James Schenck | BOARD MEMBER
James Schenck is President and CEO of PenFed Credit Union, headquartered in Tysons, Virginia. PenFed Credit Union is America’s second-largest federal credit union, serving 1.8 million members worldwide with over $25 billion in assets. PenFed offers high-yield online savings accounts and market-leading certificates, checking, mortgages, auto loans, credit cards, student loans, personal loans, and a wide range of other financial services to the national defense community and all who support them.
Since becoming CEO in April of 2014, James has led PenFed’s asset growth from $17 billion to over $25 billion, increased membership from 1.3 million to over 1.8 million, and generated $856 million in net worth -- a 45% increase over the previous 5 years. In a nationwide vote conducted by Credit Union Magazine in 2017, James was elected the National Credit Union Hero of the Year. And in 2018, James was recognized for his leadership in earning the Large Business Philanthropist of the Year Award for greater Alexandria, Virginia.
James also serves as CEO for the PenFed Foundation in Alexandria, which has raised over $35 million to help military veterans heal their wounds, pay their bills, own their first homes, and start their own businesses.
As part of PenFed’s leadership team since 2001, James led most of PenFed’s operating divisions. From 2011 to 2014, he was Executive Vice President at PenFed and President of its wholly owned subsidiary, PenFed Realty. In past years, he ran the credit union’s daily operations as COO and Chief Administrative Officer. James began his credit union career in 1999 as a volunteer, serving on the Board of Directors of West Point Federal Credit Union and Pentagon Federal Credit Union.
James volunteers for many other charities and business groups. He serves on the boards of the US Chamber of Commerce, the National Symphony Orchestra, Armed Services Arts Partnership, Northern Virginia Technology Council, Greater Washington Hispanic Chamber of Commerce, and Carriage Services (NYSE: CSV). He also served as Co-Chairman of the International Red Cross’ Salute to Military Gala.
During his military career, James flew Black Hawk helicopters in Korea and trained other Army aviators as a night vision goggle instructor pilot. He served on the Army Staff in the Office of the Deputy Chief of Staff for Operations and Plans, and was later selected to serve as a Special Assistant to the Secretary of the Army. He received the Legion of Merit for his contribution to the Army by overseeing the creation of the $453 million Army University Access Online educational initiative.
Prior to his assignment to the Pentagon, James taught Economics and Finance at the United States Military Academy. James is a graduate of the Harvard Business School and West Point. In 2015, James was selected by HillVets as one of the 100 most influential and impactful veterans in the United States. James is an avid pilot and loves adventure.