PenFed Foundation raises nearly $1 million for veterans and military community at 20th annual Military Heroes Golf Classic

Those who were impacted by and responded to the terrorist attacks of 9/11 were honored during the event.

TYSONS, VA (September 13, 2023)The PenFed Foundation, a national 501(c)3 founded by PenFed Credit Union, joined community and business leaders to raise nearly $1 million to support veterans and the military community at the 20th annual Military Heroes Golf Classic on Monday, September 11. 

Those who were impacted by and responded to the terrorist attacks of September 11, 2001, were honored with a moment of silence. 

“We are thrilled to have raised nearly another $1 million  at the Military Heroes Golf Classic this year and look forward to continuing to support our military heroes who have made incredible sacrifices for our nation,” said PenFed Credit Union SVP, PenFed Digital and PenFed Foundation President Andrea McCarren. “Thanks to the commitment of our dedicated volunteers and donors over the past 22 years, the PenFed Foundation has delivered financial support totaling over $55 million and transformed the lives of over 150,000 military families.”

During a dinner for participants held the evening before the golf event, James Schenck, President/CEO of PenFed Credit Union and CEO of the PenFed Foundation, reminded that “Freedom isn’t free. Over 247 years, the brave men and women of America’s Armed Forces have fought 12 wars to defend our freedom.” He gave special recognition to those in attendance who have served our nation. 

The PenFed Foundation’s Afghan Allies program has helped 50 families and over 180 refugees resettle in the United States since the fall of Kabul, Afghanistan. The program was founded in November 2021 to assist refugees who are proven to have supported our nation’s values in exemplary ways, with a particular focus on resettling Afghan women soldiers and their families who worked alongside U.S. Army women soldiers through the Army’s Cultural Support Team.

Founded in 1935 as the War Department Credit Union, PenFed Credit Union’s core membership is comprised of members of the national defense community. The PenFed Foundation began in the wake of September 11, 2001. In response to the attacks, PenFed Credit Union launched the PenFed Foundation to support service members, veterans and their families. The PenFed Foundation has served members of the military community through programs providing financial education, credit-building, homeownership, short-term assistance and veteran entrepreneurial support services.

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 $50 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, please visit


Abagail Chambers
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