TYSONS, Va.– PenFed Credit Union said it has welcomed its two-millionth member, and to mark the milestone it is donating more than $2 million in 2020 to charities supporting the communities it serves and to the PenFed Foundation, which supports military families.
“PenFed is proud to celebrate the major milestone of serving two million members,” said James Schenck, PenFed Credit Union president/CEO and PenFed Foundation CEO. “This milestone is made possible by the 2,700 dedicated financial professionals at PenFed who serve our members every day. PenFed is owned by two-million Americans from all walks of life across the United States, and our mission is to empower the members of our community to achieve their financial well-being. That’s why in addition to delivering great rates for everyone, PenFed is donating $2 million to support the communities in which our members live and work. This truly represents the credit union mission of people helping people.”
CUNA Response
“On behalf of America’s credit unions, I want to congratulate PenFed for reaching two million members,” said CUNA President Jim Nussle. “Such an accomplishment deserves celebration, but donating $2 million to community needs in recognition of hitting this milestone speaks volumes of PenFed’s commitment to our movement’s people-helping-people mission. When credit unions talk about our difference in supporting members and our communities, we are referring to efforts like this and all the ways PenFed supports the financial well-being of its members on a daily basis.”
NAFCU Response
“We congratulate PenFed on serving two-million members,” said Dan Berger, National Association of Federally-insured Credit Unions president and CEO. “This milestone is a testament to their dedication to exceptional member service. James Schenck and his team, as well as their Board of Directors, should be proud.”
DCUC Response
“PenFed is an outstanding credit union that has always focused on the financial health and needs of its members,” said Tony Hernandez, Defense Credit Union Council (DCUC) President and CEO. “The Defense Credit Union Council congratulates PenFed on its two million member milestone, which reflects on the high level of trust America’s working families place on PenFed’s products and services along with all the benefits of membership. DCUC is also pleased to see $2 million going back to America’s defense communities in recognition of this milestone, as this will help rebuild and sustain the places where our military works, plays and lives.”
PenFed has approximately $25 billion in assets.