PenFed Credit Union Receives Greater Washington Hispanic Chamber of Commerce's Corporate Community Anchor Award

Award Reflects PenFed's Contributions and Support to the Hispanic Community

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Nov 15, 2021, 16:33 ET

TYSONS, Va., Nov. 15, 2021 /PRNewswire/ -- PenFed Credit Union, the nation's second-largest federal credit union, was honored by the Greater Washington Hispanic Chamber of Commerce (GWHCC) with the Corporate Community Anchor Award for its contributions and support to the Hispanic community during GWHCC's annual gala on the evening of November 13.

PenFed Credit Union President/CEO and PenFed Foundation CEO James Schenck gives remarks at the 45th Annual Greater Washington Hispanic Chamber of Commerce Gala.

PenFed EVP of Consumer Banking & Strategy Ricardo Chamorro gives remarks at the 45th Annual Greater Washington Hispanic Chamber of Commerce Gala.

"Receiving the Corporate Community Anchor Award from the Greater Washington Hispanic Chamber of Commerce is a great honor for PenFed," said PenFed Credit Union President/CEO and PenFed Foundation CEO James Schenck. "Our 3,200 financial professionals at PenFed feel proud to serve the Hispanic community in Greater Washington and all across our nation."

PenFed was selected for the Corporate Community Anchor Award by an advisory group of Greater Washington business veterans.

"PenFed and the great leaders of the Greater Washington Hispanic Chamber of Commerce believe the best way to support the Hispanic community is by creating jobs," said Schenck. "Thanks to the Chamber, the Hispanic community is the fastest growing and most vibrant community in Greater Washington."

Since 2016, PenFed has raised its percentage of Hispanic employees from 8% to nearly 20%. During the pandemic, when many firms were laying off employees, PenFed continued to hire and retain top talent. Even through the pandemic, PenFed's retention rate of Hispanic employees remained at 97%.

Each year from 2018 through 2021, PenFed earned recognition from LATINA Style as a Top 50 US Employer for Latinas. The annual list evaluates corporations on issues deemed most important to LATINA Style readers and includes Latina promotions, recruitment and retention, and increase in the number of Latina employees at the company.

"PenFed's Hispanic teammates are a tremendous asset to our workforce, and we are proud to have more than tripled our number of Hispanic employees in the past five years," said PenFed EVP of Consumer Banking & Strategy Ricardo Chamorro. "PenFed now employs more than 530 Hispanics and we proudly serve more than 300,000 Spanish-speaking members."

PenFed donates up to 2% of its annual net income to charitable organizations, including over $1 million and hundreds of thousands of volunteer hours to Hispanic organizations since 2014.

Founded in 1976, the Greater Washington Hispanic Chamber of Commerce is a membership driven organization that supports the economic development of the Washington, D.C. metropolitan region by facilitating the success of Latino and other minority-owned businesses and the communities they serve through networking, advocacy, education, and access to capital.

About PenFed Credit Union

Established in 1935, Pentagon Federal Credit Union (PenFed) is America's second-largest federal credit union, serving 2.5 million members worldwide with $31 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