About the Foundation

The Pentagon Federal Credit Union Foundation was created by Pentagon Federal Credit Union to assist military personnel in securing a sound financial future for themselves and their families.

The PenFed Foundation received a 501(c)3 designation from the Internal Revenue Service. Work continued on building programs and securing funds to move forward with the mission of serving our nation’s defenders.

The Military Heroes® program began when The PenFed Foundation partnered with the George Washington Chapter of the Association of the US Army to provide clothing, phone cards, gift certificates and personal items to the wounded returning from Iraq and Afghanistan who were being treated at Walter Reed National Military Medical Center.

The Military Heroes Fund began paying for child care expenses for children of the wounded being treated at Walter Reed National Military Medical Center.

The PenFed Foundation raised over $200,000 to help victims of Hurricanes Katrina and Rita in the Gulf states, donating these funds to Coast Guard Mutual Aid, Air Force Aid Society and the relocated Veterans from the Armed Forces Retirement Home.

The PenFed Foundation began its partnership with the George Washington Chapter of AUSA to hold a Christmas party at the Mologne House at Walter Reed, a residential hotel for wounded patients and their families.

The first Dream Makers down payment grant of $5,000 was awarded to a soldier stationed at Fort Hood. She used the grant toward her purchase of a duplex in Killeen, Texas so her husband and son would be secure when she deployed to Iraq. 2007 ended with a total of $114,500 in down payment grants disbursed.

Asset Recovery Kit (ARK) provided over 900 interest-free loans totaling over $400,000 to service members. These loans prevented nearly $1 million in fees and interest from being paid to predatory loan services which target military personnel.

The 7th annual Night of Heroes Gala and the Military Heroes Golf Classic, held at the Robert Trent Jones Golf Club in Manassas, Virginia, raised over $1 million, breaking records for the most money raised during these events.

Watch Video

The Lee and Penny Anderson Defenders Lodge opens in May. The facility provides home and respite to Veterans and their families undergoing outpatient treatment at the Palo Alto, California, VA Medical Center. The lodge is a $17 million public-private partnership between The PenFed Foundation and the U.S. Department of Veterans Affairs.

Watch Video

The PenFed Foundation teams up with the Disabled American Veterans (DAV) to expand the Military Heroes Fund Emergency Assistance Program to include all Veterans. Additionally, the foundation entered into a partnership with the Department of Veterans Affairs to help meet the need of homeless Veterans as they find a place to live.

The PenFed Foundation begins accepting applications and providing more than 1,250 grants for emergency hurricane relief for Veterans and Veterans Affairs employees in need of assistance from Hurricanes Harvey, Irma and Maria.

The Veteran Entrepreneur Program launched and propelled veteran-led companies to new heights. With a focus on companies with high-growth potential, we support veteran entrepreneurs from the idea stage to Series A and beyond, all free of charge.

In March 2020, The PenFed Foundation became the first Veteran service organization (VSO) to launch a COVID-19 emergency relief program for military and Veterans.
The program helped more than 1,117 Veterans and service members.

The PenFed Foundation launched the Afghan Rescue and Resettlement Program to support Veterans and Afghan families who are resettling in the United States post-Afghanistan withdrawal. 

Watch Video

The PenFed Foundation distributed $1.4 million in grants. $500,000 went to the Military Women’s Memorial; $333,255.95 went to projects supporting family stability; $186,500 went to lodging; $67,000 went to resiliency programs; $60,000 supported food insecurity; $50,000 went to home repairs; and $50,000 went to suicide prevention.