PenFed Credit Union hosted a ribbon-cutting ceremony for its new financial centre opening soon in Hatillo, and announced the launch of a financial education partnership for high school students in Puerto Rico.
“The best way to help Puerto Rico is by investing and creating jobs,” said James Schenck, President/CEO of PenFed Credit Union and CEO of PenFed Foundation. “After Hurricane Maria hit in September of 2017, we knew we had to do something not only to help those in need of immediate short-term assistance – but also to help contribute to a long-term brighter future for Puerto Rico. As Americans, we must stand together – and PenFed continues to stand with the resilient people of Puerto Rico.”
PenFed remains committed to supporting the restoration of Puerto Rico following the hurricane. The new financial centre will create dozens of jobs and provide the best deposit and loan rates in all of the United States.
PenFed currently serves nearly 200,000 members in Puerto Rico through two branches in San Juan and one in Fort Buchanan. The new financial centre at 801-825 Calle Jardin in Hatillo has the potential to be the largest of all. PenFed has had a presence on the island for 13 years. Puerto Ricans currently have over $400 million in deposits and nearly $200 million in loans with PenFed.
“Following Hurricane Maria, PenFed was the first credit union to step forward and make a commitment to revitalizing the island of Puerto Rico,” said Ray Martinez, President, Financial Education, EVERFI. “I am proud to now call PenFed a partner in our endeavor to bring financial education to students in communities across the island. By providing students with the critical skills and knowledge they need to achieve their most ambitious dreams for their future, PenFed Credit Union’s Tu Dinero, Tu Sueño programme is poised to make a significant impact in the lives of students in disaster-stricken communities and help empower communities across the island.”
The ribbon-cutting event was attended by community leaders including:
Carlos Johnny Mendez, President and Speaker of the Puerto Rico House of Representatives;
- Jose Rodriguez Cruz, Mayor of Hatillo;
- Joel Franqui Atiles, Representative, Puerto Rico House of Representatives District 15;
- Jose Gonzalez Mercado, Representative, Puerto Rico House of Representatives District 14;
- Major General (Retired) Felix Santoni, Civilian Aide to the Secretary of the Army Emeritus.