Take the PenFed and Military Saves Pledge and share your story for a chance to win $1,000 in PenFed’s Video Contest

Promoting the importance of savings to military service members, retirees, and family members, the Military Saves Week 2015 campaign event runs February 23-28.

ALEXANDRIA, VA (February 20, 2015) — Pentagon Federal Credit Union (PenFed) and its employees have joined the military services and a cache of other organizations in promoting the importance of savings. The employees are “Taking the Pledge” during the 2015 Military Saves campaign. The credit union is also encouraging its members to pledge support during the national campaign event kick-off this month.

The Military Saves Week 2015 campaign event runs February 23-28. The campaign is dedicated to motivating all military service members, retirees, and family members to evaluate and set goals for savings, take stock, and then take the Military Saves Pledge.

“The concept is very simple. Pay yourself first. Even if you start small, think big,” said James Schenck, president and CEO of PenFed. 

Military Saves is managed by the nonprofit Consumer Federation of America (CFA) and seeks to motivate, encourage, and support servicemembers and military families to save money, reduce debt, and build wealth.

Take the Pledge

PenFed members can participate and take the Military Saves Pledge in just three simple steps:

  1. Set a Goal. What is the participant saving for?
  2. Make a Plan. Have a financial savings plan in mind. This will help participants set goals. For example: Make a pledge to put $10 per paycheck into a savings account.
  3. Save Automatically. Participants can do so through the “You Name It” account.

PenFed Video Contest Cash Giveaway

In addition to taking the Military Saves Pledge, PenFed is sponsoring a Video Contest Cash Giveaway. Now through March 31, 2015, PenFed members and non-members can share their reasons for taking the pledge and then submit video entries that share what they are saving for.

Members may also participate in the contest judging by voting on their favorites—once a day, every day through March 31.

The top ten videos with the most votes will then be judged by a select group of employees at PenFed. The winner will be awarded $1000 in cash. For complete giveaway details, visit

PenFed’s Commitment to Members 
PenFed is known for its enduring commitment to continually create innovative financial products and services that save money, add value, and further the financial well-being of its members.

As an industry leader in providing some of the lowest rates in the nation on mortgage, auto, and credit card lending, the credit union also offers competitive returns on its certificates, and lower or fewer fees associated with its checking and savings account programs.

To learn more about PenFed or membership eligibility, visit

About PenFed
Established in 1935 as the War Department Credit Union, PenFed is one of the largest credit unions in the country, serving 1.3 million members worldwide; with nearly $18 billion in assets. Its long-standing mission has been to provide superior financial services in a cost effective manner, while being responsive to members’ needs. PenFed offers market-leading mortgages, automobile loans, credit cards, checking, and a wide range of other financial services with its members’ interests always in mind. Serving a diverse population, PenFed offers many ways to become a member; including numerous employee groups and association affiliations. PenFed is federally insured by the NCUA and is an equal housing lender. PenFed does business in accordance with the Federal Fair Housing Law, the Equal Credit Opportunity Act, and is a member of NAFCU. To learn more about PenFed, visit, like us on Facebook and follow @PenFed on Twitter. Interested in working for PenFed? Check us out on Linkedin.

More News