Valor has now been subsumed into PenFed. For senior citizen Valor members there might be a hidden benefit:
Under the old Valor rules, seniors were entitled to paper statements free of charge. But there was not such a benefit at PenFed. Regardless your age you paid for paper statements at PenFed.
However, PenFed has worked hard in order to ensure that Valor benefits not be lost by former Valor members. Thus, upon request, PenFed will commence sending out free paper statements to senior citizens who have come over from Valor.
This is especially helpful for seniors who once held memberships in both credit unions. Those persons will be able for the first time to receive free paper statements showing both their Valor and their PenFed accounts.
Some might wonder what of former Valor members for whom senior citizen status is merely impending, e.g., for those in their early sixties. Will such individuals, when they turn 65, become eligible for free paper statements as would have been the case if Valor were still around? I do not have the answer to that.
