PenFed Credit Union Reports Strong Q3 2026 Growth with $8.8 Billion in Year-to-Date Loan Originations
PenFed Credit Union reported significant year-to-date growth through the third quarter of 2026, driven by a 22% increase in loan originations totaling $8.8 billion. The credit union saw particularly strong performance in mortgage lending, which rose 65% year-over-year, and auto loans, which grew 45%. Despite a challenging economic environment characterized by inflation above 3% and recent Federal Reserve rate hikes, the institution expanded its member base by approximately 130,000 new members. Financial stability remains a core strength for the organization, with net income rising 58% year-over-year to $177 million. PenFed also improved its credit quality, reducing its loan loss rate from 1.28% to 1.15%, and strengthened its capital position with a net worth ratio of 10.84%. These results reflect the success of their member-focused strategy in maintaining liquidity and deposit growth amidst shifting interest rate landscapes.