PenFed Credit Union Donates $50,000 to Hampton University in Honor of the Late Colonel Lonnie Lee Stith (USA, Ret) Esq.
TYSONS, Va., March 30, 2018 – PenFed Credit Union executives and Board members today presented a donation of $50,000 to Hampton University for the late Colonel Lonnie Lee Stith (USA, Ret) Esq. scholarship fund.
An alumnus of Hampton University, Colonel Stith served on the PenFed Board of Directors for 11 years and the PenFed Foundation Board of Directors for eight years, three of which he served as Vice Chairman. During his tenure at the PenFed Foundation, the Lee & Penny Anderson Defenders Lodge was built, and has since provided nearly 100,000 free bed nights for veterans receiving outpatient treatment at the United States Veterans Administration Polytrauma Center in Palo Alto, California, saving wounded warriors more than $22 million in hotel bills. During Colonel Stith’s volunteer service on the Board, PenFed grew to serve more than 1.6 million members with assets of more than $23 billion.
“We are honored and humbled to present this donation for the Colonel Lonnie Lee Stith Scholarship Fund,” said PenFed President and CEO James Schenck. “Colonel Stith had a tremendous impact on PenFed Credit Union, the PenFed Foundation, and on the lives of the students at Hampton University. As a member of the military, he bravely served our nation. This donation serves as a testament to his legacy and dedication to volunteerism and philanthropy.”
In addition to this scholarship, PenFed supports Hampton University’s 5-Year MBA Program through its internship program. In 2016 and 2017, PenFed hosted interns from Hampton University. These interns bring high-quality leadership and skill sets to PenFed’s workforce each year.
On Sunday, April 1, Hampton University will celebrate its 150th anniversary and the 40th anniversary of Dr. William R. Harvey’s presidency.
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 over 1.6 million members worldwide with $23 billion in assets. Our long-standing mission has been to provide superior financial services in a cost-effective manner, while being responsive to members’ needs. 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. PenFed Credit Union serves a diverse population, and no military service is required to join. PenFed Credit Union offers many paths to membership, including numerous employee groups and association affiliations. 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.