TYSONS Va.– PenFed Credit Union has announced the opening of its transportation storefront at the Montgomery County Junior Achievement Finance Parkin Thomas Edison High School of Technology. The storefront is part of an innovative and dynamic ecosystem where students experience real-life situations and make financial decisions, the credit union said.
“PenFed is committed to the next generation and helping today’s youth prepare for a sound financial future,” said James Schenck, president/CEO of PenFed Credit Union.
The PenFed transportation storefront will serve 12,000 Montgomery County Public School seventh graders annually. Students will learn about budgeting for and financing a vehicle while visiting the storefront.
“The pathways that lead to adulthood and earned independence have many milestones, and for many individuals, nothing compares to the first time you sit behind the wheel of your first car. It is the epitome of independence,” said Schenck. “Therefore, I cannot think of a better way to provide students with a real world, financial learning experience in a safe, educational environment that will benefit them for their entire adult lives.”
PenFed said it sponsored the design and build of the storefront that is part of the 25,000-square-foot experiential financial literacy supercenter located on the campus of Thomas Edison High School of Technology in Silver Spring, Md. PenFed also sponsors a storefront in the Fairfax County Junior Achievement Finance Park.
"Financial literacy is critical to the long-term well-being of our region and nation," said Ed Grenier, President and CEO, Junior Achievement of Greater Washington. "We greatly appreciate PenFed’s investment in helping our young people learn how to budget and start financially healthy habits as they become income-earning members of the community.”
It was a visit in 2015 to the Junior Achievement Finance Park in Landover, Md. that first inspired Schenck and members of the PenFed team. Since that initial visit, Schenck chaired the Washington Business Hall of Fame Committee and its $1.3 million gala fundraising effort to benefit Junior Achievement of Greater Washington. Additionally, PenFed has been a very active sponsor and supporter of Junior Achievement of Greater Washington.
Before students travel to Junior Achievement Finance Park, they take part in Junior Achievement’s unique 14-lesson classroom curriculum taught by their teacher. This knowledge serves as a foundation in personal finance education and gives them the skills they need to experience their time at the financial park. A student’s experience culminates at Junior Achievement Finance Park, where they have the opportunity to put their newly learned skills to the test through practical application in a digital and innovative learning environment.