# PENTAGON
MCLEAN, VA · NCUA charter 227 · asset band >$10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/pentagon-227

Who the members are: federal charter, multiple common bond, organized 1935. 2,759,060 members of 342,407,899 potential (0.8% of the field); checking penetration 21% (share draft accounts per 100 members); loans per 100 members 47.

**Verdict on the desk:** this could be *ordinary*. Composite score 2 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $29.40B |
| Members | 2,759,060 (-2.7% YoY) |
| Full-time staff | 2776 |
| Net worth | $3.08B |
| Net worth ratio | 10.5% (p54 of band) |
| ROA (annualized) | 1.26% (p75 of band) |
| Total delinquency | 1.33% (p83 of band) |
| Net charge-offs (annualized) | 1.22% (p83 of band) |
| Loans / shares | 89% (p54 of band) |
| Cash / assets | 3.0% |
| Borrowings / assets | 2.25% |
| Net interest margin | 2.89% (p38 of band) |
| Operating expense / assets | 2.61% (p62 of band) |
| Vehicles % of loans | 16% (p38 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 9% |
| Third-party paper % of net worth | 299% (p92 of band) |
| Vehicle delinquency | 0.39% (p21 of band) |
| Vehicle NCO | 2.27% (p92 of band) |
| Repossessed % of vehicle book | 0.13% (p71 of band) |
| Real estate % of loans | 62% |
| Credit cards % of loans | 8% |
| Unsecured % of loans | 11% |
| Commercial % of net worth | 27% |
| Core shares % of member funds | 52% |
| Certificates % of member funds | 33% |
| Average share balance | $6,265 |
| Participations bought / yr | $0 |
| Participations sold / yr | $103.6M |
| Participations outstanding | $29.5M |
| Loans outstanding per 100 members | 47% |
| Loans granted per 100 members, annualized | 5% |
| Average loan balance | $17,301 |
| Loans granted, annualized | $6.99B |

## Participation posture (from the same filings)

Bought $0 and sold $103.6M in the latest annualized quarter; $29.5M outstanding purchased (1.0% of net worth), $840.8M sold and retained. Sold in 7 and bought in 0 of the last 8 quarters. Shares -6.7% year over year.

