PenFed Joins Government, Community and Business Leaders at the Grand Opening of Maryland's First Financial Literacy Supercenter

ALEXANDRIA, Va., Oct. 27, 2015 /PRNewswire-USNewswire/ -- Senior executives from PenFed Credit Union were joined by a U.S. State Representative, government officials from the state of Maryland, Prince George's County and a host of corporate partners at today's grand opening of Maryland's first Junior Achievement Finance Park®. The 13,500-square-foot experiential financial literacy supercenter, located on the campus of G. James Gholson Middle School and Cora L. Rice Elementary School in Landover, Maryland is the second in the region, and will serve 9,000 students from Prince George's County Public Schools each year.

"School systems have realized that financial preparedness is something that our kids need when it comes to getting ahead just as much as they need science, technology and math," said Tammy Darvish, PenFed Credit Union executive vice president of business development, marketing and government and community affairs. Earlier this year, Darvish was honored with Montgomery County, Maryland's 2015 William Donald Schaefer Helping People Award for her volunteer work in teaching financial readiness to high school students.

"As a leading financial services provider, PenFed sees the promotion of financial readiness as a serious social responsibility," said Darvish.

Before students travel to JA Finance Park®, they take part in JA's unique 14-lesson classroom curriculum taught by their teacher. This knowledge serves as a foundation in personal finance education and gives them the skills they need to take on their JA Finance Park® experience successfully. Students' experience culminates at JA Finance Park®, where they have the opportunity to put their newly-learned skills to the test via practical application in a digital, 21st century, innovative learning environment.

Financial decisions made at the variety of storefronts and kiosks in the park's "mini city" correlate to the personal budget lines each student must manage during their JA Finance Park® visit.

There is a PenFed Credit Union "branch" where students can test their budgeting skills by "financing" a car. "Just like in real life, each choice a student makes—the type of car, the options, the term of the loan, etc., — will have an impact on their bottom line. This is a wonderful way to help kids learn how to make smart financial choices early in life," said Zubair Rana, chief marketing officer at PenFed Credit Union.

As the students enter the doors of JA Finance Park®, they leave behind their lives as middle school students and assume an adult financial identity: an avatar with a career, salary, credit score, debt, a family and financial obligations. On tablet computers, led by volunteer role models from the community, students make their way through various phases of the day, budgeting and adjusting for life's unexpected events.

The Department of Treasury reported that the average high school student scored a 56% failing grade on the Financial Literacy Challenge, a test designed to assess financial knowledge. "JA Finance Park is about inspiring a generation of Prince George's County youth to be financially capable. It's about giving them the power to make the right financial choices and a new perspective on why staying in school and setting college and career goals is important to their ability to achieve their dreams," said Ed Grenier, president and CEO of Junior Achievement of Greater Washington.

U.S. Representative, Donna Edwards (D-MD 4th District), a former Junior Achievement® student, said "Today's opening of JA Finance Park in Prince George's County, will allow thousands of students to learn, through hands-on experiences, about making sound financial decisions."

"This effort should serve as an example for our state, region, and the nation as to what public-private partnerships can achieve," she said.

PenFed Credit Union's partners include Capital One Investing, Chick-fil-A of Capital Boulevard and Steeplechase, Community Foundation of the National Capital Area, Doctor's Community Hospital, E*TRADE, Enterprise Rent a Car, Financial Assurance Corporation, Geico, Lerner, Maryland-National Capital Park and Planning Commission, Pepco Holdings, Inc., Prince George's County Community College, United Healthcare, Walmart, Washington Gas and the Washington Redskins Charitable Foundation.

About PenFed Credit Union
Established in 1935 as the War Department Credit Union, PenFed Credit Union is one of the largest credit unions in the country, serving 1.4 million members worldwide; with $19 billion in assets. Its long-standing mission has been to provide superior financial services in a cost effective manner, while being responsive to members' needs. PenFed Credit Union offers market-leading mortgages, automobile loans, credit cards, checking, and a wide range of other financial services with its members' interests always in mind. PenFed Credit Union serves a diverse population, and no military service is required to join. We offer many paths to membership, including numerous employee groups and association affiliations. It's easy to apply. We invite you to come see why you belong at PenFed Credit Union. 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 Opportunity Employer: M/F/V/D.

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