Salesforce Powers Digital Financial Services and Member Experience Transformation at PenFed Credit Union

SAN FRANCISCO and TYSONS, Virginia, June 17, 2020 /PRNewswire/ — Salesforce (NYSE: CRM), the global leader in CRM, today announced an expanded relationship with the Pentagon Federal Credit Union (PenFed), the nation’s second-largest federal credit union, to transform its membership platform and improving remote financial services amid the current pandemic.

PenFed has integrated a range of Salesforce solutions to reach members in communities across the country, providing them with the financial resources they need during this time of uncertainty. Benefit Salesforce Financial Services Cloud, PenFed has launched numerous financial management tools, including PenFed Member360, to help deliver relevant financial solutions and connected experiences to its members. In addition, PenFed is deploying two new technologies to better support its members virtually:

  • Loan deferral portal: Within two weeks, PenFed built and implemented an online portal leveraging Salesforce Community Cloud for Financial Services which allows members experiencing financial hardship to manage payment skips and apply for temporary financial assistance. To date, nearly 17,000 loan deferrals have been processed through this process for over 11,000 members.
  • Faster customer service: To improve business processes, PenFed relies on robots to handle common internal service requests, such as password resets, avoiding interactions with their help desk staff for more complex and human-assisted issues. A year ago, 100% of PenFed’s service desk cases were handled over the phone; today 37% of files are handled by telephone, 42% by chat and 21% by chatbots. These efficiencies reduce wait times for members, as agents receive faster support and processing for common inquiries.

“Salesforce’s infrastructure has given us the agility to transition our finance professionals to remote work and provide additional digital financial services to our members,” said Joseph Thomas, PenFed EVP and CIO. “By leveraging these technologies, PenFed is able to continue to better serve its members and provide them with the personal touch and community-focused service they expect.”

“We are proud to support PenFed’s digital transformation as they evolve their financial offerings and member experiences with Salesforce,” said Rohit Mahna, SVP and GM, Financial Services at Salesforce. “With Salesforce’s solutions, PenFed will be able to increase productivity and provide even more personalized financial support to its members at scale.”

Founded in 1935, the Pentagon Federal Credit Union (PenFed) is the second biggest federal credit union, serving more than 2 million members worldwide with more than $25 billion in assets. PenFed Credit Union offers certificates, checks, credit cards, personal loans, mortgages, car loans, student loans and a wide range of other market-leading financial services, always keeping in mind members’ interests in mind. PenFed Credit Union is federally insured by the NCUA and is a housing equality lender. To learn more about PenFed Credit Union, visit PenFed.orglike us on Facebook and follow us @PenFed on Twitter.

Salesforce is the global leader in customer relationship management (CRM), bringing businesses closer to their customers in the digital age. Founded in 1999, Salesforce enables companies of all sizes and in all industries to leverage powerful technologies (cloud, mobile, social, internet of things, artificial intelligence, voice and blockchain) to create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit:

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