PenFed Foundation Contributes $100K to Military Officers Association of America Financial Education Effort

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Apr 22, 2016, 05:20 ET

ALEXANDRIA, Va., April 22, 2016 /PRNewswire-USNewswire/ -- The PenFed Foundation donated $100,000 to the Military Officers Association of America (MOAA) Military Family Initiative, which will launch a cooperative military financial education effort later this year.

PenFed President and CEO James Schenck and MOAA President and CEO, retired Air Force Lt. Gen. Dana Atkins.

MOAA plans to deliver financial education content tailored to fit transition programs which prepare service members for life outside of the military. The content will be developed in cooperation with transition program coordinators at Army, Marine Corps, Navy, Air Force and Coast Guard installations. Credentialed financial educators will act as facilitators and address such topics as strategic money management, the new military retirement plan and issues of legislative interest.

President and CEO of the PenFed Foundation James Schenck said, "Our partnership with MOAA reflects the DNA of the PenFed Foundation. Serving our nation's defenders and their families is who we are as an organization."

"This type of tailored financial education contributes to the financial readiness of our service members. Whether they serve for 30 years or for three years, we want them to be prepared for the future, said Schenck."

MOAA's President and CEO, retired Air Force Lt. Gen. Dana Atkins, accepted the Foundation's contribution and expressed excitement about the partnership. "We are looking forward to working with the PenFed Foundation leadership and the military community to advance our shared goal of increasing financial and retirement planning awareness in the military community," he said.

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