PenFed Credit Union Highlights Strong First Quarter Of 2025

Amid tough economic conditions, National Rifle Association partner PenFed Credit Union managed to pull off an impressive first-quarter showing in 2025, with the company touting increased earnings, capital and liquidity, according to a PenFed press release.

"PenFed is proud to report it exceeded its first quarter business goals. Compared to the first quarter of the prior year, current quarter's net income was $59.3 million versus $23.1 million, an increase of 156 percent; regulatory capital was 10.05 percent versus 9.26 percent, and liquidity increased from 12.6 percent to 14.5 percent," PenFed President and CEO James Schenck said. "PenFed is committed to supporting our members with world class financial products at great rates through all economic cycles as it celebrates its 90th anniversary this year."

Other highlights from the company's first-quarter results include a regulatory net worth capital ratio of 10.05 percent, which is an increase of 79 basis points year-over-year. PenFed closed its first quarter with more than $939 million of capital in excess of required regulatory net worth to be well capitalized. HELOC volume also increased 14 percent, from $268.9 million to $306.8 million.

Aside from its earnings and growth, the company also continued to fund charitable causes, donating more than $300,000 to 11 different organizations in the first quarter of 2025. Notable among PenFed's charitable endeavors is the company's focus on helping veterans, including several initiatives sponsored and supported by the PenFed Foundation.

Schenck noted that he anticipates changes from the Federal Reserve Board that will improve conditions for borrowers. "PenFed is anticipating the Federal Reserve Board will lower its benchmark interest rate, which should apply downward pressure on loan and deposit rates in the back half of 2025 across most financial institutions," he said. "This may prove to be an opportunity for borrowers to take advantage of lower loan rates."

To learn more about PenFed Credit Union, visit the company's website here.