TYSONS, Va.–PenFed Credit Union has donated 500 laptop computers, valued at over $125,000, to support the education of children of military families. The laptops will come with Microsoft Office software pre-loaded by PenFed, and will be distributed by the Armed Services YMCA in support of their mission to help junior-enlisted military service members and their families thrive wherever the military sends them.
“During this period of distance learning, we were concerned that the families of some junior military personnel might not have the resources to enable their children to keep up with their classes,” said Ed Cody, PenFed chairman. “Our efforts to repurpose PenFed laptops will enable children to be online with their teachers, complete their school work and have a successful academic year. We would like to see other credit unions and industry leaders implement similar programs for their communities.”
PenFed said it has a strong legacy of being a military-friendly company. The credit union donates 2% of its annual net income to charitable organizations, with the majority going to military charities.
“PenFed is proud to support the Armed Services YMCA and we are honored to positively impact the lives of children of military families across our nation,” said PenFed Credit Union President/CEO and PenFed Foundation CEO James Schenck. “As we move forward this school year, I encourage every company with the resources to consider repurposing laptops and technology equipment to provide students with the tools they need to learn virtually.”
Earlier this year, PenFed said it welcomed its two-millionth member and is celebrating the milestone by donating over $2 million in 2020 to charities supporting the communities it serves and to the PenFed Foundation supporting military families.
“On behalf of the young men and women who serve our country and their families, the Armed Services YMCA extends sincere thanks to PenFed for this generous gift,” said Armed Services YMCA CEO and retired U.S. Navy Vice Adm. William French. “The donation provides relief for military families as many children are learning virtually and require a laptop, an additional expense that many did not budget for during a year that has brought many changes.”