PenFed Credit Union Named 'Top Veteran-Friendly Company' by U.S. Veterans Magazine

Competitive Annual Review Evaluates Companies on Support for the Military Community and Veteran Hiring Practices

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Jul 03, 2019, 10:33 ET

TYSONS, Va., July 3, 2019 /PRNewswire/ -- PenFed Credit Union, the nation's second-largest federal credit union, today announced it was selected by U.S. Veterans Magazine as a Top Veteran-Friendly Company of 2019. The annual unbiased evaluation incorporates market research, independent research, diversity conference participation and survey responses from over 350 companies to determine which corporations best support employment opportunities for veterans.

"We are proud to be recognized by U.S. Veterans Magazine for our commitment to selecting military veterans, transitioning service members and military spouses to join our growing workforce," said PenFed President and CEO James Schenck. "These brave men and women bring a wealth of experience, skills and leadership that strengthen our PenFed team."

As part of an ongoing commitment to selecting and supporting veterans, PenFed launched a Military Employment Program focused on supporting 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 25% of its recruiting budget on veterans, PenFed collaborates with dozens of veteran employment organizations, as well as dozens of installation Transition Assistance Program offices, to enhance military employment efforts. Currently, over 11% of PenFed employees have a military affiliation.

PenFed has a strong legacy of being a military-friendly company. The credit union donates 2% of its annual net income to charitable organizations, with the majority going to military charities. The PenFed Foundation – PenFed's charitable arm – was created in 2001 and, since then, has provided more than $30 million in financial support to veterans, active-duty service members, families and caregivers.

The PenFed Foundation Veteran Entrepreneur Investment Program (VEIP) launched last year with a Foundation contribution and matching funding of up to $1 million from PenFed Credit Union. The program provides veteran-owned start-ups with seed capital to build and grow their businesses, creates a robust network for veteran-owned businesses to succeed and enables the PenFed Foundation to perpetually reinvest returns in future veteran-owned businesses.

PenFed is also recognized as a 'Best for Vets' Employer 2019 by Military Times.

For those veterans interested in a career with a military-friendly company, consider joining PenFed's Military Talent Pool.

About PenFed Credit Union
Established in 1935, Pentagon Federal Credit Union (PenFed) is America's second-largest federal credit union, serving 1.7 million members worldwide with $25 billion in assets. PenFed Credit Union offers market-leading certificates, checking, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services. Our mission is to empower members of our community to achieve their financial well-being. PenFed Credit Union is federally insured by the NCUA and is an Equal Housing Lender. To learn more about PenFed Credit Union, visit PenFed.org, like us on Facebook and follow us @PenFed on Twitter. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.

SOURCE PenFed Credit Union