![PenFed Sells $460 Million in Securities Backed by Auto Loans PenFed Sells $460 Million in Securities Backed by Auto Loans](https://bestinvestmentsnow.com/wp-content/uploads/https://images.cutimes.com/contrib/content/uploads/sites/413/2022/01/Pentagon-Federal-Credit-Union-e1643408335710.jpeg)
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![Pentagon Federal Credit Union headquarters. (Source: AdobeStock)](https://images.cutimes.com/contrib/content/uploads/sites/413/2022/01/Pentagon-Federal-Credit-Union-e1643408335710.jpeg)
Pentagon Federal Credit score Union introduced Monday it bought $460.three million in securities backed by prime auto loans — its first automotive ABS sale and the third amongst credit score unions.
PenFed of Tysons, Va. ($36.7 billion in belongings, 2.eight million members as of June 30) is the nation’s third-largest credit score union and the vendor of the most important batch of securities based mostly on credit score union auto loans.
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