Tammy Darvish Named President of the PenFed Foundation

Posted December 07 2016
by PenFed Team
PenFed Credit Union News Release

TYSONS, Va., Dec. 7, 2016—Tamara C. “Tammy” Darvish, who volunteered for 18 months as executive director of the PenFed Foundation, has been promoted to the position of president.

“Tammy’s promotion recognizes her extraordinary success and selfless sacrifices in helping thousands of service members and veterans while raising millions of dollars to support our foundation’s programs,” said PenFed Credit Union President and CEO James Schenck, who also serves as the CEO for the PenFed Foundation

Schenck’s recommendation of Darvish’s merit promotion was approved last night in a unanimous vote of confidence by the PenFed Foundation board of directors.

Additionally, Schenck announced the hiring of the Honorable Bruce E. Kasold, effective Jan. 16, 2017, to serve as the PenFed Foundation’s chief operating officer. Kasold graduated from the U.S. Military Academy at West Point and served as a career military officer, followed by service as a congressional staffer and then as a judge on the U.S. Court of Appeals for Veterans Claims. Schenck said, “Bruce’s recent service as chief judge of the U.S. Court of Appeals for Veterans Claims makes him uniquely qualified to lead the PenFed Foundation’s operations forward.”

Darvish will also continue in her dual role as executive vice president and chief operating officer of PenFed Credit Union.

“Throughout her outstanding service to PenFed, Tammy has essentially been doing two full-time jobs—and she is delivering absolutely exceptional results in both roles,” said Schenck. “In her role as a philanthropic leader, there is no one more capable or committed than Tammy. She is larger than life as she organizes creative campaigns that fulfill urgent needs of troops and veterans who have fallen on hard times. I am excited to have an outstanding leadership team in both Tammy and Bruce as we position the PenFed Foundation for greater growth in helping those we serve.”

PenFed Foundation Chairman Fred Pang reported, “Tammy and our foundation team surpassed our $3 million fundraising goal for the entire year in just the first nine months, raising over $3.5 million by the third quarter. Thanks to Tammy’s world-class oversight of our fundraising efforts, the foundation was able to change the lives of many more of our nation’s defenders.”

So far this year, the PenFed Foundation has assisted:

  • 2,264 service members who were facing financial emergencies received Asset Recovery Kits including interest-free loans and free financial counseling;
  • 314 wounded warriors received Military Heroes grants for their families and caregivers (45% more than last year);
  • 100 first-time homebuyers received Dream Makers grants for life-changing down payments and closing costs, benefiting 332 military family members (23% more than last year);
  • And 442 formerly homeless veterans moved off the streets into safe housing as a result of a new partnership with the U.S. Department of Veterans Affairs.

At PenFed Credit Union, Schenck reported, “Tammy is part of the executive leadership team that is setting new records for consumer loans and membership. Driven by its ‘Great Rates’ marketing campaigns, PenFed is on pace to generate a record volume of member loans in 2016 and add more than 150,000 members this year. Tammy’s division, along with PenFed’s other divisions, are achieving unprecedented service scores that rival the most respected global retail brands.”

“Everything Tammy touches turns to gold, based on her professional experiences, capabilities and energy,” Schenck concluded. “She has enriched the lives of millions. From American troops and veterans, to members who need financial services around the world, we are fortunate to have Tammy on PenFed’ s executive team working day and night to help all our members Do Better.”

Under Schenck’s leadership, the PenFed Credit Union and the PenFed Foundation have seen unprecedented growth. Schenck attributes the institution’s successes to recruiting, inspiring and retaining top professionals with unique skill sets from diverse backgrounds who put PenFed members and the foundation’s grantees first.

PenFed Credit Union covers 100% of the foundation’s personnel costs and most of its operating expenditures. As a result, the PenFed Foundation is able to channel the vast majority of its funds to directly benefit the military community it serves.


About the PenFed Foundation


Founded in 2001, the PenFed Foundation is a national nonprofit organization committed to helping members of our military community secure their financial future. It provides service members, veterans, their families and support networks with the skills and resources they need to improve their lives through programs on financial education, credit-building, home ownership, and short-term assistance. Affiliated with PenFed Credit Union, the foundation has the resources to effectively reach military communities across the nation, build strong partnerships, and engage a dedicated corps of volunteers in its mission.

To learn more, visit: www.penfedfoundation.org.

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 over 1.5 million members worldwide with more than $21 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 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 Opportunity Employer: M/F/V/D.