## Flags firing in the latest filing

- **assets shrinking** (`shrink_assets`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 2 | loans>95% of shares, leaning on borrowings |  |
| 2016-06 | 2 |  |  |
| 2016-09 | 2 |  |  |
| 2016-12 | 3 | net worth falling |  |
| 2017-03 | 3 |  |  |
| 2017-06 | 2 |  | net worth falling |
| 2017-09 | 3 | delinquency rising |  |
| 2017-12 | 3 |  |  |
| 2018-03 | 3 |  |  |
| 2018-06 | 3 |  |  |
| 2018-09 | 2 |  | delinquency rising |
| 2018-12 | 3 | net worth falling |  |
| 2019-03 | 4 | delinquency 2x band, delinquency rising | net worth falling |
| 2019-06 | 4 |  |  |
| 2019-09 | 4 |  |  |
| 2019-12 | 4 |  |  |
| 2020-03 | 2 |  | delinquency 2x band, delinquency rising |
| 2020-06 | 4 | net worth falling, charge-offs p90 |  |
| 2020-09 | 3 |  | net worth falling |
| 2020-12 | 4 | delinquency 2x band |  |
| 2021-03 | 4 |  |  |
| 2021-06 | 4 |  |  |
| 2021-09 | 4 |  |  |
| 2021-12 | 5 | net worth falling |  |
| 2022-03 | 6 | 3rd-party paper>100% NW |  |
| 2022-06 | 6 |  |  |
| 2022-09 | 5 |  | net worth falling |
| 2022-12 | 5 |  |  |
| 2023-03 | 5 |  |  |
| 2023-06 | 6 | assets shrinking |  |
| 2023-09 | 6 | repo signal | assets shrinking |
| 2023-12 | 5 |  | delinquency 2x band |
| 2024-03 | 3 | delinquency 2x band | loans>95% of shares, leaning on borrowings, repo signal |
| 2024-06 | 4 | assets shrinking |  |
| 2024-09 | 4 | loan book shrinking | delinquency 2x band |
| 2024-12 | 4 |  |  |
| 2025-03 | 4 |  |  |
| 2025-06 | 4 |  |  |
| 2025-09 | 5 | members leaving |  |
| 2025-12 | 3 |  | loan book shrinking, members leaving |
| 2026-03 | 2 |  | charge-offs p90 |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-05-21 [PenFed Credit Union Promotes William Heyer to EVP, General Counsel - PR Newswire](https://news.google.com/rss/articles/CBMivgFBVV95cUxOODRhNkd3UnplV3ZhdHB3aUMwYWhwRTBzbkdoMmxYVWNXaG01MFA0bGhDLUVrcVRMM3ZqX3ljaDVJUEhvWTBPYzJ2Y1JuNDd6a0hfQV90ZGxWQVNkankxUGRWZDJzUnAtc2Z2NmwtVnN5cmpTQ0V1bWZVR0k3bV83bDdmN1FjeHRLa0hMcEJGMHNmeWRia3p2RHhyenRlcENBU3FZdDZtRDFlbDE5NldXd3dLVC1HOThKZHNyVGtB?oc=5) · PR Newswire
- 2026-05-12 [Pentagon Federal Credit Union (PenFed) review 2026: A top military credit union anyone can join - Yahoo Finance](https://news.google.com/rss/articles/CBMioAFBVV95cUxNWEZWUVhMV1RiYVYyV3ozd3ZDMmN4Z0MzdHBPZEU2TktqS2dtMEdhdmtDdG11WE1ycW1yVU9yWS04YVJIZkg4cHR0RUhKSTE4T3BvNnQzZTFiMzN0TjRyWDdEemF3aUo2NWhMUV9vZUxnUjl0NHd5aGM0dXlHeHYzbG9Wd0x4bWhlYlBOLTgwS0ZKUVZjVmI1amppbHItQmVH?oc=5) · Yahoo Finance
- 2026-01-29 [PenFed Mortgage Review 2026 - LendingTree](https://news.google.com/rss/articles/CBMic0FVX3lxTE5nQmF3My1kaWVWVDdEZC1yTzNhUWVCUDRyMTU5V2NObmRfc3lEYkY5RXN4angxcm5tUE9QY3lfejFiVjdxUDZsNzJzZTFzdXNGbnlxZDZZMTBUcWN0dDVPbU1NcEpISnVnelpjVlNFQ1AwelU?oc=5) · LendingTree
- 2026-05-05 [The 10 Largest Credit Unions In The U.S. - Bankrate](https://news.google.com/rss/articles/CBMidEFVX3lxTFA4ZGZEYmpOV1llV1R3VDk5T1pYcURFb01HcEc0VTQ2RlFfajJfa1UtMi1HRGN6ZDFsaXUzcEVsaDlKZDE5NW9YTkgyWU82V3lWT25sYi1SOXlNSWhlT0p0N1JLbzFKaWJRc2N5dHozMndDbVI0?oc=5) · Bankrate
- 2026-06-23 [PenFed Credit Union Mortgage Review 2026 - NerdWallet](https://news.google.com/rss/articles/CBMihgFBVV95cUxNT1pxc18wSVF1ekY4d2FMRFNSUGNoNUhZSUNxckdobU9fNEkxUkVXdW5OM2tlbk0zamdQNXN5Um90bzFDazFqLTNTbmNZWHVpRS1zd0ZuZ09uM0hWRkF3R3ZTTkxYSkpMakNJX1R2dktqa28yMWxOQ3hwSWRnVW1kLS0tQXUyQQ?oc=5) · NerdWallet
- 2025-11-07 [PenFed Credit Union offers interest-bearing checking, savings, and share certificates—but is it right for you? - Fortune](https://news.google.com/rss/articles/CBMiZkFVX3lxTE1uQW5hTzZ3Y0k4SUVTazRJYTg2MHNpNzFnUWlTVHRNd0xxSERuWDcwVThRMWt1amp5TXdsTTRVSnQ5bVhyZzNMSTJsSWFzTFRtLUJHOFRnVTFrNXZENTA4ZXd1eldmZw?oc=5) · Fortune
- 2025-12-18 [Federal Appeals Court Denies PenFed’s Petition Over Class Action Lawsuit - CUTimes](https://news.google.com/rss/articles/CBMiqwFBVV95cUxPTUFJMTRwODZSLUQ1QVJ3ZmZKaElPQ05uVXdNR3BwTTJVdm9GV3k2RWRuM1BNS19JdXBjbGdvR1d2Rk1zMENYYWcwQk9qWDlIWnRkSElFVWFuOER3M0xnZGJuMzgzYS1PN1hWTFloU2R4Y2JpMGdmTkVaWmJEd2NfZFlXbjNCTGJfc0dvSWw4RmU0MFZ0Z2ladFJIVVZKMTYwZUU5S1Y1R2FiZXc?oc=5) · CUTimes
- 2025-11-11 [Federal Judge Certifies Class Action Against Pentagon FCU Over Alleged ‘Pay-To-Pay’ Fees - cutoday.info](https://news.google.com/rss/articles/CBMiwAFBVV95cUxNRGpqYUozQ2J0YWFfS2FScjZyd1FkT2JuVmRfTWdjSnEtQ0VFZXg4OWpxNTZldjMzMXcxSUxVYU15NVZ2X2xRX01CM2N1OExNLUt4TUMxM3B0d0tDNkY4N3BMeG1Wel9QRFRsWUVpSHZQNl9wTzZTdkQyQUdZNDhENmJXVWM2TG1Kc2xGSUVVN2Z2Q3o1YmZnT1ItdS1ZbGwybkVYNE0tbVhHU0RnaWlEcjBFTzlLNEZCYVFNalJWUTY?oc=5) · cutoday.info

