Pentagon Federal Credit Union Continues as a Community Leader with 2015 Philanthropic Goals

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Credit union is on course, and on speed, to meet or exceed 2014 effort.

The very bedrock of people helping people is what defines the culture of PenFed and the entire credit union movement.

With donations to charitable and other organizations totaling over $400,000 in the first five weeks of 2015, Pentagon Federal Credit Union’s (PenFed) spirit of giving remains a strong part of the organization’s culture. PenFed donated over $3 million in 2014.

“Charitable giving and credit unions go hand in hand,” said PenFed President and CEO, James Schenck. “The very bedrock of people helping people is what defines the culture of PenFed and the entire credit union movement. We at PenFed find it particularly rewarding to contribute to groups that support current and former service members and their families. Who we are as an organization is forever tied to those who serve. As we continue to grow, it’s our intent to continue to share that success with organizations that benefit our core field of membership—our nation’s defenders,” said Schenck.

PenFed’s single largest benefactor is the PenFed Foundation which received over $2.5 million in donations and in-kind support in 2014. The foundation is a nationally recognized nonprofit organization that has the primary mission of meeting the unmet needs of the military personnel and their families in the areas of financial literacy, housing, and support for the wounded. The organization works to prevent medical emergencies from turning into financial hardships for America’s men and women in uniform.

Apart from its foundation, PenFed contributes to a host of charitable organizations as well as those that represent the interests of the credit union industry. In the past five weeks, PenFed has made contributions of $25,000 or more to the following organizations:
National Defense University Foundation, U.S. Army Warrant Officers Association Scholarship Fund, The Lexington Institute, DC Habitat for Humanity (Veterans’ Housing Initiative), The Equal Rights Center, SEGS4VETS, NAFCU PAC, and CUNA’s Advocacy Fund.

About PenFed

Established in 1935 as the War Department Credit Union, PenFed is one of the largest credit unions in the country, serving 1.3 million members worldwide; with nearly $18 billion in assets. Its long-standing mission has been to provide superior financial services in a cost effective manner, while being responsive to members’ needs. PenFed offers market-leading mortgages, automobile loans, credit cards, checking, and a wide range of other financial services with its members’ interests always in mind. Serving a diverse population, PenFed offers many ways to become a member; including numerous employee groups and association affiliations. PenFed is federally insured by the NCUA and is an equal housing lender. PenFed does business in accordance with the Federal Fair Housing Law, the Equal Credit Opportunity Act, and is a member of NAFCU. To learn more about PenFed, visit PenFed.org.

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Amy Doane
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