The latest from James R. Schenck

Aug 18, 2021 - by James R. Schenck, PenFed Credit Union and PenFed Foundation

Now is a great time to expand: But do you know what to look for in a new location?

We’re living through one of the most explosive periods of economic growth in recent history. After the pandemic shuttered storefronts and stalled the economy, businesses both small and large ...

Jun 25, 2021 - by James R. Schenck, PenFed Credit Union and PenFed Foundation

The right recruiting philosophy can lead to record lending volume

Credit unions share three commonalities that differentiate us from other financial institutions: 1) great rates; 2) dedication to member service; and 3) inspired leadership. Achieving the third is the most ...

Feb 8, 2021 - by James R. Schenck, PenFed Credit Union and PenFed Foundation

Credit unions can withstand pandemic fallout and achieve great success in 2021

In his last speech as National Credit Union Administration (NCUA) Chairman, Rodney E. Hood spoke at PenFed’s Board Education Conference. It was his first in-person public event since the ...

Nov 5, 2020 - by James R. Schenck, PenFed Credit Union and PenFed Foundation

Pandemic can be an opportunity for credit unions, not an obstacle

COVID-19 has posed unprecedented challenges to the financial world. Like most companies, credit unions have had to adapt to the pandemic by working remotely, implementing more drive-through services and expanding ...

Jul 28, 2020 - by James R. Schenck, PenFed Credit Union and PenFed Foundation

Five tips for preparing for uncertain times

After 9/11, PenFed built a strategic plan to transform our business within a decade to be 95% remote and only 5% brick and mortar. Over the years, our branches ...