PenFed names new president and CEO

Published March 17, 2014 by Veronica Garabelli

Alexandria-based PenFed (Pentagon Federal Credit Union) has named James Schenck president and CEO, effective April 1.

Schenck will replace Frank Pollack, who is retiring after more than 13 years leading the credit union. 

Since 2011, Schenck has been executive vice president at PenFed and president of its subsidiary, PenFed Realty. In the past, he has also served as the credit union’s chief operating officer, chief administrative officer and head of credit and collections. Before joining PenFed, Schenck was an Army officer. His final tour was as special assistant to the secretary of the Army.

Pollack joined PenFed in 1978 and become president and CEO in 2000. While he served as CEO, PenFed grew from $3.2 billion to more than $17 billion in assets. Membership also grew from 400,000 to more than 1.2 million during that time period.

PenFed offers mortgages, automobile loans and credit cards, among other financial services.