Pentagon Federal Credit Union

NAA Names James Schenck as the 2024 Whitman Trophy Recipient

Retrieved on: 
Tuesday, March 5, 2024

WASHINGTON and TYSONS, Va., March 5, 2024 /PRNewswire/ -- The National Aeronautic Association (NAA) is pleased to announce that PenFed Credit Union President/CEO & PenFed Foundation CEO James Schenck has been selected as the recipient of the 2024 Bruce Whitman Memorial Trophy.

Key Points: 
  • WASHINGTON and TYSONS, Va., March 5, 2024 /PRNewswire/ -- The National Aeronautic Association (NAA) is pleased to announce that PenFed Credit Union President/CEO & PenFed Foundation CEO James Schenck has been selected as the recipient of the 2024 Bruce Whitman Memorial Trophy.
  • Created in honor of the aerospace executive and philanthropist bearing its name, Bruce was posthumously named the first trophy recipient in 2019.
  • "No one cared more about our industry than Bruce Whitman," said Jim Albaugh, NAA Chair.
  • "He dedicated his life to service, and I know Bruce would be honored to know that this year's recipient of the Whitman Trophy is James Schenck.

PenFed Credit Union Finishes 2023 with Over $3 Billion in Net Worth and Welcomes Over 230,000 New Members

Retrieved on: 
Wednesday, January 31, 2024

TYSONS, Va., Jan. 31, 2024 /PRNewswire/ -- PenFed Credit Union , the nation's second-largest federal credit union, today released financial results highlighting it finished 2023 with nearly 3 million members, $35 billion in assets and over $3 billion in net worth.

Key Points: 
  • TYSONS, Va., Jan. 31, 2024 /PRNewswire/ -- PenFed Credit Union , the nation's second-largest federal credit union, today released financial results highlighting it finished 2023 with nearly 3 million members, $35 billion in assets and over $3 billion in net worth.
  • PenFed continues to focus on its members with market-leading products and services, despite a challenging economic environment with prolonged yield curve inversion.
  • PenFed welcomed over 230,000 new members as we increased our digital capabilities while offering great rates and world-class service.
  • PenFed 2023 financial highlights include:
    PenFed's member shares grew year-over-year by $1.7 billion, which represents 6% growth.

The PenFed Foundation partners with Canine Companions to help more veterans get life-changing service dogs

Retrieved on: 
Wednesday, January 3, 2024

TYSONS, Va., Jan. 3, 2024 /PRNewswire/ -- The PenFed Foundation, a national 501(c)3 founded by PenFed Credit Union, announces a groundbreaking partnership with Canine Companions to help provide more service dogs to veterans and others with a disability. The nationwide campaign is focused on recruiting more volunteer puppy raisers and encouraging more corporations to allow their employees to raise service dogs in the workplace. Canine Companions' Pilot, a 10-week-old yellow Labrador/Golden Retriever cross, is the face of the new initiative. He's being raised by PenFed Foundation President Andrea McCarren, her sixth future service dog in training.

Key Points: 
  • TYSONS, Va., Jan. 3, 2024 /PRNewswire/ -- The PenFed Foundation , a national 501(c)3 founded by PenFed Credit Union, announces a groundbreaking partnership with Canine Companions to help provide more service dogs to veterans and others with a disability.
  • He's being raised by PenFed Foundation President Andrea McCarren, her sixth future service dog in training.
  • The PenFed Foundation felt compelled to partner with Canine Companions to address the urgent need for more volunteers to raise puppies and help shorten the wait time for those in need.
  • "Canine Companions is grateful to The PenFed Foundation for this important initiative to increase awareness regarding the need for volunteers across the country to raise future service dogs," said Canine Companions CEO Paige Mazzoni.

The PenFed Foundation and PenFed Realty Join Forces to Provide Relief to Military Families Devastated by Clarksville, TN Tornadoes

Retrieved on: 
Tuesday, December 12, 2023

In the aftermath of the destructive tornadoes that swept through military housing at nearby Ft. Campbell, Kentucky, The PenFed Foundation and PenFed Realty are uniting to offer crucial support to those impacted.

Key Points: 
  • In the aftermath of the destructive tornadoes that swept through military housing at nearby Ft. Campbell, Kentucky, The PenFed Foundation and PenFed Realty are uniting to offer crucial support to those impacted.
  • PenFed Realty and local officials have identified 50 families within the community whose homes are unsafe to stay in.
  • The Foundation exists to serve veterans and military families and we are proud to partner with PenFed Realty to offer the residents some support during this challenging time."
  • As the recovery efforts continue, The PenFed Foundation and PenFed Realty express their unwavering commitment to assisting the military families affected.

PenFed Credit Union Joins 4 +1 Commitment Supporting Military Spouse Employment

Retrieved on: 
Thursday, December 7, 2023

TYSONS, Va., Dec. 7, 2023 /PRNewswire/ -- PenFed Credit Union, the nation's second-largest federal credit union, today announced it joined as an initial signatory of Blue Star Families and the US Chamber of Commerce Foundation's Hiring Our Heroes Program 4+1 Commitment supporting military spouse employment. The commitment is a first-of-its-kind, nationwide effort to tackle the 21% unemployment rate among military spouses.

Key Points: 
  • TYSONS, Va., Dec. 7, 2023 /PRNewswire/ -- PenFed Credit Union , the nation's second-largest federal credit union, today announced it joined as an initial signatory of Blue Star Families and the US Chamber of Commerce Foundation's Hiring Our Heroes Program 4+1 Commitment supporting military spouse employment.
  • PenFed has a long history of honoring the 4+1 Commitment that includes facilitating job transferability, offering remote work and flexible work hours for service members, veterans, military spouses and caregivers and is a member of the Military Spouse Employment Partnership.
  • PenFed collaborates with organizations, including Blue Star Families and Hiring Our Heroes, to enhance military employment efforts.
  • The 4+1 Commitment: The Formula for Military Spouse Success is a scalable, actionable, and effective way for companies to commit to addressing and improving military spouse employment outcomes by considering at least one of four policy changes .

