TYSONS, Va.– PenFed Credit Union has donated $20,000 to local San Diego charities as an on-going initiative to give back to the members of the communities in which PenFed teammates live and work.
PenFed, which operates a financial center in Miramar, donated $15,000 to the Jacobs and Cushman San Diego Food Bank and $5,000 to the Support The Enlisted Project (STEP).
“PenFed Credit Union Chairman Ed Cody and I were honored to present donations to the San Diego Food Bank, which feeds over eight million meals a year to help others, and to Support The Enlisted Project, which assists junior enlisted service members with financial literacy and grants during times of financial emergencies,” said PenFed Credit Union President/CEO and PenFed Foundation CEO James Schenck. “Both the food bank and STEP are already seeing a spike in those needing help because of inflation and increased living expenses in all areas. At PenFed we are continuing our efforts to help alleviate the struggles of those around us in the communities in which we live.”
PenFed said it chose Jacobs and Cushman San Diego Food Bank as a $15,000 donation recipient due to the organization’s standing as the largest hunger-relief organization in San Diego County and the fact the organization distributed over 63 million pounds of food last year. On average, the San Diego Food Bank serves 500,000 people per month in San Diego County.
PenFed also selected Support The Enlisted Project for a $5,000 donation to aid the organization’s efforts building financial self-sufficiency among junior active-duty enlisted members, recently discharged enlisted veterans and their families facing financial crisis through counseling, education and grants.
PenFed said it has a strong legacy of being a military-friendly company and donates up to 2% of its annual net income to charitable organizations, with the majority going to military charities. The PenFed Foundation, a national 501(c)3 founded by PenFed Credit Union, was created in 2001 and, since then, has provided more than $42.5 million in financial support to veterans, active-duty service members, families, and caregivers.