PenFed opens Humacao branch, expands investment in Puerto Rico
PenFed Credit Union has expanded its presence in Puerto Rico with the opening of a new financial center in Humacao, located at Triumph Plaza in Barrio Río Abajo.
The expansion adds 17 jobs and reflects the credit union’s ongoing investment in the island, where it spends approximately $7 million annually, according to company officials.
“PenFed is proud to expand our service to the Humacao community and all of Puerto Rico,” said James Schenck, chief executive of PenFed. “The best way to serve Puerto Rico is by creating jobs and helping people achieve their financial dreams.”
The new branch offers loans, checking and savings accounts, credit cards and live teller support.
With the opening, PenFed now operates six financial centers in Puerto Rico — Fort Buchanan, Ponce, Hatillo, Mayagüez, San Patricio and Humacao — in addition to a bilingual service center in Guaynabo. The credit union employs 145 people on the island in consumer banking and mortgage-related roles.
PenFed also continues its five-year partnership with EVERFI to provide financial education to more than 4,000 students at 27 schools in Puerto Rico.