PenFed Credit Union and Quattro Win 2023 MarCom Platinum and Gold Awards

Retrieved on: 
Tuesday, November 21, 2023

TYSONS, Va., Nov. 21, 2023 /PRNewswire/ -- PenFed Credit Union, the nation's second-largest federal credit union, and Quattro, an award-winning, Philadelphia area direct results agency specializing in financial services marketing, today announced their work was selected for a platinum and gold award at the 2023 MarCom Awards. The MarCom Awards honor excellence in marketing and communication while recognizing the creativity, hard work and generosity of industry professionals.

Key Points: 
  • TYSONS, Va., Nov. 21, 2023 /PRNewswire/ -- PenFed Credit Union , the nation's second-largest federal credit union, and Quattro , an award-winning, Philadelphia area direct results agency specializing in financial services marketing, today announced their work was selected for a platinum and gold award at the 2023 MarCom Awards.
  • The MarCom Awards honor excellence in marketing and communication while recognizing the creativity, hard work and generosity of industry professionals.
  • "The infographic and blog post selected for these awards reflect our commitment to our members' financial wellbeing and financial literacy."
  • MarCom's Platinum Award is presented to those entries judged to be among the most outstanding entries in the competition.

PenFed Credit Union Named 'Best for Vets' Employer 2023 by Military Times

Retrieved on: 
Thursday, November 9, 2023

TYSONS, Va., Nov. 9, 2023 /PRNewswire/ -- PenFed Credit Union, the nation's second-largest federal credit union, today announced for the fifth year in a row it was selected by the Military Times as a "Best for Vets" employer of 2023. The editorially driven Best for Vets program produces a highly respected analysis of a company's efforts to recruit, retain, and support current and former service members, military spouses and military caregivers.

Key Points: 
  • Designation Recognizes PenFed's Commitment to Recruiting, Retaining and Supporting Military Community
    TYSONS, Va., Nov. 9, 2023 /PRNewswire/ -- PenFed Credit Union , the nation's second-largest federal credit union, today announced for the fifth year in a row it was selected by the Military Times as a "Best for Vets" employer of 2023.
  • "PenFed is proud to have our commitment to the military community once again recognized by the Military Times," said PenFed President/CEO and PenFed Foundation CEO James Schenck.
  • PenFed collaborates with military employment organizations to enhance military employment efforts.
  • Members of the military community interested in a career with a military-friendly company are encouraged to visit PenFed's Military Recruiting Webpage .

PenFed Credit Union Named Best Overall Credit Union of 2023-2024 by Money

Retrieved on: 
Monday, November 6, 2023

TYSONS, Va., Nov. 6, 2023 /PRNewswire/ -- Personal finance digital platform Money announced the release of its 2023-2024 Best Banks list, with PenFed Credit Union, the nation's second-largest federal credit union, making the annual list for Best Overall Credit Union. This list highlights the financial institutions across the United States where consumers can get matched with perfect options for their money and day-to-day banking needs.

Key Points: 
  • PenFed recognized for low fees, high dividend rates paid on deposit products and ease of joining
    TYSONS, Va., Nov. 6, 2023 /PRNewswire/ -- Personal finance digital platform Money announced the release of its 2023-2024 Best Banks list, with PenFed Credit Union , the nation's second-largest federal credit union, making the annual list for Best Overall Credit Union .
  • "We are proud to be recognized by Money for providing our members with great rates and world-class service," said PenFed President and CEO James Schenck.
  • PenFed was recognized as top overall pick for best credit union because of a combination of low fees, large ATM network, ease of opening balances and high dividend rates paid on deposit accounts.
  • PenFed also allows members to save more with higher certificate rates, including 5.35% APY on 15 month money market certificates and 5.25% APY on 1 year money market certificates 3.

Grow Your Savings with Decade-High Dividend Returns

Retrieved on: 
Thursday, November 2, 2023

TYSONS, Va., Nov. 2, 2023 /PRNewswire/ -- Many Americans are feeling the stress of inflation with the rising cost of food, housing, consumer goods, travel and other expenses. Interest rates have risen rapidly over the past year and that's good news in terms of growing the money you set aside for savings.

Key Points: 
  • Like a CD, a credit union certificate is an account that locks in your money and earns dividends over a period of time.
  • How much you earn depends on the financial institution, your deposit amount, and the length of your term.
  • A Premium Online Savings Account is a savings product, that earns a higher yield than traditional savings.
  • With a credit union, your money is protected by the National Credit Union Administration ( NCUA ) up to $250,000.

PenFed Credit Union Attracts Nearly $1.2 Billion in New Shares and 174,000 New Members Through the Third Quarter of 2023

Retrieved on: 
Wednesday, November 1, 2023

TYSONS, Va., Nov. 1, 2023 /PRNewswire/ -- PenFed Credit Union , the nation's second-largest federal credit union, today released financial results.

Key Points: 
  • TYSONS, Va., Nov. 1, 2023 /PRNewswire/ -- PenFed Credit Union , the nation's second-largest federal credit union, today released financial results.
  • PenFed continues to focus on its members with its market-leading products and services, despite a challenging economic environment with rising inflation.
  • Year-to-date as of Q3 2023, PenFed attracted nearly $1.2 billion in new shares and added 174,000 new members.
  • PenFed financial highlights as of the third quarter of 2023 include:
    PenFed's member shares grew year-over-year by $1.7 billion, which represents 6% growth.