With an investment of about $2 million, PenFed Credit Union expanded its financial center in the San Patricio area of Guaynabo, PR and plans to establish a new customer service center in Puerto Rico starting in 2022, the financial institution said.
The investment will make it possible to expand services to members and increase the workforce by more than 30 jobs.
“PenFed is proud to expand and improve our services to the Guaynabo community and throughout Puerto Rico,” PenFed Chief Executive Officer James Schenck said in written statements. “The best way to serve Puerto Rico is by creating jobs and helping people achieve their financial goals.”
PenFed, insured by the National Credit Union Administration (NCUA), is the largest credit union in the United States and in Puerto Rico, it already has over 250,000 members. The institution, which already marks about 15 years since its arrival on the island, has branches and financial centers in San Juan, Fort Buchanan, Hatillo and Ponce; and since the hit of Hurricane María some four years ago, it has invested more than $8 million in initiatives to strengthen its services on the island and help the economic recovery of Puerto Rico.
With this upgraded project, PenFed increases the footage and capacity of its financial center on the island to about 11,000 square feet. Meanwhile, next year, the federal cooperative plans to open a bilingual service center in Puerto Rico to serve its members. Such a project should employ an extra 24 people.
