Finance | Insurance 2023: JAMES SCHENCK 

PRESIDENT AND CEO, PENTAGON FEDERAL CREDIT UNION, TYSONS

Published August 30, 2023 by Virginia Business

Since becoming CEO in 2014, Schenck has led a period of growth for PenFed, the nation’s second largest federal credit union, with 2.9 million members. During his tenure, PenFed has grown its assets from $17.6 billion to $35.5 billion in 2022 and more than doubled its membership. The credit union reported $1.18 billion in 2022 net revenue.

Schenck joined PenFed’s executive leadership team in 2001, and from 2011 to 2014 served as the credit union’s executive vice president and president of its realty subsidiary.

Prior to joining PenFed, the United States Military Academy and Harvard Business School graduate served 13 years in the U.S. Army, piloting Black Hawk helicopters, training Army aviators and teaching economics and finance at West Point.

Schenck is also CEO of the PenFed Foundation, which donated $2.2 million to more than 100 charitable organizations in 2022.

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