Connect with us

Technology

PenFed Credit Union Builds Momentum Through the Second Quarter of 2026

Published

on

Member-Focused Flywheel Accelerates as Mortgages, Consumer Lending, Support Services and Digital Banking Drive Continued Member Value

TYSONS, Va., July 29, 2026 /PRNewswire/ — PenFed Credit Union, one of the nation’s largest federal credit unions, reported strong year-to-date financial results through the second quarter of 2026, driven by the momentum of a member-focused flywheel of competitive rates, disciplined growth, exceptional service and continued digital innovation.

“PenFed’s second quarter results show the power of our flywheel in action,” said James Schenck, PenFed President and CEO. “When we deliver great rates, easy digital access, responsive service and responsible lending solutions, members respond, and that momentum strengthens our ability to serve even more members through every rate environment. PenFed has grown assets at a 9% compound annual growth rate from 2006 to 2026 while remaining focused on helping members achieve their financial dreams. Our mortgage and consumer lending continues to see accelerating volumes across all product lines on a year-over-year basis, while our support services teams on the phones and in branches continue to earn the highest consumer satisfaction scores. Our IT teams are also powering top-rated mobile and web experiences that process more than 13 million member interactions each month. I am incredibly proud of our employees and the momentum we have built through disciplined execution, thoughtful decision-making and an unwavering commitment to excellence.”

PenFed’s Q2 2026 Financial Highlights

Lending Momentum and Member Growth

Accelerated year-to-date auto loan originations to $1.3 billion, (up 49% year-over-year), reflecting strong member demand and competitive pricing.Increased year-to-date home equity line of credit originations to $766 million, (up 16% year-over-year), reflecting PenFed’s competitive home equity solutions.Increased year-to-date mortgage originations to $1.2 billion, (up 83% year-over-year), reflecting PenFed’s streamlined, service-focused home-lending experience.Grew year-to-date consumer lending volumes by nearly $490 million across product lines (up 15% year-over-year), reflecting increased member engagement and the flywheel effect of strong value, trusted service and digital access.

Earnings Growth

Reported year-to-date net income of $144 million, (up 73% year-over-year), supported operating discipline and credit performance.Increased year-to-date return on assets to 0.98%, (up 80% year-over-year), reflecting continued operating performance.

Capital and Liquidity Strength

Increased net worth ratio to 10.72%, reflecting strong year-to-date earnings and disciplined balance sheet management.Increased capital in excess of required regulatory net worth to $1.1 billion, further strengthening PenFed’s capital position.Maintained strong liquidity with total cash and investments at 17.0% of total assets, supporting member growth and continued financial strength.

Credit Quality and Risk Management

Improved year-to-date loan loss rate to 1.28%, (down 27% year-over-year), reflecting continued credit discipline, proactive portfolio management and improving performance trends.Improved year-to-date total delinquencies to $251 million, (down 13% year-over-year).

Member Experience and Digital Engagement

Support services teams on the phones and in branches continue to receive PenFed’s highest consumer satisfaction scores. These results reflect the strength of PenFed’s service culture and the commitment of employees who help members every day.PenFed’s IT teams continue to deliver top-rated mobile and web experiences that process more than 13 million member interactions each month, helping members manage their financial lives with speed, confidence and convenience.

Community Impact

Year to date, PenFed has contributed nearly $1 million in total community giving, supporting organizations and initiatives that advance financial well-being, military and veteran support, education, health and family services.PenFed sponsored and supported the Spring into Reading Book Fair at Children’s National Hospital, helping bring joy, comfort and a sense of normalcy to patients and families during their healthcare journey. The PenFed executive leadership team and employees volunteered, welcoming more than 420 visitors and distributing 818 books, serving more than 250 patients and siblings.

About PenFed Credit Union
Established in 1935, Pentagon Federal Credit Union (PenFed) is one of America’s largest federal credit unions, serving nearly 2.8 million members worldwide with $29 billion in assets. PenFed Credit Union offers market-leading certificates, checking, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services with members’ interests always in mind. PenFed Credit Union is federally insured by the NCUA and is an Equal Housing Lender. To learn more about PenFed Credit Union, visit PenFed.org, like us on Facebook and follow us @PenFed on X. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.

