Pentagon Federal Credit Union, Alexandria, Va., said its PenFed Realty unit has acquired Prudential Carruthers Realtors, a leading real estate broker in the Washington metro area with more than 800 brokers.
Financial terms of the transaction were not disclosed.
Pentagon Federal ranks among the top five CU mortgage originators in the nation, according to MortgageStats.com.
After the deal is completed PenFed Realty will employ more than 1,100 real estate sales professionals through 35 office locations in the Baltimore/Washington metropolitan area.
The $15 billion CU said the expansion will allow the credit union to better serve the real estate needs of its military and government customers.
PenFed opened for business in 2006 in the D.C. metropolitan area, and then established a foothold in the San Antonio market and other areas.
