Texas Governor Greg Abbott announced Pentagon Federal Credit Union (PenFed) will open a new Regional Financial Center in San Antonio, pending local incentive approvals. The new facility will create 571 new jobs and more than $48 million in capital investment.
Alexandria, VA-based PenFed’s James Schenck says, “PenFed’s top priority for our new regional center was to locate in a pro-business, military-friendly state. We ultimately chose San Antonio because the city and the surrounding area provide a highly-skilled diverse talent pool and world-class amenities to support PenFed’s leading position as a destination employer.”
The location of the facility is undetermined at this time, though the credit union plans to take about 300,000 square feet on 20-plus acres. It will house executive management positions in research, IT, mortgage and loan operations, service center operations, collections and HR.
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