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PENFED FOUNDATION

Be a hero to a military hero.


SERVING OUR MILITARY HEROES

U.S. Army   |   U.S. Air Force   |   U.S. Navy  |  U.S. Marine Corps  |  U.S. Coast Guard  |  U.S. Army Reserve  |  U.S. Air Force Reserve

U.S. Naval Reserve  |  U.S. Marine Corps Reserve  |  U.S. Coast Guard Reserve  |  National Guard

 

The PenFed Foundation for Military Heroes is a 501(c)3 nonprofit with a mission to empower military service members, veterans and their communities with the skills and resources to realize financial stability and opportunity. Since 2001, the PenFed Foundation has provided more than $38.5 million in financial support to more than 140,000 military families. Thanks to the generosity of the PenFed Credit Union which pays the majority of Foundation overhead, more than 95% of each donation goes directly to support our programs.

Our affiliation with PenFed Credit Union gives us the resources to reach military and veteran communities across the country. But we need your support to continue delivering our wide range of programs and services. Learn more about our programs and see how you can make a difference.

 

HOW WE WORK

 

Access to Capital Education

The Veteran Entrepreneur Investment Program (VEIP) provides veteran-owned companies the resources and network they need to access capital to build and grow their businesses. In 2020, we reached more than 3,400 veteran entrepreneurs. We do this through:

Education. Entrepreneurship training—webinars, workshops and bootcamps presenting topics that focus on accessing capital.

Preparation. The Master’s Program presented by SOSi prepares veteran-owned startups to raise investor funds to scale their companies and tackle the challenge of access to capital.

 

Investment

When veterans start a business, they tend to out-earn non-veteran entrepreneurs. Despite this, 60% of veterans experience a financial shortfall when starting their own business.

In 2021, the PenFed Foundation was the first Veteran Service Organization (VSO) to launch an impact venture fund off of the success of our donor-based investment Fund Alpha.

The Veteran Entrepreneur Fund Bravo is an impact venture capital fund created to generate high returns by investing in carefully selected and developed veteran entrepreneurs.

Earnings from the fund are reinvested in other veteran entrepreneurs and charitable programs that support veteran entrepreneurs through the PenFed Foundation.

 

Financial Assistance

The Military Heroes Program provides financial assistance to meet the individual and collective needs of our military community.

We provide emergency response to crises. In 2017, we provided emergency financial assistance to victims of hurricanes in Puerto Rico and Texas. In 2020, we were the first VSO to provide COVID-19 relief for veterans and service members affected by the pandemic.

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