About the Foundation

Supporting our heroes with opportunity and financial support.

Our Story

Our vision is that all service members are able to serve our nation free of financial worry and that every Veteran has a strong financial future.

Founded in 2001, the PenFed Foundation is a national nonprofit organization committed to empowering military service members, Veterans and their communities with the skills and resources to realize financial stability and opportunity. 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. The credit union funds the Foundation’s personnel and most operational costs, demonstrating its strong commitment to the programs the Foundation provides.

The mission of the PenFed Foundation is to provide opportunities and financial support to fill the unmet needs of service members, Veterans, and their families.

Our History


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 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 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 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 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.

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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 Foundation and the U.S. Department of Veterans Affairs.

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The 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 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 Investment Program (VEIP) launches with Foundation contributions and matching funding of up to $1 million from PenFed Credit Union. The program provides Veteran-owned start-ups with seed capital to build and grow their businesses, creates a robust network for Veteran-owned businesses to succeed and enables the PenFed Foundation to perpetually re-invest returns in future Veteran-owned businesses.


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.


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. 

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Want to Make a Difference?

Consider a one-time or monthly gift to help our military heroes.