James Schenck, president and CEO of PenFed Credit Union, has been elected to the Board of Directors of the U.S. Chamber of Commerce for a two-year term running through Nov. 2019.
“We are thrilled to have James join our Board of Directors,” Thomas J. Donohue, U.S. COC president and CEO, said in a press release. “Credit unions serve a unique and valuable role in our communities and economies and he will be a strong voice for the more than 100 million people that they serve. James has also proven to be an exceptional advocate for protecting the interests of our nation’s defenders, and we look forward to his help in promoting the economic interests of active-duty military service members and veterans.”
Schneck joined PenFed in 2001 and has served as its president and CEO since April 2014. Under his leadership, PenFed’s assets have grown from $17.6 billion to $23.5 billion, annual net income has increased from $116 million to $169 million, and membership has grown from 1.3 million to 1.6 million.
Schenck also serves on the boards of Carriage Services, Lasermax Defense, the Northern Virginia Chamber of Commerce and the Northern Virginia Technology Council.
A graduate of West Point and Harvard Business School, Schenck flew Blackhawk helicopters in Korea. While in the military, Schenck 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. He remains an active advocate on behalf of military and veterans’ issues nationwide.
“The U.S. Chamber of Commerce is our nation’s strongest advocate for a pro-business agenda,” Schenck said in the release. “I am proud to serve on this esteemed Board of Directors and do my part to represent America’s credit unions and our nation’s veterans who are transitioning back into the civilian workforce. Together, along with the U.S. Chamber of Commerce Foundation, we will promote the Hiring Our Heroes initiative and other policies that create jobs and strengthen our economy.”