View original content to download multimedia:https://www.prnewswire.com/news-releases/penfed-credit-union-builds-momentum-through-the-second-quarter-of-2026-302838282.html

SOURCE PenFed Credit Union

Continue Reading

Technology

Trimble for Government Achieves ‘Initial Implementation’ Status for FedRAMP Class C (Moderate) Certification

Published

on

By

Milestone accelerates secure cloud adoption for federal, state and local entities managing infrastructure, spatial data and capital assets 

WESTMINSTER, Colo., Oct. 20, 2026 /PRNewswire/ — Trimble today announced that Trimble for Government is listed as ‘Initial Implementation’ status for Federal Risk and Authorization Management Program (FedRAMP®) Class C (Moderate) certification and is now listed on the FedRAMP Marketplace. In conjunction with seeking FedRAMP certification, Trimble is also pursuing GovRAMP authorization to support state, local and education (SLED) customers with reciprocal cybersecurity compliance standards.

This dual milestone marks a critical step forward in delivering a software as a service (SaaS) cloud environment built within a secure Government Community Cloud. Designed specifically for U.S. Federal Government departments, state and local agencies, and defense and civilian contractors, Trimble for Government provides a unified ecosystem for managing infrastructure, spatial data, capital projects, permitting and facility assets across their entire lifecycle.

Achieving FedRAMP Class C (Moderate) and GovRAMP alignment will enable public sector entities and Department of Defense (DoD) contractors to comply with stringent security mandates — including Cybersecurity Maturity Model Certification (CMMC) alignment — while modernizing digital engineering and asset management.

“Federal, state and local agencies face the dual challenge of modernizing critical infrastructure while maintaining uncompromising cybersecurity standards,” said Mark Schwartz, group president, AECO at Trimble. “Achieving ‘Initial Assessment’ status reflects our commitment to delivering mission-critical spatial, capital project and asset management capabilities inside a secure, audit-ready cloud boundary across all levels of government.”

Integrated cloud solutions built for government operations

The in-scope environment brings together Trimble’s proven field execution, asset, project and permitting software into four modular packages designed to support specific public sector outcomes:

Trimble® Field Collaboration: Delivers field data services using foundational spatial database infrastructure and GIS integration to support high-security field operations, map assets, and enable seamless field-to-cloud workflows across Trimble’s core Field Systems portfolio.Trimble Project Management powered by Trimble ProjectSight® software: Connects design-to-build workflows in the field, providing precision data layout, project tracking, collaboration and quality assurance across construction projects.Trimble Asset Management powered by Trimble Unity™ Maintain software: Serves as a centralized facilities data core for federal, state, and local government agencies, military installations, and public infrastructure — such as public buildings, utilities, and transportation networks — to optimize maintenance and long-term capital planning.Trimble Permit Management powered by Trimble Unity Permit software: Streamlines end-to-end management of permitting, licensing, land use and infrastructure rights-of-way in a fully compliant cloud environment.

The unifying in-scope element across all four packages is the Trimble Connect® platform, providing collaboration and a common data environment (CDE) across the Trimble for Government platform.

With assessment processes underway, Trimble continues to advance toward full FedRAMP and GovRAMP authorizations to ensure public sector customers can innovate with confidence.

About Trimble
Trimble is a global technology company that connects the physical and digital worlds, transforming the ways work gets done. With relentless innovation in precise positioning, modeling and data analytics, Trimble enables essential industries including construction, geospatial and transportation. Whether it’s helping customers build and maintain infrastructure, design and construct buildings, optimize global supply chains or map the world, Trimble is at the forefront, driving productivity and progress. For more information about Trimble, visit: www.trimble.com.

