More Than a Half Million Dollars Raised to Support Troops and Veterans

Annual golf tourney results in an outpouring of corporate giving

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Sep 29, 2015, 04:28 ET

ALEXANDRIA, Va., Sept. 29, 2015 /PRNewswire-USNewswire/ -- The PenFed Foundation teamed up with nearly 100 corporate and community partners to raise over $570,000 in support of programs for troops, veterans and their families with its Military Heroes Golf Classic at Bethesda, Md.'s storied Congressional Country Club on Monday.

From left: Retired Gen. George W. Casey, the former 36th chief of staff of the U.S. Army, and PenFed Credit Union Chairman of the Board Edward B. Cody, complete another hole at Congressional.

"This event is a wonderful way to support our nation's defenders—past and present, who at one time or another took an oath to support and defend the Constitution of the United States of America, which guarantees the freedoms we enjoy today. We simply cannot thank our troops, veterans and their families enough," said PenFed Foundation President and CEO James Schenck.

The foundation's Vice President and Executive Director Tammy Darvish spearheaded the sponsorship drive. "The teamwork between the PenFed Foundation and the senior executives from PenFed Credit Union helped trigger an outpouring of corporate giving," she said. "We've all developed some great business relationships over the years, and when we called on them to support the troops, they answered with amazing generosity."

Darvish noted that among the many active duty and veteran participants there were dozens of wounded warriors. "The tournament is a great way to honor, support and celebrate our nation's defenders through a day of fun and friendly competition. Our corporate partners also got the opportunity to connect directly with wounded troops and other members of the military community which our foundation serves," she said.

PenFed Credit Union's Chairman of the Board Edward Cody credited the foundation and its corporate and community partners with hosting a successful fundraising event that will play a key role in meeting critical needs of those in the military community. "It's heartwarming to see this level of support for our troops, veterans and their families," he said. "The needs are great, but organizations like the PenFed Foundation work miracles every day for those who have sacrificed in the name of freedom."

PenFed Credit Union provides two million dollars annually to the PenFed Foundation. This annual disbursement covers 100% of the foundation's personnel costs and most of its operating expenditures. As a result, the PenFed Foundation will be able to channel the majority of the golf tournament's proceeds to directly benefit the military community it serves.

About the PenFed Foundation
Founded in 2001, the PenFed Foundation is a national nonprofit organization committed to helping members of our military community secure their financial future. It provides service members, veterans, their families and support networks with the skills and resources they need to improve their lives through programs on financial education, credit-building, home ownership, and short-term assistance. Affiliated with PenFed Credit Union, the foundation has the resources to effectively reach military communities across the nation, build strong partnerships, and engage a dedicated corps of volunteers in its mission. The credit union funds the foundation's personnel and most operational costs, demonstrating its strong commitment to the programs the foundation provides. To learn more, visit: www.penfedfoundation.org.

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SOURCE PenFed Foundation