PenFed Foundation contributes $100K to Military Officers Association of America financial education effort
TYSONS, VA (April 26, 2016) — The PenFed Foundation donated $100,000 to the Military Officers Association of America (MOAA) Military Family Initiative, which will launch a cooperative military financial education effort later this year.
MOAA plans to deliver financial education content tailored to fit transition programs which prepare service members for life outside of the military. The content will be developed in cooperation with transition program coordinators at Army, Marine Corps, Navy, Air Force and Coast Guard installations. Credentialed financial educators will act as facilitators and address such topics as strategic money management, the new military retirement plan and issues of legislative interest.
President and CEO of the PenFed Foundation James Schenck said, “Our partnership with MOAA reflects the DNA of the PenFed Foundation. Serving our nation’s defenders and their families is who we are as an organization.”
“This type of tailored financial education contributes to the financial readiness of our service members. Whether they serve for 30 years or for three years, we want them to be prepared for the future, said Schenck.”
MOAA’s President and CEO, retired Air Force Lt. Gen. Dana Atkins, accepted the Foundation’s contribution and expressed excitement about the partnership. “We are looking forward to working with the PenFed Foundation leadership and the military community to advance our shared goal of increasing financial and retirement planning awareness in the military community,” he said.
Photo caption: PenFed President and CEO James Schenck and MOAA President and CEO, retired Air Force Lt. Gen. Dana Atkins.
About PenFed Foundation
Founded in 2001, The PenFed Foundation is a national nonprofit organization that supports veterans in their transition from service to success. Affiliated with PenFed Credit Union, the Foundation has provided more than $55 million in financial support to veterans, active-duty service members and military families. The credit union funds the Foundation's personnel and most operational costs, allowing 99% of incoming donations to go directly to our programs. To learn more, visit www.penfedfoundation.org.
