AUGUSTA, Ga.–Members of Augusta Metro FCU here have voted in favor of merging into the country’s second-largest federal credit union, Pentagon Federal Credit Union in Tysons, Va.
The $115-million Augusta Metro FCU has 22,000 members.
“This is PenFed’s second partnership in Augusta and we are very proud to welcome the members and employees of Augusta Metro Federal Credit Union to the PenFed family,” said PenFed President and CEO James Schenck in a statement. “PenFed is committed to providing exceptional value and first-class service to our loyal members. We are confident that this alliance will help Augusta Metro’s members and any new members do better financially. We look forward to serving them and being an active member in this great community,” said Schenck.
Augusta Metro’s field of membership includes Fort Gordon, home to many of the nation’s cyber-security efforts.
“This was the best long-term strategic decision for Augusta Metro,” stated Sherry Saxon, Augusta Metro’s CEO. “PenFed is one of our nation’s strongest credit unions and we believe that the immediate value to our members and the career opportunities for our staff are very compelling.”
The $21-billion PenFed has 1.4-million members.