in 1935.

PenFed has a long history of serving its members, with over 1.9 million members nationwide.

PenFed Credit Union has acquired Tysons Overlook, an 11-story office tower in the heart of Tysons, to serve as its new corporate headquarters.

The new headquarters will accommodate up to 500 employees and provide room for PenFed to grow over the next 15 years.

PenFed experienced extraordinary growth in 2015, defined by $1.6 billion in asset growth and the hiring of more than 600 new employees across all of its locations.

The new headquarters is located at 7940 Jones Branch Drive in Tysons and will be a world-class facility that inspires employees to come to work with other teammates who care about something bigger than themselves.

PenFed manages $21.3 billion in assets and employs more than 800 people in the Washington metropolitan area.

PenFed's president and CEO James Schenck stated that the new headquarters will enhance operational efficiency and sustain growth of intellectual capital to keep pace with members' needs.

The credit union has no plans to close or sell its current headquarters building in Alexandria, Virginia, which will continue to support mortgage processing and other operational needs.

Rocky Mitchell, executive vice president for global fixed assets at PenFed Credit Union, will orchestrate the move to the new headquarters in 2016.

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