PenFed Credit Union Acquires WHITE64
TYSONS, Va., Sept. 5, 2018 — PenFed Credit Union announced today its acquisition of the award winning, independent marketing services agency WHITE64, which has served as PenFed’s marketing and advertising agency since 2014.
Under the terms of the agreement, WHITE64 will retain its name and operate as a virtually autonomous unit rather than an in-house agency. Matt White will continue serving as President of the agency. White64 will continue serving existing clients while also seeking new business in all sectors.
“Matt White and his team at WHITE64 have fueled PenFed’s growth since our rebranding in 2014,” said PenFed President and CEO James Schenck. “I see that value is not only for us, but for WHITE64’s entire roster of clients. This acquisition is designed to empower the agency to offer its best-in-class marketing services to national, state and local clients, including other credit unions. We’re thrilled to have WHITE64 officially become part of the PenFed family.”
“This partnership is all about continuing to build upon the winning value proposition to our existing and new clients by being able to deliver full-service offerings and results across all media platforms in the days and years ahead,” said White. “It’s going to help us provide our current clients with a greater array of services while also helping us attain the scale we need to attract new clients who are seeking a full-service agency with a wide range of integrated capabilities.”
White added that the acquisition will help the agency increase its competencies specifically in the increasingly important and growing areas of advanced data, research, and analytics – a move that will allow WHITE64 to fully support the future needs of new and existing clients.
Under terms of the agreement, WHITE64’s entire 50-plus-member staff and C-level executive suite will remain intact, and the agency will continue to conduct business as usual as a separate limited liability company (LLC). White will continue as President, and the company’s headquarters’ offices will remain in their current location in Tysons, Va. White expects the agency to add staff as they expand capabilities in the areas he cited.
Over the past four years, WHITE64 has served as Agency of Record for PenFed, its largest client, offering creative and media services, helping rebrand from Pentagon Federal Credit Union to PenFed, and launching the PenFed “Great Rates Across America” campaign.
WHITE64 was founded in 1964 as Nolan Duffy and White by E. James White, who had a passion for creative that delivered results. Today, we believe that every brand has a truth. First we help our clients find it. Then we help them tell it. We create believers. Our clients include, PenFed Credit Union, CFP Board, Washington Metro, Koons Automotive Group, Luray Caverns, Bio Industries, Hilton, Visit Fairfax, Wolf Trap and Navy Mutual among others. For more information, please visit us online at white64.com, Facebook and on Twitter.
About PenFed Credit Union
Established in 1935 as the War Department Credit Union, Pentagon Federal Credit Union (PenFed) is America’s second-largest federal credit union, serving 1.7 million members worldwide with $23.5 billion in assets. Our mission is to help members reach their financial potential. PenFed Credit Union offers market-leading mortgages, automobile loans, credit cards, student loans, checking, certificates, and a wide range of other financial services with members’ interests always in mind. We have a proud history of serving those in the Armed Forces, Department of Defense, Department of Homeland Security, Military Associations, eligible veterans and retirees, and their families. You may also qualify through membership in select organizations within our field of membership. 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 Twitter. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.