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=227 (every cell opens its formula and NCUA account codes; the News tab is the same search)
- Latest row, JSON: https://getbookiq.com/cu-intel/data/summary.json · history: https://getbookiq.com/cu-intel/data/h/35.json (key "227", columns cycle, assets, loans, shares, networth, nwr, roa, total_dq_pct, total_nco_pct, vehicle, veh_pct_loans, indirect, ind_pct_veh, ind_veh, ind_re, ind_comm, ind_other, ind_pct_loans, loans_n, granted_n_ytd, granted_ann, loan_pen, granted_pen, avg_loan_bal, loans_per_fte, veh_part, tp_pct_nw, veh_dq_pct, veh_nco_pct, repo_pct_veh, members_yoy, ltos, cash_pct, borrow_pct, nim_pct, opex_pct, risk_score, members, fte, cash_total, invest_sec, allowance_eff, int_income_ytd, int_exp_ytd, provision_eff_ytd, nonint_income_ytd, nonint_exp_ytd, net_income_ytd, n_flags, re_pct_loans, cc_pct_loans, comm_pct_loans, cert_pct_shares, core_pct_shares, part_buy_ann, part_sell_ann, pot_members, sh_draft_n, chk_pen, fom_pen, flags)
- Participation history: https://getbookiq.com/participation-desk/#cu=227
- Field definitions: https://getbookiq.com/dictionary/#cu-ltos and the rest of the credit union dictionary
- Source: NCUA 5300 call report bulk files. Income fields are annualized by cycle month (Mar x4, Jun x2, Sep x4/3, Dec x1). Percentiles are within the asset band in the same quarter.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide