ABA Says PenFed Merger a Threat to Small Credit Unions

PenFed maintains its mission to serve service members will not change following its "emergency merger" with Progressive CU.

By Jim DuPlessis | January 04, 2019 at 10:00 AM

The American Bankers Association threw shade on the NCUA's decision to approve an emergency merger that allowed Pentagon Federal Credit Union on Tuesday to acquire Progressive Credit Union, which had heavy losses from taxi medallion loans.

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ABA Says PenFed Merger a Threat to Small Credit Unions

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Jim DuPlessis

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