PenFed CEO James Schenck recognized for credit union’s philanthropy

Published May 30, 2018 by Paula C. Squires

PenFed President and CEO James Schenck was recognized Wednesday as the 2018 Large Business Philanthropist of the Year by Volunteer Alexandria.

The award came during the group’s 20th Business Philanthropy Summit, an annual event that recognizes businesses that support charitable organizations, outreach and events throughout the region.

Schenck shares the award with PenFed Credit Union and the PenFed Foundation in recognition of their combined support in the greater Washington D.C. area, with the credit union and its foundation on target to donate $3.5 million to area organizations this year.

“I am extremely humbled and honored to accept this award on behalf of the entire PenFed team: 2,500 employees who give more of themselves each and every day than they ever ask in return,” Schenck said in a statement.

The annual summit, held at the George Washington Masonic National Memorial, promotes businesses, nonprofits and government entities working together with Alexandria residents to increase community wellbeing.

PenFed’s recent charitable donations include $300,000 to Serve our Willing Warriors to provide respite for wounded warriors at a retreat in Haymarket; $125,000 to the Kennedy Center to support free concerts for military families; and $100,000 to D.C.  Habitat for Humanity to provide affordable first-time homeownership for local veterans.

With its headquarters in Alexandria, the PenFed Foundation is a national nonprofit organization committed to helping members of the military community. Since 2001, it has provided more than $30 million in financial support to veterans, active duty service members, families and caregivers. PenFed is the country’s second-largest federal credit union, serving more than 1.6 million members worldwide with $23 billion in assets.
 
Schenck, a graduate of the U.S. Military Academy at West Point and Harvard Business School, volunteers his time as CEO of the PenFed Foundation without compensation. He also recently chaired the Washington Business Hall of Fame campaign, which raised $1.3 million for Junior Achievement. 

Schenck serves on many regional community boards including the U.S.  Chamber of Commerce, National Symphony Orchestra, Northern Virginia Chamber of Commerce, Northern Virginia Technology Council and Greater Washington Hispanic Chamber of Commerce.

Jen Walker of the Jen Walker Team of McEnearney Associates Realtors was named the Small Business Philanthropist of the Year.