PenFed Credit Union Provides Nearly $100,000 of Rent-Free Space to Armed Services YMCA in Support of Military Families

PenFed Office Space in Woodbridge, Va. is Used as Armed Services YMCA's National Headquarters

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Jun 15, 2020, 16:07 ET

TYSONS, Va., June 15, 2020 /PRNewswire/ -- PenFed Credit Union, the nation's second largest federal credit union, today announced the donation of nearly $100,000 of rent-free space in Woodbridge, Va. serving as the national headquarters of the Armed Services YMCA. PenFed supports Armed Services YMCA's mission of helping junior-enlisted military service members and their families thrive wherever the military sends them. PenFed is making the Armed Services YMCA national headquarters space rent-free through the end of 2020.

"PenFed is proud to support the Armed Services YMCA and we are honored to help positively impact the lives of service members and their families here in the National Capital Region," said PenFed Credit Union President/CEO and PenFed Foundation CEO James Schenck. "The Armed Services YMCA does tremendous work helping service members with the challenges they face while serving to ensure our nation's safety and freedoms. PenFed is committed to donating $2 million in 2020 to celebrate our 2 million member milestone by giving back to charities that support the communities where our members work and live."

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 $38.5 million in financial support to veterans, active-duty service members, families and caregivers.

"On behalf of the young men and women who serve our country and families, the Armed Services YMCA extends sincere thanks for PenFed's generous gift," said Armed Services YMCA CEO and retired U.S. Navy Vice Adm. William French. "The donation of this space allows us to provide vital programs that promote military readiness by strengthening the families that stand behind our service members."

About PenFed Credit Union
Established in 1935, Pentagon Federal Credit Union (PenFed) is America's second-largest federal credit union, serving over 2 million members worldwide with over $26 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 with members' interests always in mind. 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