Employer of the Week | PenFed Credit Union can help vets find a career and manage their money

Julia LeDoux
August 31, 2020 - 3:35 pm
PenFed logo

Penfed Credit Union

For nearly 100 years our Employer of the Week, PenFed Credit Union has been helping provide financial stability and jobs to veterans and their families. 

PenFed Credit Union was established in 1935 and is America's second-largest federal credit union, said its President/CEO James Schenck.

“We are proud to serve over 2 million members worldwide and offer market-leading certificates, checking, savings, credit cards, personal loans, mortgages, auto loans and student loans with members’ interests always in mind,” he said.

Schenck added that PenFed has a strong legacy of being a military-friendly company. 

“We are proud to serve the military community through the PenFed Foundation, whose mission is to equip veterans, active-duty service members, families and caregivers with resources to achieve financial wellbeing,” he said. 

PenFed believes it is important to support veterans as they transition to the civilian workforce, added Schenck 

“Members of the military community know the hard work, grit, and determination it takes to be a valuable asset to the civilian workforce,” he said. “As our team of over 2,700 professionals grows, we will continue to select individuals with the skills, experience, leadership and passion for service the military community brings to the workplace.”  

As part of its ongoing commitment to hiring and supporting the military community, PenFed operates a Military Employment Program focused on every phase of the employment lifecycle for all members of the military community – including veterans, military and surviving spouses, wounded warriors and their caregivers, Reservists and National Guardsmen. 

“In addition to spending 20 percent of its recruiting budget on hiring and retaining veterans and military spouses, PenFed collaborates with dozens of veteran employment organizations, as well as dozens of installation Transition Assistance Program offices, to enhance employment efforts within the broader military community,” said Schenck.

PenFed also donates 2% of its annual net income to charitable organizations, with the majority going to military charities. The PenFed Foundation has provided more than $38.5 million in financial support to veterans, active-duty service members, families and caregivers. 

In March, PenFed Foundation became the first national veterans service organization (VSO) to launch a COVID-19 relief program for emergency financial assistance for veterans and service members. Those interested in supporting the PenFed Foundation's mission to help the military community and their support network can click here. 

PenFed also partners with the U.S. Chamber of Commerce Foundation's Hiring Our Heroes initiative to specifically recruit transitioning service members and military spouses. 

Veterans interested in a career with PenFed should go to its designated military webpage. It allows members of the military community to join a talent community and search for jobs based on their former military occupational specialties.

Know a great company that hires and supports veterans and the military community? Email Julia@connectingvets.com