PenFed News Highlights Community Impact and Financial Growth

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Credit: pexels.com, Confident woman in business attire speaking into a microphone during a conference indoors.

PenFed has been making a significant impact in the community through its philanthropic efforts. They've donated over $1 million to support military families and veterans in need.

Their financial growth has also been impressive, with a 25% increase in membership over the past year. This growth has enabled them to offer more services and benefits to their members.

PenFed has been recognized for its commitment to financial education, having been awarded the "Best Credit Union for Financial Education" award.

Community Involvement

At PenFed Credit Union, community involvement is a top priority. Employees volunteer to make a difference in their community.

One notable example is when PenFed Credit Union employees volunteered to build a Beaches Habitat for Humanity home for a veteran. This is a testament to their commitment to giving back.

This home was built through a partnership with Beaches Habitat for Humanity, a nonprofit organization that helps families in need.

Charity and Fundraising

Two Volunteers Packing the Charity Goods
Credit: pexels.com, Two Volunteers Packing the Charity Goods

The PenFed Foundation is actively involved in charity and fundraising efforts. The foundation received a $150,000 donation at the NAPE Charities Luncheon.

This donation will support the foundation's mission to enhance the lives of Military Heroes, Afghan Allies, and Veteran Entrepreneurs. The funds will help fund the foundation's programs.

The PenFed Foundation also hosts the LoudounStay Raffle, where a ticket purchase of $100 can win an unforgettable weekend experience. Proceeds from the raffle will go towards supporting the foundation's mission.

Loudoun Stay Raffle

The Loudoun Stay Raffle is a unique opportunity to win an unforgettable weekend experience while supporting a great cause.

You can participate in the Loudoun Stay Raffle by purchasing a ticket for $100.

Your contribution will not only give you a chance to win, but also support the PenFed Foundation's mission to enhance the lives of Military Heroes.

NAPE Luncheon Gift Recipient

The PenFed Foundation received a $150,000 donation at the NAPE Charities Luncheon.

The NAPE Charities Luncheon is a significant event where charitable organizations receive substantial gifts. The PenFed Foundation was the recipient of a $150,000 gift at this event.

Katie Watson and David Clark accepted the donation on behalf of the PenFed Foundation, with David Clark giving remarks to the audience.

Financial Habits

Credit: youtube.com, Navigate your financial journey with Penfed Credit Union

PenFed members can take advantage of their Credit Card Rewards Program, which offers 5x points on gas and 3x points on groceries, and can redeem points for cash back, travel, and other rewards.

By paying off high-interest debt, such as credit card balances, members can save money on interest charges and free up more money in their budget for savings and investments.

PenFed members can take advantage of their free financial planning tool, which helps them create a personalized budget and set financial goals.

Saving money on everyday expenses, such as groceries and gas, can add up to make a big difference in your finances over time.

Members who use the PenFed Mobile Banking app can take advantage of instant account alerts, which notify them of large transactions or unusual activity on their accounts.

By automating their savings and investments, members can make saving easier and less prone to being neglected.

PenFed members who use the Credit Card Rewards Program can earn up to 5x points on gas, which can be redeemed for cash back, travel, and other rewards.

Frequently Asked Questions

Who did PenFed merge with?

PenFed merged with Valor in 2017 and Progressive Credit Union in 2019, expanding its membership and services.

Is PenFed Credit Union trustworthy?

Pentagon Federal Credit Union is a reputable option with competitive interest rates, but be aware of potential early withdrawal penalties for certain accounts.

Is PenFed the largest credit union?

No, PenFed is not the largest credit union, as it is America's second-largest federal credit union.

James Hoeger-Bergnaum

Senior Assigning Editor

James Hoeger-Bergnaum is an experienced Assigning Editor with a proven track record of delivering high-quality content. With a keen eye for detail and a passion for storytelling, James has curated articles that captivate and inform readers. His expertise spans a wide range of subjects, including in-depth explorations of the New York financial landscape.

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