GTRMB

View original content to download multimedia:https://www.prnewswire.com/news-releases/trimble-for-government-achieves-initial-implementation-status-for-fedramp-class-c-moderate-certification-302913499.html

SOURCE Trimble

Continue Reading

Technology

Trimble for Government Achieves ‘Initial Implementation’ Status for FedRAMP Class C (Moderate) Certification

Published

on

By

Milestone accelerates secure cloud adoption for federal, state and local entities managing infrastructure, spatial data and capital assets 

WESTMINSTER, Colo., Oct. 20, 2026 /PRNewswire/ — Trimble today announced that Trimble for Government is listed as ‘Initial Implementation’ status for Federal Risk and Authorization Management Program (FedRAMP®) Class C (Moderate) certification and is now listed on the FedRAMP Marketplace. In conjunction with seeking FedRAMP certification, Trimble is also pursuing GovRAMP authorization to support state, local and education (SLED) customers with reciprocal cybersecurity compliance standards.

This dual milestone marks a critical step forward in delivering a software as a service (SaaS) cloud environment built within a secure Government Community Cloud. Designed specifically for U.S. Federal Government departments, state and local agencies, and defense and civilian contractors, Trimble for Government provides a unified ecosystem for managing infrastructure, spatial data, capital projects, permitting and facility assets across their entire lifecycle.

Achieving FedRAMP Class C (Moderate) and GovRAMP alignment will enable public sector entities and Department of Defense (DoD) contractors to comply with stringent security mandates — including Cybersecurity Maturity Model Certification (CMMC) alignment — while modernizing digital engineering and asset management.

“Federal, state and local agencies face the dual challenge of modernizing critical infrastructure while maintaining uncompromising cybersecurity standards,” said Mark Schwartz, group president, AECO at Trimble. “Achieving ‘Initial Assessment’ status reflects our commitment to delivering mission-critical spatial, capital project and asset management capabilities inside a secure, audit-ready cloud boundary across all levels of government.”

Integrated cloud solutions built for government operations

The in-scope environment brings together Trimble’s proven field execution, asset, project and permitting software into four modular packages designed to support specific public sector outcomes:

Trimble® Field Collaboration: Delivers field data services using foundational spatial database infrastructure and GIS integration to support high-security field operations, map assets, and enable seamless field-to-cloud workflows across Trimble’s core Field Systems portfolio.Trimble Project Management powered by Trimble ProjectSight® software: Connects design-to-build workflows in the field, providing precision data layout, project tracking, collaboration and quality assurance across construction projects.Trimble Asset Management powered by Trimble Unity™ Maintain software: Serves as a centralized facilities data core for federal, state, and local government agencies, military installations, and public infrastructure — such as public buildings, utilities, and transportation networks — to optimize maintenance and long-term capital planning.Trimble Permit Management powered by Trimble Unity Permit software: Streamlines end-to-end management of permitting, licensing, land use and infrastructure rights-of-way in a fully compliant cloud environment.

The unifying in-scope element across all four packages is the Trimble Connect® platform, providing collaboration and a common data environment (CDE) across the Trimble for Government platform.

With assessment processes underway, Trimble continues to advance toward full FedRAMP and GovRAMP authorizations to ensure public sector customers can innovate with confidence.

About Trimble
Trimble is a global technology company that connects the physical and digital worlds, transforming the ways work gets done. With relentless innovation in precise positioning, modeling and data analytics, Trimble enables essential industries including construction, geospatial and transportation. Whether it’s helping customers build and maintain infrastructure, design and construct buildings, optimize global supply chains or map the world, Trimble is at the forefront, driving productivity and progress. For more information about Trimble, visit: www.trimble.com.

GTRMB

View original content to download multimedia:https://www.prnewswire.com/news-releases/trimble-for-government-achieves-initial-implementation-status-for-fedramp-class-c-moderate-certification-302913499.html

SOURCE Trimble

Continue Reading

Technology

Delta Development Team and The Good Drone Company Awarded U.S. Army Contract for Aerial Blood Delivery

Published

on

By

TUCSON, Ariz., Oct. 20, 2026 /PRNewswire/ — Delta Development Team (DDT), a leader in prehospital blood storage and cold chain technology, and The Good Drone Company (GDC) have been awarded a U.S. Army contract to develop a drone-based blood delivery capability for the Army Blood Link (ABL) program.

