Building on the company's impressive first-quarter results for 2026, PenFed Credit Union, one of the nation's largest credit unions, reported strong financial results through the second quarter of 2026. PenFed President and CEO James Schenck credits the company's performance to a combination of competitive rates, disciplined growth, digital innovation and exceptional customer service. "PenFed's second quarter results show the power of our flywheel in action," said James Schenck, PenFed President and CEO. Total cash and investments measured 17 percent of total assets, highlighting the credit union's strong liquidity. Earlier this year, PenFed touted its AI-driven relationship with SalesForce to enhance member experience and contributing the company's ability to deliver competitive rates rates, personalized service and a unified banking platform across all of its channels.