Board of Directors
James R. Schenck
President and CEO
PenFed Credit Union
James Schenck is President & CEO of PenFed Credit Union, America’s second-largest federal credit union. Since James became CEO in April 2014, PenFed has:
- More than doubled membership from 1.3 million to 2.8 million
- Doubled assets from $17.6 billion to more than $35.2 billion
- Grown the institution’s net worth by more than $1.5 billion
James also serves as CEO of the PenFed Foundation, which has provided more than $42 million in financial support to military service members, veterans, families, and support networks through programs on financial education, homeownership, veteran entrepreneurship, and short-term assistance.
Under James’s leadership, PenFed has earned many awards as an employer and a community leader. Among the most recent accolades:
- Top 50 US employer for veterans and Latinas for 3 consecutive years
- National Military Family Association’s Champion Award for supporting military spouses’ job creation and military children’s education
- Canine Companions for Independence’s Hearts & Heroes Award for raising assistance dogs to transform quality of life for people with disabilities
- Association of the US Army’s John W. Dixon Award for outstanding contributions to the national defense community
- Council for Economic Education’s Visionary Award for teaching consumers financially literacy
- Volunteer Alexandria’s Large Business Philanthropist Award for supporting charitable organizations, outreach, and events throughout northern Virginia
On PenFed’s leadership team since 2001, James led most of PenFed’s operating divisions. From 2011 to 2014, he was President of a wholly owned subsidiary, PenFed Realty. In past years, he ran the credit union’s 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 PenFed.
Extending the credit union philosophy of “People Helping People,” James volunteers for other business groups. He serves on the US Chamber of Commerce and the Northern Virginia Technology Council.
During his military career, James flew Black Hawk helicopters in Korea and trained other US 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 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. James was selected by HillVets as one of the nation’s 100 most influential and impactful veterans.
James is still an avid pilot and recently completed an orientation flight in an F-16 fighter jet. James is always looking for his next adventure.