PenFed Credit Union’s Transportation Storefront Opens at
Montgomery County Junior Achievement Finance Park®
PenFed sponsors the design and build of a
storefront that provides students with hands-on personal finance education
TYSONS Va., Oct. 22, 2018 – PenFed
Credit Union, the nation’s second largest federal credit union, today announced
the opening of its transportation storefront at the Montgomery County Junior
Achievement Finance Park® located in Thomas Edison High
School of Technology. The storefront is part of an innovative and dynamic
ecosystem where students experience real-life situations and make financial
decisions.
“PenFed is committed to the next generation and helping today’s youth prepare
for a sound financial future,” said James Schenck, President/CEO of PenFed
Credit Union.
The PenFed transportation storefront will serve 12,000 Montgomery County Public
School seventh graders annually. Students will learn about budgeting for and
financing a vehicle while visiting the storefront.
“The pathways that lead to adulthood and earned independence have many
milestones, and for many individuals, nothing compares to the first time you
sit behind the wheel of your first car. It is the epitome of independence,”
said Schenck.
“Therefore, I cannot think of a better way to provide students with a real
world, financial learning experience in a safe, educational environment that
will benefit them for their entire adult lives.”
PenFed sponsored the design and build of the storefront that is part of the
25,000-square-foot experiential financial literacy supercenter located on the
campus of Thomas Edison High School of Technology in Silver Spring, Maryland.
PenFed also sponsors a storefront in the Fairfax County Junior Achievement
Finance Park.
"Financial literacy is critical to the long-term well-being of our region
and nation," said Ed Grenier, President and CEO, Junior Achievement of
Greater Washington. "We greatly appreciate PenFed’s investment in helping
our young people learn how to budget and start financially healthy habits as
they become income-earning members of the community.”
It was a visit in 2015 to the Junior Achievement Finance Park in Landover,
Maryland that first inspired Schenck and members of the PenFed team. Since that
initial visit, Schenck chaired the Washington Business Hall of Fame Committee
and its $1.3 million gala fundraising effort to benefit Junior Achievement of
Greater Washington. Additionally, PenFed has been a very active sponsor and
supporter of Junior Achievement of Greater Washington.
Junior Achievement is the world’s largest organization dedicated to educating
students in grades K-12 about financial literacy, work readiness, and
entrepreneurship, reaching more than eight million students in 100 countries
worldwide.
Before students travel to Junior Achievement Finance Park, they take part in
Junior Achievement’s unique 14-lesson classroom curriculum taught by their
teacher. This knowledge serves as a foundation in personal finance education
and gives them the skills they need to experience their time at the financial
park. A student’s experience culminates at Junior Achievement Finance Park,
where they have the opportunity to put their newly learned skills to the test
through practical application in a digital and innovative learning environment.
About PenFed Credit Union
Established in 1935 as the War Department Credit Union, Pentagon Federal Credit
Union (PenFed) is America’s second-largest federal credit
union, serving 1.7 million members worldwide with over $24 billion
in assets. Our mission is to help members reach their financial potential.
PenFed Credit Union offers market-leading mortgages, automobile loans, credit
cards, student loans, checking, certificates, and a wide range of other
financial services with members’ interests always in mind. We have a proud
history of serving those in the Armed Forces, Department of Defense, Department
of Homeland Security, Military Associations, eligible veterans and retirees,
and their families. You may also qualify through membership in select
organizations within our field of membership. PenFed Credit Union is federally
insured by the NCUA and is an Equal Housing Lender. To learn more about
PenFed Credit Union, visit PenFed.org, like us on Facebook and follow us @PenFed on Twitter. Interested in working for PenFed?
Check us out on LinkedIn. We are proud to be an Equal
Employment Opportunity Employer.
About Junior Achievement of Greater Washington
Since 1965, Junior Achievement of Greater
Washington has inspired the next generation to be financially capable and
tenacious, equipped with the tools to solve problems creatively, manage risk
effectively, and welcome opportunity. Through experiential financial literacy,
work readiness, and entrepreneurship K-12 programs and capstone experiences
taught by volunteer role models from the community, they inspire the next
generation to answer the demands of the 21st century economy with “I can.”
During the 2017-2018 school year alone, Junior Achievement of Greater
Washington delivered its programs to almost 70,000 K-12 students throughout the
region. In the last 50 years, Junior Achievement of Greater Washington has
impacted the lives of more than 1,000,000 young people in the District,
Maryland and Virginia.