Pen Air Credit Union Converts To A State Charter. Here’s What That Means.

October 2, 2022

Pen Air Federal Credit Union members approved converting to a state charter.  As of October 1, the credit union is now known as just Pen Air Credit Union.

With the conversion to a state chatter, the credit union can pursue growth opportunities across 17 counties, ranging from Mobile County in Alabama, all the way to Leon and Wakulla Counties in Florida. Membership can be opened to anyone who lives, works, worships, or goes to school in the approved service area.

“Pen Air is currently celebrating our strongest financial position in our history,” Pen Air Credit Union’s President and CEO Delbert Lee Morgan said. “Changing our charter and expanding the geography we serve is an important step to ensure we continue attracting new members. We remain committed to our existing members who have helped us grow and prosper, while expanding our ability to enhance people’s lives across a larger geographic area.”

Pen Air remains federally insured by the National Credit Union Share Insurance Fund (NCUSIF) which is managed by the NCUA and backed by the full faith and credit of the U.S. government.

The Pen Air Federal Credit Union Board of Directors unanimously approved a recommendation to change from a federal charter to a state charter. Pen Air is a not-for-profit institution and therefore the bylaws required a member vote to approve a change to the charter.

Pen Air now will be able to operate in the following counties under the new state charter:

  1. Escambia, Florida
  2. Santa Rosa, Florida
  3. Okaloosa, Florida
  4. Walton, Florida
  5. Bay, Florida
  6. Washington, Florida
  7. Holmes, Florida
  8. Jackson, Florida
  9. Calhoun, Florida
  10. Gulf, Florida
  11. Franklin, Florida
  12. Liberty, Florida
  13. Gadsden, Florida
  14. Wakulla, Florida
  15. Leon, Florida
  16. Mobile, Alabama
  17. Baldwin, Alabama

Comments

10 Responses to “Pen Air Credit Union Converts To A State Charter. Here’s What That Means.”

  1. Curious on October 3rd, 2022 2:32 pm

    @ concerned citizen
    Navy Federal has branches in North Escambia now??? Where are they located?

  2. RaD on October 2nd, 2022 8:19 pm

    “Pen Air is currently celebrating our strongest financial position in our history,” Pen Air Credit Union’s President and CEO Delbert Lee Morgan said.

    I am a little confused why if Pen Air is in the strongest financial position in its history, why the need to expand. I am doubtful it is for the members and loans will not get cheaper and CD’s will not start paying more. My guess is it is for those serving on the board and in executive management positions as a larger credit union correlates to increased pay.

  3. Cantonment Dirt Dobber on October 2nd, 2022 1:00 pm

    My dream is to have a ATM machine in my home.
    But until then, it sure would be nice if they “expanded” their coverage to install a kiosk in Cantonment.
    Say it with me!
    KIOSK IN CANTONMENT!!

  4. fisherman on October 2nd, 2022 10:37 am

    There were not enough people using the Century Branch that’s why they closed.As for the ATM machines being removed is for the same reason.I like the convenience of using the new branch on Pensacola Blvd.The Navy Federal branch on Davis is a mad house it’s in a terrible location.You will never please everyone and I did not vote for the change.It would be a pain in the butt to move my funds to another financial institution.

  5. Concerned Citizen on October 2nd, 2022 10:10 am

    I’m with Gone soon, Navy Federal here I come. Pen Air abandoned all of us on the North end of the county, sent all our down home tellers too that hell hole in Pensacola.

  6. Century on October 2nd, 2022 9:29 am

    pen air needs more than one ATM sometimes lines are long people dont need to wait that long to go to that one ATM they should left the other two open. Century gets left out of everything.

  7. Gone soon on October 2nd, 2022 9:19 am

    Sunrise Photo, Have you ever attempted to do a business transaction at the “Live Teller” in Century? If you do for your personal accounts or own a small business, using this beast of a transaction machine is not user friendly. It will frequently reject cash and misreads checks that are deposited into it. Also when you drive up to use the ATM, I’ve had to wait for an extraordinary long time to speak with their “live teller” who seems to have the ignore button on. This is not a customer friendly way for PenAir to conduct business with one’s members. Answer us this, when will All In Credit Union open its doors: December, January, or never?

  8. We’re gone on October 2nd, 2022 8:54 am

    With navy federal now in town Pen Air didn’t get all the financial attention it used to so now they’re desperate for new members. We stayed on with them because they were still somewhat exclusive on membership qualifications but no more. Now if you can breathe you can do business there……like gulf winds. We’ll be moving our funds from there soon.

  9. Sunrise Photo on October 2nd, 2022 8:05 am

    Gone soon: You do realize that All In Credit Union is reopening this branch and Pen Air members will be transact there as in the past. Per the 9/22/2022 story here on North Escambia:

    “Pen Air members will be able to use the All In Century branch to conduct transactions on their existing accounts in a face-to face setting. Pen Air’s recently upgraded ‘LIVE’ machine will remain, allowing members to manage their account through two-way video technology while also providing extended service hours and 24/7 ATM access.”

    While not the solution you may desire, at least you can still transact business there.

  10. Gone soon on October 2nd, 2022 2:03 am

    Expanding to other areas? What about here in North Escambia where PenAir abandoned the community and its customers by closing the Century branch? And now, PenAir has only a single ATM for financial transactions. May the fleas from a thousand camels infest the board members’ armpits for their decision to cut ties with us

Written by William Reynolds · Filed Under News