Backbone Coalition Unites Credit Unions Nationwide with Four New Members, including Pentagon Federal Credit Union

Backbone, a nationwide coalition highlighting how credit unions empower everyday Americans and strengthen communities, is expanding with four new members, including Pentagon Federal Credit Union (Virginia), the nation’s fourth-largest federal credit union serving close to 3 million members. Pentagon Federal Credit Union joins ORNL Federal Credit Union (Tennessee), Loyalty Credit Union (Florida), and Johns Hopkins Federal Credit Union (Maryland) bringing Backbone’s membership to 27 credit unions and leagues.

Backbone has also finalized its structure as a credit union service organization (CUSO), with ownership by Community Financial Credit Union, FourLeaf Federal Credit Union, GoWest Credit Union Association and Great Lakes Credit Union.

“PenFed is thrilled to join Backbone and collaborate with credit unions across the country to highlight the credit union motto of people helping people,” said James Schneck, PenFed President and CEO. “At PenFed we empower everyday Americans by helping them achieve their financial dreams and are proud to give back and strengthen the communities where we live and work.” 

The coalition’s expanding membership comes alongside increased visibility for the coalition and credit unions’ member-first approach. Recent media coverage in outlets including Money, USA Today, and Daily Yonder, as well as a special series on the Everyone's Talkin Money podcast, has highlighted credit unions' unique mission as not-for-profit cooperatives that put people first and support communities through economic uncertainty.

“Credit unions across our country are doing transformative work for their members every day, but those stories often don't often get told beyond their local communities,” said Troy Stang, GoWest Credit Union Association President and CEO. “As a CUSO co-owner, we’re investing in Backbone to elevate those stories nationwide and make sure they reach the people who need to hear them most.”

With the new additions, Backbone spans 23 states, encompassing credit unions of all sizes united by a shared commitment to member service and community impact.

“For too long, credit unions have been a best kept secret. Telling our story together will change at a time when Americans need us more than ever,” said Tansley Stearns, president and ceo of Community Financial Credit Union and Backbone coalition chair. “We're building momentum that goes beyond any single institution by activating collaboration. Backbone is about making sure people know that credit unions are real financial partners in their lives, ready to walk with them through the light and dark moments we all experience.”

---