GUAYNABO, Puerto Rico—Influential community, business and military leaders from the Greater San Juan area joined board members and executives from Virginia-based PenFed Credit Union in celebrating the opening of the $19-billion CU’s new location here.
The festive event began with distinguished San Juan leaders and PenFed representatives from its board and executive team participating in a ceremonial ribbon-cutting in the San Patricio Branch. PenFed Credit Union's delegation, led by Chairman of the Board Ed Cody, President and CEO James Schenck, and Executive Vice President and Chief Operating Officer Kevyn Myers were on hand to greet members and make a special presentation during the opening ceremonies. The celebration was open to the public and featured live music from the local Latin Jazz band, Pedregal.
More than 100,000 PenFed members reside in Puerto Rico, and the island has long been a key market for credit union. The credit union serves a diverse population, and no military service is required to join. PenFed offers an easy application process and provides many paths to membership including numerous employee groups and association affiliations.
Cody and Schenck expressed their appreciation for Puerto Rico's robust membership. "Our brand has done particularly well here and it's wonderful to have the opportunity to come down and meet some of our members in Puerto Rico. They are the people responsible for much of the success PenFed has enjoyed here," said Cody.
Schenck's comments honored the long tradition of Puerto Rican men and women answering the nation's call to duty and the many ways in which they have distinguished themselves over the past decades. He stated, "PenFed's sole mission is to help our nation's defenders and those who support them Do Better in their financial lives."