PenFed Partners with Habitat for Humanity to Aid DC Neighborhood

ALEXANDRIA, Va., July 1, 2014 /PRNewswire-USNewswire/ -- Homes build neighborhoods. Neighborhoods build communities. And communities build America. That's the message PenFed (Pentagon Federal Credit Union) emphasized last week in making a $150,000 donation to Habitat for Humanity of Washington, D.C. (DC Habitat). PenFed directors and executives were on hand as PenFed President & CEO, James Schenck, presented the check to Habitat for Humanity of Washington, D.C. President & CEO, Susanne Slater.

"These homes are a key part of the Ivy City neighborhood's revitalization," said Schenck. "By helping Habitat for Humanity provide quality shelter for more residents, we're helping the community grow and flourish."

PenFed's donation is just part of the $18 billion credit union's ongoing commitment to improving communities where it has a presence.

"Even though our membership is global, PenFed's heart is in the D.C. Metro area," Schenck added. "Together, PenFed and Habitat for Humanity are making a difference in a section of our nation's capital that needs the help."

Ivy City, Slater said, is a largely industrial area in the central portion of Northeast Washington. It has long faced great challenges, and is one of the city's oldest and smallest communities, with some of its houses dating back a century or more.

Habitat for Humanity's projects on the 1800 block of Central Place includes 11 single-family homes, six of which are being built to the highly efficient passive house standard. These two- and three-bedroom homes will be sold to families in need who are willing and able to partner with DC Habitat. Once this third and final phase of construction in Ivy City is completed in 2015, DC Habitat will have built and rehabilitated a total of 28 homes in this once blighted community.

By partnering with DC Habitat at the Legacy Sponsor level during the non-profit's 25^th anniversary year, PenFed becomes a title sponsor of the "Raising the Roof" benefit to be held November 20 at DC's Union Station.

For more information about PenFed, visit PenFed.org or call 800-247-5626.

For more information about Habitat for Humanity of Washington, D.C., visit www.dchabitat.org.

About PenFed (Pentagon Federal Credit Union)
Established in 1935, PenFed is one of the largest credit unions in the country serving over 1.2 million members worldwide; with more than $18 billion in assets. Its longstanding mission has been to provide superior financial services, responsive to members' needs in a cost effective manner. PenFed offers market leading mortgages, automobile loans, credit cards, checking, and a wide-range of other financial services with its members' interests always in mind. Serving a diverse population, there are many ways to become a PenFed member; including numerous association members and employee groups. PenFed is federally insured by the NCUA and is an equal housing lender. PenFed does business in accordance with the Federal Fair Housing Law, the Equal Credit Opportunity Act, and is a member of NAFCU.

About Habitat for Humanity of Washington, D.C. (DC Habitat)
Habit for Humanity believes that everyone deserves a house they want to call home. That's why they work to eliminate poverty housing and homelessness in the nation's capital by building affordable, energy- and resource-efficient homes for people in need. DC Habitat builds and rehabilitates homes in order to sell them to families who are ineligible for conventional financing. Together with our non-profit partners, we offer low-interest first mortgages and no-interest gap financing on the below market costs of the homes we build. For more information, visit us at www.dchabitat.org.

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SOURCE PenFed