In a message to PenFed Credit Union members, PenFed CEO James Schenck highlighted the company’s three successful quarters in 2025, noting that the company had maintained strong financial performance while also meeting increased demand.
“PenFed’s third quarter results demonstrate the strength of our diversified balance sheet, disciplined lending strategy, and unwavering focus on our members,” Schenck noted in the message. “We continue to grow capital, generate increased earnings, and deliver great rates. Since the beginning of the year, PenFed has paid savers over $470 million in dividends while also meeting your increased demand for auto loans up 28 percent, year over year, and home equity lines of credit up 15 percent, year over year.”
Schenck also noted general trends within the U.S. economy, too, highlighting estimated growth of 1-2 percent in the third quarter of 2025. Consumer spending has remained steady, while inflation has eased to 3 percent, which is down from its peak in 2022, recorded as 9 percent. Despite these positive developments, he noted that hiring has slowed and unemployment continues to sit just above 4 percent.
“These trends suggest the economy is slowing enough to ease price pressures but [is] still strong enough to avoid a downturn,” Schenck said.
Schenck also noted the Federal Reserve’s interest rate cut in September, the first rate reduction in 2025 and a move in line with the Fed’s mandate to both lower inflation while also maximizing employment numbers. Many analysts say that further rate cuts are still to come, which can reduce borrowing costs for consumers, but the timing of such cuts is still to be determined.
In addition to its strong growth and financial position, PenFed has found room to invest in its members and local communities with outreach projects. In the first three quarters of 2025, PenFed donated more than $1.1 million to 45 charitable organizations. The PenFed Foundation for Military Heroes is also sponsoring a fundraising raffle to support its mission of veteran investment, advocacy and outreach. You can find the raffle details here.
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