Frequently Asked Questions

When and why was PenFed Foundation for Military Heroes founded?

The Foundation was founded in 2001 by leadership of the PenFed Credit Union. The organization was founded as a 501(c)3 shortly after the events of 9/11 to support disabled 9/11 combat veterans and their families.

Why does the PenFed Foundation for Military Heroes focus on post-9/11 veterans?

There are more than 4 million post-9/11 veterans as of 2016 (Department of Veterans Affairs, 2016). According to the VA, a higher percentage of post-9/11 veterans live in poverty, use food stamps and have a service-related disability than veterans in any other era. Additionally, post-9/11 veterans face more obstacles to homeownership and are less likely to own their own home than their civilian counterparts and veterans of any other era (University of Minnesota, 2018).  Military families today say financial stressors are their top concern (Blue Star Families, 2019).

PenFed Foundation’s mission is to empower military service members, veterans and their communities with the skills and resources to realize financial stability and opportunity. Through the Emergency Financial Assistance Program, we help disabled post-9/11 veterans realize financial stability by preventing a short-term financial emergency from turning into a long-term hardship.

Veterans of all eras are welcome to apply to the DAV-Emergency Financial Assistance Program. More details on that program and how to apply are available here:

I am the spouse of a deceased service member; am I eligible for Emergency Financial Assistance?

Our Financial Assistance programs are only open to living veterans and their spouses who are currently residing in the same household.

How much of my donation goes towards the PenFed Foundation’s programs?

Thanks to the generosity of the PenFed Credit Union, which covers most salaries and administrative costs for the Foundation, more than 95% of each donation goes directly to support our programs. To make a donation, click here:!/donation/checkout

Is my donation tax deductible?

PenFed Foundation is a 501(c)3 tax-exempt organization and your donation is tax-deductible within the guidelines of U.S. law. To claim a donation as a deduction on your U.S. taxes, please keep your donation receipt as your official record. We’ll send it to you upon successful completion of your donation.