PenFed Earns Recognition as US Army's Credit Union of the Year

Posted June 24 2016
by PenFed Team
PenFed Credit Union News Release

Fort Hood Branch to Receive Distinguished Credit Union Service Award

ALEXANDRIA, Va., June 23, 2016 — PenFed Credit Union will be recognized as the Army Credit Union of the Year as its branch in Fort Hood, Texas receives the Department of the Army Distinguished Credit Union Service Award.

The award will be presented at the Defense Credit Union Council’s Annual Conference in Boston, Aug. 14-17.

The annual award recognizes the one on-post credit union branch that has provided the most exceptional financial service and support to its community.

President and CEO James Schenck said, “Our success at Fort Hood reflects PenFed’s overall strategy: Provide a best-in-class member experience; become a destination employer; focus on the national defense community and all who support them; and serve as a community leader. This highly competitive award from the U.S. Army is a very tangible indicator that PenFed Branch Manager Greg Ransaw and his dedicated team are taking great care of our members and serving as leaders in the Fort Hood community.”

Fort Hood’s commanding officer Col. Todd Fox nominated the branch for the award. He said, “My endorsement is given without reservation. The executives and staff of PenFed Credit Union display remarkable care and consistent professionalism to the military community for which we are truly grateful.”

Capitalizing on PenFed’s role in serving the national defense community, Col. Fox said, “PenFed continues to be a primary resource for Fort Hood Soldiers and their families.” In describing PenFed’s counter-payday lending program—which made $1.5 million in interest-free loans at Fort Hood in 2015— its consistently low auto loan rates and its community participation and sponsorships, Fox said, “These are just a few of the ways PenFed strives to take care of Soldiers, families and civilians on and around the Fort Hood community.”

Benefiting from PenFed’s many sponsorships are the Directorate of Family and Morale, Welfare & Recreation (DFMWR), Association of United States Army (AUSA), United Services Organization (USO), and Human Resources Management (HRM) Organization.

“Our ultimate goal is to help our members do better,” Schenck concluded. “The fact that the U.S. Army and hundreds of thousands of service members have chosen PenFed makes us even more determined to ensure we do everything in our power to help them do better every day.”

About PenFed Credit Union

Established in 1935 as the War Department Credit Union, PenFed Credit Union is one of the largest credit unions in the country, serving 1.4 million members worldwide, with $20 billion in assets. Its 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, checking, and a wide range of other financial services with its members’ interests always in mind. PenFed Credit Union serves a diverse population, and no military service is required to join. We offer many paths to membership, including numerous employee groups and association affiliations. It’s easy to apply. We invite you to come see why you belong at PenFed Credit Union. PenFed Credit Union is federally insured by the NCUA and is an equal housing lender. To learn more about PenFed Credit Union, visit, 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 Opportunity Employer: M/F/V/D.

About PenFed’s Fort Hood Branch

PenFed’s Fort Hood Branch is located on the largest active-duty armored post in the U.S. More than 74,000 soldiers, family members, and defense contractors live and/or work on Fort Hood. Fort Hood is the Army’s premier installation for the training and deployment of heavy forces. PenFed’s centrally located branch on the main post serves the III Mobile Armored Corps, 1st Cavalry Division, 1st Army, Division West Headquarters, 13th Sustainment Command, subordinate supporting units, and other U.S. Army Forces Command units.

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