PenFed Foundation Helps Raise More Than $675,000 for Troops and Veterans

ALEXANDRIA, VA (September 29, 2016) The PenFed Foundation enlisted the help of 75 corporate and community partners to raise more than $675,000 for troops, veterans, and their families with its annual Military Heroes Golf Classic at Bethesda, Marylands legendary Congressional Country Club. When asked what inspired the efforts to make a difference in the lives of our nations defenders, the PenFed Foundations volunteer President and CEO James Schenck said, "We can never fully repay the debt of gratitude owed to our troops, veterans, and their families. What we can do is provide programs that help them do better each and every day. The moneywe raise for the PenFed Foundation helps military heroes overcome financial emergencies, afford needed medical expenses, and move off the streets into safe accommodations." Summing up lessons learned from the golf tournament, Schenck said, "The outpouring of support for our nations defendersis our way of showing these military heroes that the citizens of a grateful nation have not forgotten their service and sacrifices. I was honored to play a round of golf with a double amputee who loves America and is very proud to have served our nation as a Marine. This experience truly touched me and everyone who was able to meet this extraordinary public servant. It reinforced the importance for all of us to support noble causes that help our active duty service members, veterans, and their families." PenFed Foundation Chairman Fred Pang said, "Our sponsors and participants joined together as an Ohana for this event. Ohana is a Hawaiian word that means family. The PenFed Ohana gave selflessly and generously to support a very special community in our countryour men and women in uniform and their families, who protect and sustain our American way of life." The PenFed Foundations volunteer Executive Director Tammy Darvish led efforts to recruit 60 volunteers, who organized 300 golfers into morning and afternoon rounds on one of Americas most treasured golf courses. Dozens more PenFed Credit Union executives and managers volunteered to make fundraising calls to recruit 75 sponsors. Volunteers also staged a VIP dinner for top supporters. "Our corporate partners are overwhelmingly generous when we ask them to support the troops," said Darvish. "But a successful golf tournament requires more than money. It requires people who are truly committed. Our sponsors, volunteers,board members, and the exceptional staff at Congressional Country Club came together to support a cause that is greater than all of us." PenFed Credit Union provides $1.5 million annually to the PenFed Foundation. This annual disbursement covers 100% of the foundations personnel costs and most of its operating expenditures. As a result, the PenFed Foundation will be able to channel the majority of the golf tournaments proceeds to directly benefit the military community it serves.

About PenFed Foundation

Founded in 2001, the PenFed Foundation is a national nonprofit organization committed to helping members of our military community secure their financial future. It provides service members, veterans, their families and support networks with the skills and resources they need to improve their lives through programs on financial education, credit-building, home ownership, and short-term assistance. Affiliated with PenFed Credit Union, the foundation has the resources to effectively reach military communities across the nation, build strong partnerships, and engage a dedicated corps of volunteers in its mission. The credit union funds the foundation's personnel and most operational costs, demonstrating its strong commitment to the programs the foundation provides. To learn more, visit:www.penfedfoundation.org.