Employer of the Week: PenFed Credit Union

Our Employer of the Week series features one company each week that has made a commitment to hiring and supporting veterans. This week’s employer is PenFed Credit Union. 

PenFed was established in 1935 and is now one of the country's strongest financial institutions with 1.8 million members worldwide and $25 billion in assets. The company works hard to support veterans with career opportunities, resources, and training programs from the top down — because PenFed's CEO is a former Blackhawk pilot. 

"When I left the military after 13 years, I was able to give back by working for a financial institution that supports all services," said James Schenck, PenFed CEO and Army veteran. "People always say do you miss the Army? Well, I inherited all the services." 

"My transition from the military was seamless because I transitioned from doing something I truly loved, leading men and women, flying Blackhawk helicopters, teaching at West Point economics and finance to giving back to all Americans who want to do better financially," Schenck said. 

About 10 percent of PenFed's current workforce is veteran employees — and Schenck wants to increase that number to 16 percent or double the national average. 

"My goal is to double the national average so we're hiring veterans, we just bought a new service center in San Antonio, Texas, and we've hired 165 individuals in the last quarter."

PenFed goes beyond just hiring veterans, however. The company offers a wide range of well-funded support and training programs for veterans, military spouses, and family members. 

Through Berkshire Hathaway Home Services PenFed Realty, several thousand real estate agents in 80 offices help military personnel move between all 50 states around the country. Spouses and veterans can also participate in training programs to become one of these realtors — free of charge. 

"We find out that they're some of the absolutely top producers in our real estate business," Schenck said of the veterans and military spouses who graduate from the program. 

The company also established the PenFed Foundation in 2001 which offers countless programs to military veterans, family members, and spouses — and every dollar donated goes directly to the programs. PenFed's Veteran Entrepreneur Investment Program helps veterans looking to start their own businesses find the capital and business network they need to get a company off the ground. 

To learn more about the career opportunities and programs available with PenFed click here. 

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