Branch History & Mission
At Penn Federal Credit Union, we have a rich history rooted in community service and member support. Established in 1970, our branch located at 829 Spruce St in Philadelphia, PA, has been dedicated to providing exceptional financial services to our members for over five decades. With a total membership of 6,637 and assets amounting to $56,196,501, we have grown alongside our community, adapting to its needs and challenges. Our mission is simple yet powerful: to offer accessible financial solutions while fostering a spirit of community and cooperation. We strive to empower our members through a variety of services including personal banking, auto loans, mortgages, credit cards with rewards, and business banking options. This commitment extends beyond just numbers; we aim to enhance the lives of those we serve by being a trusted partner in their financial journeys. While you can visit us at our main branch address of 829 Spruce St, Philadelphia, PA 19107 for all your banking needs during our operating hours from Tuesday to Friday, 8:30 AM to 3:30 PM, any official correspondence should be sent to the same address. As we look back on our journey from humble beginnings to becoming a cornerstone of the Philadelphia community, we celebrate not only our achievements but also the relationships we've built with our members. Our dedication to customer service remains unwavering; this includes offering mobile banking options and online services that make managing finances easier for everyone. We believe in giving back and regularly engage in partnerships that uplift local organizations and initiatives. This outreach reflects our values and reinforces our goal of strengthening the community around us. Join us at Penn Federal Credit Union today! Experience firsthand how we can support your financial goals while being an active part of your community. Together, let's build a brighter future!
Financial Strength
At Penn, financial security is not just a goal it's a promise. Our members count on us for stability, and we take that responsibility seriously. We are proud to share our financial strength with you, ensuring that your trust in us is well placed. Performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov, based on the latest results. With a net worth of $13,015,769, we maintain strong financial health, allowing us to offer better rates, lower fees, and enhanced member services. Our net worth ratio of 23.16% demonstrates a solid capital foundation, ensuring that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times. Members' savings are secured through $3,064,381 in share certificates and $5,553,590 in money market shares, offering stable and rewarding financial growth opportunities. Unlike traditional banks, we prioritize our members. With non-member deposits at $0, we ensure that our resources are focused on benefiting you through better loan rates, lower fees, and exclusive perks. Our commitment to serving our members is further reflected in our $12,036,561 in undivided earnings. These funds allow us to reinvest in innovative banking tools, stronger lending options, and enhanced security measures to serve our members better. With $146 in used auto loans and $19,285,275 in total loans and leases, our lending capacity supports members' financial goals across various sectors. Additionally, our $34,299 reflects our operational efficiency, enabling us to continue offering competitive loan rates and solid financial products for our members. We also take pride in having 10 full-time employees and 2 part-time employees, ensuring our branches are always ready to serve you with a knowledgeable, committed team. Net Shares (Funds available for lending and investments): $19,870. Total Share and Deposit Accounts: 9,553, showing a strong and growing member base that trusts us with their finances. Our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Penn is your trusted partner. Visit us at 829 Spruce St Philadelphia Pa 19107 or call (267) 534-5091 to learn more about how we can help you achieve your financial goals.
