PenFed Credit Union’s Transportation Storefront Opens at Montgomery County Junior Achievement Finance Park®
TYSONS Va., Oct. 22, 2018 – PenFed Credit Union, the nation’s second largest federal credit union, today announced the opening of its transportation storefront at the Montgomery County Junior Achievement Finance Park® located in 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.
“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 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, Maryland. 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, Maryland 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.
Junior Achievement is the world’s largest organization dedicated to educating students in grades K-12 about financial literacy, work readiness, and entrepreneurship, reaching more than eight million students in 100 countries worldwide.
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.
About PenFed Credit Union
Established in 1935 as the War Department Credit Union, Pentagon Federal Credit Union (PenFed) is America’s second-largest federal credit union, serving 1.7 million members worldwide with over $24 billion in assets. Our mission is to help members reach their financial potential. PenFed Credit Union offers market-leading mortgages, automobile loans, credit cards, student loans, checking, certificates, and a wide range of other financial services with members’ interests always in mind. We have a proud history of serving those in the Armed Forces, Department of Defense, Department of Homeland Security, Military Associations, eligible veterans and retirees, and their families. You may also qualify through membership in select organizations within our field of membership. 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.
About Junior Achievement of Greater Washington
Since 1965, Junior Achievement of Greater Washington has inspired the next generation to be financially capable and tenacious, equipped with the tools to solve problems creatively, manage risk effectively, and welcome opportunity. Through experiential financial literacy, work readiness, and entrepreneurship K-12 programs and capstone experiences taught by volunteer role models from the community, they inspire the next generation to answer the demands of the 21st century economy with “I can.” During the 2017-2018 school year alone, Junior Achievement of Greater Washington delivered its programs to almost 70,000 K-12 students throughout the region. In the last 50 years, Junior Achievement of Greater Washington has impacted the lives of more than 1,000,000 young people in the District, Maryland and Virginia.