The House That PenFed Helped Build Gets an Owner

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Nov 20, 2014, 06:11 ET

ALEXANDRIA, Va., Nov. 20, 2014 /PRNewswire-USNewswire/ -- When Pentagon Federal Credit Union (PenFed) partnered for the second time with Habitat for Humanity of Washington, DC in July of this year, the home site at Northeast Washington, DC's 56^th Place didn't look like much. "It was a simple construction site with only a few wooden frames up," said PenFed President and CEO James Schenck. "Now, there's a young Sailor who, at last month's ribbon cutting ceremony, turned the key, and took ownership of a modern, energy efficient home that PenFed played a role in building."

PenFed donated $5,000 that went directly toward the construction of the modern townhome, and several executives from the credit union performed volunteer construction work on it during their spare time. PenFed's Executive Vice President and Chief Operating Officer Kevyn Myers, was on hand for the recent dedication ceremony for the new house. "The sense of satisfaction one gets from working on a Habitat for Humanity home is huge," said Myers. "Being there to see the excitement on the face of the new owner--a young woman who's serving our country and raising a family, was priceless."

Since the summer of 2013, PenFed has pledged a total of $155,000 to DC Habitat for housing construction. PenFed has also been a strong supporter of DC Habitat's Homes for Vets initiative in previous years, and along with other corporate donors, the credit union is proud to sponsor tonight's celebratory fundraiser, "Raising the Roof," at which Schenck will make remarks. The Union Station event will mark the philanthropic organization's 25 years of building hope and changing lives in the nation's capital. With "Raising the Roof," DC Habitat is seeking to raise $1 million to fund construction of its next 25 homes in the District.

About PenFed
Established in 1935 as the War Department Credit Union, PenFed is one of the largest credit unions in the country, serving 1.3 million members worldwide; with more than $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 offers market-leading mortgages, automobile loans, credit cards, checking, and a wide range of other financial services with its members' interests always in mind. Serving a diverse population, PenFed offers many ways to become a member; including numerous association affiliations and employee groups. PenFed is federally insured by the NCUA and is an equal housing lender. PenFed does business in accordance with the Federal Fair Housing Law, the Equal Credit Opportunity Act, and is a member of NAFCU. To learn more about PenFed, visit PenFed.org.

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