Pentagon Federal Credit Union, Alexandra, Va., said it plans to open at least ten additional offices for its PenFed Realty affiliate by yearend.
In total, the $15 billion CU — one of the largest credit union mortgage lenders in the nation — plans to hire 1,000 agents for this 'credit union service organization' or CUSO.
PenFed Realty, which operates five offices with 175 agents, plans to open four offices in Woodbridge and Fort Belvoir, Virginia, this spring, as well as Potomac and Fort Meade, Maryland. Another two offices in Alexandria and McLean, Virginia will follow later in the year. Additionally, two new office locations are slated to be added in the San Antonio area and several in the California market during the latter half of the year.
Over the past few years, PenFed Realty has increased its presence in multiple states by using a model in which it offers clients a 1% rebate on all buyer transactions, and a 5% listing commission to sellers while providing full Realty services.
