The Pentagon Federal Credit Union Foundation (PenFed Foundation)
Encyclopedia
The Pentagon Federal Credit Union Foundation (PenFed Foundation) is a nonprofit national charity
working to meet unmet needs of the military
personnel and their families in the areas of financial literacy
, housing
and support for the wounded.
unmet needs of military personnel and their families through supporting wounded soldiers,
providing financial management assistance and home ownership aid. The foundation is also the
primary sponsor of the new $12.5 million Defenders Lodge supported by donated land from the
government and financed entirely through private donations.
Thousands of veterans travel from all over the West Coast and Pacific Rim to the VA Palo Alto Hospital (part of the VA Palo Alto Health Care System
) for treatment, and the new Defenders Lodge will provide a free and comfortable place for them to stay.
Last year nearly 11,000 patients had to find temporary housing and many had to drive 50 miles to find an affordable hotel while they waited for treatment—the new Defenders Lodge will solve this problem.
The Pentagon Federal Credit Union
covers all labor expenses for the foundation so every dollar donated goes directly to supporting its programs.
The organization is dedicated to assist the men and women and their immediate families in the Department of Defense and Homeland Security
. This includes both uniform and non-uniform personnel. The organization's Military Heroes program provides support to those wounded in the war
against terrorism
. Given the large numbers of wounded and the long-term nature of their challenges, the government
faces budget and logistical problems in meeting their needs.
Military personnel and their families face financial stress due to relatively low pay, extended deployments and combat injuries. Payday lenders target those in the military
because they have regular paychecks and must pay their bills or risk losing their security clearances. The PenFed Foundation's Asset Recovery Kit (ARK) gives no-interest emergency cash loans and free professional counseling to help solve money problems.
Military families deserve their piece of the American dream. They often cannot purchase a home – the cornerstone of this dream – because of the high cost of housing
. The organization's Dream Makers is a grant program which assists first-time home buyers of modest means who are in the service of our country’s national security
.
Charitable organization
A charitable organization is a type of non-profit organization . It differs from other types of NPOs in that it centers on philanthropic goals A charitable organization is a type of non-profit organization (NPO). It differs from other types of NPOs in that it centers on philanthropic goals A...
working to meet unmet needs of the military
Military
A military is an organization authorized by its greater society to use lethal force, usually including use of weapons, in defending its country by combating actual or perceived threats. The military may have additional functions of use to its greater society, such as advancing a political agenda e.g...
personnel and their families in the areas of financial literacy
Financial literacy
Financial literacy is the ability to understand finance. More specifically, it refers to the set of skills and knowledge that allows an individual to make informed and effective decisions through their understanding of finances...
, housing
House
A house is a building or structure that has the ability to be occupied for dwelling by human beings or other creatures. The term house includes many kinds of different dwellings ranging from rudimentary huts of nomadic tribes to free standing individual structures...
and support for the wounded.
Overview
The PenFed Foundation is a nationally recognized nonprofit organization working to meet theunmet needs of military personnel and their families through supporting wounded soldiers,
providing financial management assistance and home ownership aid. The foundation is also the
primary sponsor of the new $12.5 million Defenders Lodge supported by donated land from the
government and financed entirely through private donations.
Thousands of veterans travel from all over the West Coast and Pacific Rim to the VA Palo Alto Hospital (part of the VA Palo Alto Health Care System
VA Palo Alto Health Care System
The VA Palo Alto Health Care System is a United States Department of Veterans Affairs health care group located in California which consists of three inpatient facilities in Palo Alto, Menlo Park, and Livermore, plus seven outpatient clinics in San Jose, Capitola, Monterey, Stockton, Modesto,...
) for treatment, and the new Defenders Lodge will provide a free and comfortable place for them to stay.
Last year nearly 11,000 patients had to find temporary housing and many had to drive 50 miles to find an affordable hotel while they waited for treatment—the new Defenders Lodge will solve this problem.
The Pentagon Federal Credit Union
Pentagon Federal Credit Union
Pentagon Federal Credit Union is a federal credit union headquartered in Alexandria, Virginia, chartered and regulated under the authority of the National Credit Union Administration...
covers all labor expenses for the foundation so every dollar donated goes directly to supporting its programs.
The organization is dedicated to assist the men and women and their immediate families in the Department of Defense and Homeland Security
Homeland security
Homeland security is an umbrella term for security efforts to protect states against terrorist activity. Specifically, is a concerted national effort to prevent terrorist attacks within the U.S., reduce America’s vulnerability to terrorism, and minimize the damage and recover from attacks that do...
. This includes both uniform and non-uniform personnel. The organization's Military Heroes program provides support to those wounded in the war
War
War is a state of organized, armed, and often prolonged conflict carried on between states, nations, or other parties typified by extreme aggression, social disruption, and usually high mortality. War should be understood as an actual, intentional and widespread armed conflict between political...
against terrorism
Terrorism
Terrorism is the systematic use of terror, especially as a means of coercion. In the international community, however, terrorism has no universally agreed, legally binding, criminal law definition...
. Given the large numbers of wounded and the long-term nature of their challenges, the government
Government
Government refers to the legislators, administrators, and arbitrators in the administrative bureaucracy who control a state at a given time, and to the system of government by which they are organized...
faces budget and logistical problems in meeting their needs.
Military personnel and their families face financial stress due to relatively low pay, extended deployments and combat injuries. Payday lenders target those in the military
Military
A military is an organization authorized by its greater society to use lethal force, usually including use of weapons, in defending its country by combating actual or perceived threats. The military may have additional functions of use to its greater society, such as advancing a political agenda e.g...
because they have regular paychecks and must pay their bills or risk losing their security clearances. The PenFed Foundation's Asset Recovery Kit (ARK) gives no-interest emergency cash loans and free professional counseling to help solve money problems.
Military families deserve their piece of the American dream. They often cannot purchase a home – the cornerstone of this dream – because of the high cost of housing
House
A house is a building or structure that has the ability to be occupied for dwelling by human beings or other creatures. The term house includes many kinds of different dwellings ranging from rudimentary huts of nomadic tribes to free standing individual structures...
. The organization's Dream Makers is a grant program which assists first-time home buyers of modest means who are in the service of our country’s national security
Security
Security is the degree of protection against danger, damage, loss, and crime. Security as a form of protection are structures and processes that provide or improve security as a condition. The Institute for Security and Open Methodologies in the OSSTMM 3 defines security as "a form of protection...
.