Pentagon Federal Credit Union Expanding in Omaha

Omaha, Neb., July 8, 2009 - Pentagon Federal Credit Union representatives announced today the organization has entered into an agreement to acquire a second location, the former ADT building at 502 Fortune Drive in Papillion. The new facility, representing a $4 million investment, will allow PenFed to recruit potential employees from two different parts of the metro and, ultimately, more than double its employee base in the Omaha area.

The Greater Omaha Economic Development Partnership has a long-standing relationship with PenFed dating back to 1992 when they were investigating options to expand operations. At that time, the economic development team worked with PenFed's Washington D.C. headquarters enticing them to select Omaha as the location of choice for its expansion. Prior to that, PenFed operations were located in D.C., Oregon and Texas. What started then as 40 employees in 16,000 square feet of space, grew to 33,000 square feet and 140 employees at 132nd and Fort streets. The Partnership was deeply involved in helping with the expansion and relocation efforts. Today, PenFed has more than doubled to 284 employees and with the new space they will be able to continue to grow in the Greater Omaha area.

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