The program is part of the broader Armed Services Blood Program (ASBP), which supplies blood products to U.S. military forces worldwide. Army Blood Link is designed to support battlefield medical logistics through rapid, temperature-controlled delivery of lifesaving blood products to the field, providing an additional resupply option when traditional ground transportation is unavailable, delayed, or unsafe. Under the contract, The Good Drone Company will provide two U.S.-built prototypes of its hybrid vertical takeoff and landing (VTOL) cargo drone, each designed to transport up to six units of blood, while DDT will provide the temperature-controlled storage capability through its Delta ICE 2L Smart Blood Cooler.

The companies are combining commercial off-the-shelf (COTS) technologies to create a U.S.-sourced aerial blood delivery system capable of transporting blood directly to the point of need.

To meet ABL program requirements, DDT will supply six Delta ICE 2L Smart Blood Coolers, each designed to maintain two units of blood within the required temperature range for three hours of aerial delivery in high-humidity environments with ambient temperatures ranging from 15°F to 120°F. Built-in temperature monitoring and data recording, along with Bluetooth and cellular connectivity, support cold-chain oversight and blood accountability. The program extends DDT’s blood storage and monitoring capabilities into aerial delivery.

“Getting blood to the point of need is only part of the challenge. It must also remain within the required temperature range throughout the journey,” said Montgomery Leija, CEO of Delta Development Team. “This program brings DDT’s experience in blood storage and cold chain management into a new operational environment, taking the blood supply chain from the ground to the air.”

The prototype system is designed to deliver blood within 10 meters of a designated target during both day and night operations. It will feature a communications range of up to 30 miles and semi-autonomous waypoint navigation. It is intended for single-person operation with minimal training and is built on GDC’s existing commercial cargo drone technology to accelerate development and fielding while meeting U.S.-sourcing requirements.

“We have seen strong interest in middle-mile drones in emerging markets for some time, from both public and private sector customers spanning healthcare to third-party logistics,” said Jake Vander Ploeg, CEO of The Good Drone Company. “This program is a great example of how the military is adopting commercial technology like our cargo drones to quickly test new ideas in the field without starting a full aircraft development program.”

The collaboration combines GDC’s expertise in commercial drone platforms and aerial delivery with DDT’s temperature-controlled blood storage and transport capabilities to support:

Rapid resupply: Delivering blood when conventional ground transportation is unavailable or unsafe.Cold chain protection: Maintaining required blood temperatures during aerial transport.U.S.-sourced capability: Supporting domestic defense supply chain objectives.Accelerated development: Combining GDC’s existing commercial cargo drone technology with DDT’s established blood storage solutions.

The ABL effort addresses the challenge of delivering critical medical supplies in contested and austere environments. When terrain, damaged infrastructure, or tactical conditions prevent conventional resupply, aerial delivery combined with temperature-controlled storage can expand options for getting lifesaving blood products to service members when and where they are needed.

About Delta Development Team

Delta Development Team (DDT) is a U.S.-based medical technology company headquartered in Tucson, Arizona, specializing in blood storage, transport, monitoring, and logistics solutions for military and prehospital environments. DDT develops technology designed to keep blood available, traceable, and mission-ready from the blood bank to the point of injury. Its portfolio includes the APRU 6L, Delta ICE 2L, TBS 40L, and BloodCOMM® blood management platform.

Media Contact: info@deltadevteam.com | www.deltadevteam.com

About The Good Drone Company

The Good Drone Company (GDC) is an aerospace company headquartered in Tempe, Arizona, that designs and builds autonomous hybrid VTOL cargo drones for middle-mile logistics. GDC’s aircraft take off and land vertically without a runway, carry up to 55 lb (25 kg) of payload, and fly more than 300 miles (500 km) at speeds up to 93 mph (150 km/h). GDC is deploying in Kenya to close the middle-mile transportation gap for public and private sector customers, working closely with its local partner ThatcherX and the Kenyan government to change how goods move around the country.

Media Contact: info@thegooddronecompany.com | www.thegooddronecompany.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/delta-development-team-and-the-good-drone-company-awarded-us-army-contract-for-aerial-blood-delivery-302913294.html

SOURCE Delta Development Team

Continue Reading

Trending