Who Our Programs Help
The PenFed Foundation changes lives through financial education, home ownership, short-term assistance and veteran entrepreneurial support.
Your Donations Help Our Military Heroes
The mission of the PenFed Foundation is to provide service members, Veterans, their families and support networks with the skills and resources they need to build a strong financial future. We change lives through financial education, home ownership, short-term assistance and veteran entrepreneurial support.
More than 95% of funds raised go directly to support the Foundation’s programs. The PenFed Credit Union covers our salaries and administrative costs.
Owning a home is widely recognized as a key marker of financial stability, but post-9/11 Veterans like Jermaine are less likely than their peers to be able to afford their housing costs. When Jermaine retired from the Navy as a Chief Petty Officer in 2017, he was determined to make his childhood dream of owning a home a reality. When he found his dream home in 2019, he kept falling short of the funds he needed. He was able to get help from the PenFed Foundation, which provided a 2-to-1 matching payment for his closing costs through the Dream Makers program.
Lee & Penny Anderson Defenders Lodge
The PenFed Foundation raised $11 million to build the Lee & Penny Anderson Defenders Lodge - a $17 million public-private partnership with the Department of Veteran's Affairs that provides home and respite to veterans and their families undergoing outpatient treatment at the Palo Alto, California VA Medical Center.
Since 2014, the Defender's Lodge has provided 128,000 nights stay to our Veterans, saving them more than $38.5 million on lodging expenses.
Former U.S. Army service member Kerby Stracco's husband suffered severe injuries while serving in Kuwait. Kerby must take her husband to doctor’s appointments, and needed help with childcare. The PenFed Foundation helped cover the costs for her three young children through the Military Heroes Family and Caregivers grants.
We provide child care assistance to families who are experiencing financial strain in their lives as they cope with circumstances surrounding the challenges involved in caring for a wounded warrior.