PenFed Credit Union President and CEO James Schenck named Large Business Philanthropist of the Year by Volunteer Alexandria

PenFed on target to donate more than $3.5 million to area organizations in 2018

SAN ANTONIO, VA (May 30, 2018) — PenFed President and CEO James Schenck received Volunteer Alexandria’s 2018 Large Business Philanthropist of the Year todayat Volunteer Alexandria’s 20th Business Philanthropy Summit. The annual event recognizes businesses supporting charitable organizations, outreach and events throughout the region.Schenckshares the award with PenFed Credit Union and the PenFed Foundationin recognition of theircombined support and volunteereffortsin the Greater Washington DC area.

“I am extremely humbled and honored to accept this award on behalf of the entire PenFed team: 2,500 employees who give more of themselves each and every day than they ever ask in return. I am personally energized to come to work each day because I work for PenFed and we live and lead by a simple philosophy: ‘People Helping People,’” Schenck said. “If there is one thing I learned in life and as CEO, it is that driven, passionate people can really make a difference. Together as a team, they are unstoppable.”

The annual Business Philanthropy Summit, held at the George Washington Masonic National Memorial, was established to promote the businesses, nonprofits and government entities working together with residents of Alexandria to increase community wellbeing.

PenFed supports citizens in the Washington metro area through the credit union and its philanthropic arm, the PenFed Foundation. Among the charitable donations PenFed Credit Union and the PenFed Foundation recently made are:  $300,000 to Serve our Willing Warriors to provide respite for wounded warriors at a retreat in Haymarket, Virginia; $125,000 to the Kennedy Center to support free concerts for military families; $100,000 to DC Habitat for Humanity to provide affordable first-time homeownership for local veterans; $75,000 to the Alexandria-based Military Officers Association of America to train veterans in financial literacy; $15,000 to Bunker Labs in Alexandria to deliver educational programming for veteran entrepreneurs.

Additionally, PenFed seized the opportunity to help build accessible homes for wounded warriors in the DC area through donations to the Gary Sinise Foundation and recently launched the Veteran Entrepreneur Investment Program (VEIP), an initiative designed to support veteran-owned startups.

“James Schenck continues to set the example by selflessly serving others; first as a soldier serving our nation and now as a business leader serving our community. I can’t think of a better example of Volunteerism and Philanthropy in business and I am thrilled that he is receiving this award at the 20th annual Volunteer Alexandria Business Philanthropy Summit. His work to expand the PenFed Foundation’s scope and reach while promoting volunteerism has had significant positive impact and is inspiring,” said Marcy Anderson, Founder and President, Federal Professional Solutions Inc., and Volunteer Alexandria Board member.

Headquartered in Alexandria, Virginia, the PenFed Foundation is a national nonprofit organization committed to helping members of the military community secure their financial future. Since 2001, the PenFed Foundation has provided more than $30 million in financial support to veterans, active duty service members, families and caregivers.

Schenck volunteers his time as CEO of the PenFed Foundation without compensation and many other charities and business groups. He recently served as Chairman’s Circle Sponsor of the USO’s 75th Anniversary Gala, and chaired the Washington Business Hall of Fame campaign which raised $1.3 million for Junior Achievement.  He also serves on the boards of the US Chamber of Commerce, National Symphony Orchestra, Northern Virginia Chamber of Commerce, Northern Virginia Technology Council, Greater Washington Hispanic Chamber of Commerce, and Carriage Services (NYSE: CSV).

Schenck was elected National Credit Union Hero of the Year in 2017 in a nationwide vote conducted by Credit Union Magazine based on his embodiment of the credit union ethos of service, advocacy and commitment to community.

A graduate of U.S. Military Academy at West Point and Harvard Business School, Schenck flew Blackhawk helicopters in Korea. He remains an active advocate on behalf of military and veterans’ issues nationwide. In 2015, Schenck was selected by HillVets as one of the 100 most influential and impactful veterans in the United States.

Schenck was honored to share the stage with Jen Walker of the Jen Walker Team who was named the Small Business Philanthropist of the Year.

James Schenck, pictured with Alexandria, Virginia Mayor Allison Silberberg (left), accepts the 2018 Large Business Philanthropist of the Year Award from Volunteer Alexandria Executive Director Marion Brunken (right). Photo courtesy of Lucelle O’Flaherty.

About PenFed Credit Union

Established in 1935, Pentagon Federal Credit Union (PenFed) is America's second-largest federal credit union, serving 2.9 million members worldwide with nearly $34.6 billion in assets. PenFed Credit Union offers market-leading certificates, checking, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services with members' interests always in mind. PenFed Credit Union is federally insured by the NCUA and is an Equal Housing Lender. To learn more about PenFed Credit Union, visit, like us on Facebook and follow us @PenFed on X. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.


Abagail Chambers
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