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PenFed Credit Union Expands Investment Services in Puerto Rico

By on December 12, 2019

SAN JUAN — Pentagon Federal Credit Union (PenFed), the second largest federal credit union, and CUNA Mutual Group, announced Thursday an expanded partnership offering wealth management and investment services to more than 200,000 PenFed members in Puerto Rico through CUNA Mutual Group’s affiliate, CUNA Brokerage Services Inc. (CBSI).

PenFed members have access to financial planning, investment management, and trust and fiduciary services, among others. PenFed Wealth Management can connect consumers with financial advisers that are registered representatives of CUNA Mutual.

CBSI is a leading broker-dealer and registered investment adviser serving the credit union industry and offers investment and insurance solutions through some 285 credit union programs, 430 advisers, and more than $25 billion in assets under management.

PenFed has financial centers in San Juan, Fort Buchanan and Hatillo, and is slated to open an additional financial center in Ponce next year, as well as expand its financial literacy program.

“PenFed is pleased to extend investment services to our members in Puerto Rico to help them preserve, manage, and build their finances through all stages of life,” said Shashi Vohra, PenFed senior executive vice president and president, affiliated businesses. “CUNA Mutual Group and PenFed share a common mission that centers around helping people plan for and secure their financial futures.”

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