TYSONS, Va., May 8, 2019 /PRNewswire/ -- PenFed Credit Union, the nation's second-largest federal credit union, today announced it was selected by the Military Times as a "Best for Vets" employer of 2019. The annual rankings, which are editorially independent, graded nearly 200 companies on veteran recruitment, culture, military policies and accommodations for reservist employees.
"We are honored to be recognized by Military Times for our commitment to veterans and military spouses," said PenFed President and CEO James Schenck. "We greatly value the skills, experience, leadership and passion for service the military community brings to PenFed. These qualities make veterans and military spouses invaluable additions to our growing team."
As part of an ongoing commitment to hiring and supporting veterans, PenFed launched a Military Employment Program focused on supporting every phase of the employment lifecycle for all members of the military community including veterans, military and surviving spouses, wounded warriors and their caregivers, reservists and National Guardsmen.
In addition to spending 25% of its recruiting budget on veterans, PenFed collaborates with dozens of veteran employment organizations, as well as dozens of installation Transition Assistance Program offices, to enhance military employment efforts.
Veterans interested in a career with a military-friendly company are welcome to join PenFed's Military Talent Pool.
PenFed has a strong legacy of being a military-friendly company and donates 2% of its annual net income to charitable organizations, with the majority going to military charities. The PenFed Foundation – PenFed's charitable arm – was created in 2001 and, since then, has provided more than $30 million in financial support to veterans, active-duty service members, families and caregivers.
The PenFed Foundation Veteran Entrepreneur Investment Program (VEIP) launched last year with a Foundation contribution and matching funding of up to $1 million from PenFed Credit Union. The program provides Veteran-owned start-ups with seed capital to build and grow their businesses, creates a robust network for Veteran-owned businesses to succeed and enables the PenFed Foundation to perpetually reinvest returns in future Veteran-owned businesses.
About PenFed Credit Union
Established in 1935, Pentagon Federal Credit Union (PenFed) is America's second-largest federal credit union, serving 1.7 million members worldwide with $25 billion in assets. PenFed Credit Union offers market-leading certificates, checking, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services with members' interests always in mind. PenFed Credit Union is federally insured by the NCUA and is an Equal Housing Lender. To learn more about PenFed Credit Union, visit PenFed.org, like us on Facebook and follow us @PenFed on Twitter. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.
SOURCE PenFed Credit Union