News Release 1/16/14

The Pentagon Federal Credit Union Foundation (PenFed Foundation), a nationally recognized nonprofit organization working to meet the unmet financial needs of military members and their families, announced it helped more than 200 military families across 39 states last year buy their first home through its Dream Makers program by providing $1 million in grants to cover down payments and closing costs.

“Many families struggle to buy their first home, but for military families it can be even harder,” says Christopher Flynn, president and CEO of the PenFed Foundation. “From frequent moves around the country and overseas to trouble saving money for a down payment, members of our armed services often have to postpone this important milestone. Our Dream Makers program helps bridge that gap.”

The Military Officers Association of America (MOAA) and its subsidiary Voices for America’s Troops are proud to support the work of the PenFed Foundation. Pentagon Federal Credit Union (PenFed) covers all labor expenses for the PenFed Foundation, so nearly every dollar donated goes directly to supporting its programs.

“Over the years PenFed has provided our members top-notch financial products, and our shared goal of championing America’s servicemembers makes PenFed an ideal partner for us,” says MOAA President Vice Adm Norb Ryan. “It’s encouraging to see evidence of our shared mission in action.”

MOAA has maintained a relationship with PenFed since 2008, and MOAA and Voices members are eligible for PenFed’s award-winning products, low rates on credit cards, bank deposits programs, auto loans, and mortgages.