Contact: Jenna Weisbord, 310-995-0839
Owners Nation’s second-largest federal credit union supports veteran franchise owners and their communities through $25,000 sponsorship
WASHINGTON, Feb. 22nd— The International Franchise Association Foundation today announced a new sponsorship agreement with PenFed Credit Union, the nation’s second-largest federal credit union, in support of VetFran. PenFed’s $25,000 commitment supports VetFran’s efforts to increase its reach nationwide during an events tour that will bring veteran franchise owners together with veterans in their communities and engage them through the sharing of their experiences in franchising.
“We are proud to support VetFran and their commitment to the 250,000 veterans transitioning from the military each year,” said James Schenck, President/CEO, PenFed Credit Union and CEO, PenFed Foundation. “Over 20% of veterans start their own businesses. Veteran entrepreneurs successfully provide important services and create jobs. Veterans already possess a critical skill for successful entrepreneurship: grit. Through their military training, tested leadership and varied professional skillsets, veterans are often uniquely suited to industries outside the military.”
PenFed has a long history of serving the military and defense communities and created PenFed Foundation, a national nonprofit organization committed to helping members of the military community secure their financial future. PenFed Foundation has provided more than $30 million in financial support to the military community since its founding in 2001.
PenFed Foundation launched the Veteran Entrepreneur Investment Program (VEIP) last year and helps veteran-owned businesses succeed by providing the seed money to get started and a support network of over 1,700 business partners.
“A partnership with PenFed will allow VetFran to drastically increase its efforts to reach veterans across this country. VetFran’s new initiatives depend on strong national partners, and PenFed brings years of experience to the table. Their passion for serving veterans is mirrored by our own, and we’re incredibly excited to bring them on board,” said Jeff Bevis, CFE, Chair of VetFran Committee.
In addition to helping VetFran with funding this national campaign of veteran-led events and speaking engagements, PenFed has also pledged to support veterans in their dreams of owning a franchise through PenFed Foundation programs. PenFed’s experience serving the military community makes them a strategic partner in the franchise business space.
In addition, PenFed is bringing more staff to the VetFran team, sponsoring a PenFed Fellow to work within VetFran to bring these plans to fruition.
Celebrating 56 years of excellence, education and advocacy, the International Franchise Association is the world's oldest and largest organization representing franchising worldwide. IFA works through its government relations and public policy, media relations and educational programs to protect, enhance and promote franchising and the more than 733,000 franchise establishments that support nearly 7.6 million direct jobs, $674.3 billion of economic output for the U.S. economy and 2.5 percent of the Gross Domestic Product (GDP). IFA members include franchise companies in over 300 different business format categories, individual franchisees, and companies that support the industry in marketing, law, technology and business development.
The IFA Foundation serves as the leading and trusted voice to both cultivate and shine a light on the unique value that the franchise business model offers the world. Its mission is to build a sustainable future by amplifying the best of what is and what will be in franchising. IFA Foundation programs include the Institute for Certified Franchise Executives, which administers the Certified Franchise Executive program; VetFran, which focuses on franchise opportunities for military veterans; NextGen, a program designed to increase franchising opportunities and awareness in young people; Franchising Gives Back, which helps franchise businesses highlight their community service and involvement; and the Diversity Institute, which works to grow economic opportunity for a diverse array of franchise owners and employees.
Established in 1935, Pentagon Federal Credit Union (PenFed) is America’s second-largest federal credit union, serving 1.8 million members worldwide with $25 billion in assets. Our mission is to help members reach their financial potential. PenFed Credit Union offers market-leading certificates, checking, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services with members’ interests always in mind. 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.