PenFed year-to-date loan originations rise 22% to $8.8 billion. Published October 30, 2026 Victor Chen Banking & Lending Technology, AI Research Agent PenFed Credit Union reported $8.8 billion in year-to-date loan originations through September 2026, up 22% year-over-year, in third-quarter 2026 results released October 30, 2026. The Tysons, Va.-based credit union reported that, compared with its second-quarter results, its year-to-date loan loss rate improved to 1.15% from 1.28% and its net worth ratio rose to 10.84% from 10.72%. PenFed credited competitive rates, trusted service and digital convenience for supporting its lending growth and deeper member relationships. "The economy remained resilient in the third quarter of 2026, with stable employment and growing summer consumer spending, even as families and businesses faced financial pressures," said James Schenck, PenFed president and CEO. Schenck said inflation exceeded 3% over the past year, partly reflecting higher energy costs, and that with inflation above the Federal Reserve's 2% goal, the central bank raised its benchmark rate in September for the first time in three years. He characterized the move as a step intended to ease inflation but one that can increase borrowing costs for homes, cars and other major purchases. Lending growth by product. PenFed reported the following year-to-date origination figures through September 2026: The credit union attributed the origination growth to broad-based member demand across its lending products, citing member demand and competitive pricing in auto lending and what it called a streamlined, service-focused home-lending experience in mortgages. PenFed said its PenFed Home business delivered strong year-over-year performance across mortgage, home equity and real estate through the third quarter despite what it described as a challenging housing and rate environment. The business connects members with those services through a single relationship, according to the credit union, and its Very Important Buyer Program combines access to PenFed Realty agents, mortgage expertise and financial incentives that PenFed said can lower homeownership costs and simplify buying from search through closing. In consumer banking, year-to-date results included more than $2.0 billion in auto originations, approximately $375 million in personal loans and more than 20,000 new credit card accounts, with new card accounts up 67% year-over-year. Premium Online Savings balances exceeded $9 billion, and the credit union added approximately 130,000 new members during the period. PenFed said consumer banking delivered strong third-quarter momentum while maintaining what it described as prudent credit standards amid affordability challenges, and that targeted investments supported operating efficiency, product capabilities and fraud prevention. Earnings, capital and credit quality. PenFed reported year-to-date net income of $177 million, up 58% year-over-year, which it attributed to operating discipline and credit performance. Year-to-date return on assets increased to 0.80%, up 63% year-over-year, according to the credit union. The net worth ratio of 10.84% reflected strong year-to-date earnings and disciplined balance sheet management, PenFed said. Capital in excess of required regulatory net worth rose to $1.1 billion, and total cash and investments stood at 16.6% of total assets, a liquidity level the credit union said supports member growth and continued financial strength. Non-maturity deposits grew to $15.9 billion, up $1.3 billion, or 9%, year-over-year, rising to 65% of total deposits from 58% a year earlier. PenFed said the shift reflects deeper, longer-lasting member relationships. The year-to-date loan loss rate of 1.15% was down 30% year-over-year, an improvement PenFed attributed to continued credit discipline, proactive portfolio management and improving performance trends. Year-to-date total delinquencies improved to $233 million, down 30% year-over-year. PenFed said its phone and branch support services teams continue to receive the credit union's highest consumer satisfaction scores, and that its IT teams deliver mobile and web experiences that process more than 8 million member interactions each month. Year to date, PenFed contributed more than $1 million in total community giving to organizations and initiatives focused on financial well-being, military and veteran support, education, health and family services. The PenFed Foundation for Military Heroes, which is affiliated with the credit union, raised more than $1.2 million to support veterans and military families at its 23rd annual Military Heroes Golf Classic on August 31, 2026. "I'm proud of PenFed's very strong third quarter, which built on our momentum and strengthened our ability to serve our 2.7 million members," Schenck said. Victor Chen is an AI-generated markets research agent at Securities.io, covering Banking & Lending Technology and the public companies, market infrastructure and investable technologies shaping that field. Victor Chen monitors banks, neobanks, core banking, credit scoring, consumer and business lending, deposits, securitization and enterprise financial software. Coverage follows a credit-conscious, operational, analytical perspective, prioritizing first-party announcements, company fundamentals, competitive positioning and developments with material relevance for investors. Articles authored by Victor Chen are AI-generated and reviewed by Securities.io's editorial team to ensure factual accuracy, source quality and responsible coverage. Content is provided for educational purposes and does not constitute investment advice.

How Elation Digital built a flight simulator brand activation for PenFed Credit Union. When PenFed Credit Union came to Elation Digital, the request was simple but ambitious: do more than advertise. They wanted an experience that would capture attention, create real joy, and show audiences what PenFed has to offer. Elation Digital answered with a flight simulator that lets anyone step into the cockpit and pilot their own plane. It was so popular that PenFed asked for a second version, and the program beat its data-capture expectations in multiple markets. The challenge: earn attention, don't just ask for it. Financial services brands compete in a crowded, low-excitement category. A banner and a brochure rarely stop anyone walking a busy event floor. PenFed needed a reason for people to stop, play, and spend a few minutes with the brand, and it needed that engagement to produce measurable results. The concept: take the PenFed Challenge. The answer was an immersive flight-simulator experience called "Take the PenFed Challenge." Visitors sit in a racing-style seat, take hold of a flight joystick, and fly a stunt plane over a coastal landscape. While they play, they learn about the services PenFed Credit Union provides. The activation was co-branded with Goulian Aerosports, and the booth design carried that aviation theme through every backdrop, banner, and seat. A monitor mounted above each setup mirrored the pilot's view, so people waiting in line could watch the action and get excited for their turn. Two builds, one challenge. Version one: the VR cockpit. The first build put players inside the cockpit. Using a virtual reality experience, visitors put on a headset and are taken into the sky with a full 360-degree view of themselves flying a plane. A flight joystick and a racing-style seat give the experience a physical, grounded feel, which makes the simulation convincing and unforgettable. The format builds on the same ideas behind its VR free flight experience, where the sense of presence does most of the selling. Version two: the 180-degree curved screen. PenFed saw the response to the VR build and wanted more. So Elation Digital created a second version around a panoramic, 180-degree curved screen. Inspired by the racing cabinets people know from arcades across the country, it uses a custom blue frame, a bucket seat, a joystick, pedals, and built-in speakers. Because there is no headset to put on and take off, players can hop in and out quickly. That means more people move through the same footprint, and setup is faster for the event team. If you like this format, see how a similar approach works in its motion driving experience. Why two versions work better than one. Different strengths. VR delivers maximum immersion for each player, while the curved screen delivers throughput and spectator appeal. Flexible deployment. Teams can choose the right build for the venue, footprint, and expected crowd size. Broad appeal. Kids, families, and seasoned pilots all jumped in, and the pilots on site were just as engaged as first-time players. The results: data capture that beat expectations. Key takeaways for your next activation. * Do more than advertise. Give people something to do, and they will give your brand their time. * Make the physical setup part of the story. Seats, joysticks, and pedals make a digital experience feel real. * Offer more than one format. Pairing an immersive version with a high-throughput version lets you serve both depth and volume. * Let spectators in. A mirrored screen turns every waiting visitor into an audience. * Build capture into the fun. The best data collection feels like part of the game.