Following the organization’s 14th Annual Night of Heroes Gala, the PenFed Foundation recently announced that the event raised more than $2.5 million for programs to help veterans, active military members and their families secure their financial future. PenFed Credit Union covers all expenses for the foundation, according to a company press release.
That total includes $1.5 million from participants at last night’s gala, one honoree’s surprise donation of $500,000, and a matching donation of $500,000. Allied Solutions CEO Pete Hilger and his wife Debbie announced the surprise donation on behalf of Allied Solutions as they were honored with the Corporate Hero Award. PenFed Credit Union announced it would match this donation with an additional $500,000 for a combined donation of $1 million to the PenFed Foundation’s newly launched Veteran Entrepreneur Investment Program (VEIP).
Featured onstage were sports legends, generous philanthropists, canine companions and a wounded warrior who has overcome two amputations and now helps other veterans in their recoveries. The evening showcased many ways the PenFed Foundation helps military members and their families find independence physically, emotionally and financially.
The PenFed Foundation also announced the first investment of proceeds from the gala: three grants totaling $150,000 for three organizations that train service dogs for veterans: the Animal Rescue Foundation, Canine Companions for Independence and Leashes of Valor.
“Right now, there are tens of thousands of men and women who have volunteered to serve our nation to protect the freedoms that make America the greatest country the world has ever known,” PenFed Credit Union President and CEO James Schenck said in the release. “Every year, we honor outstanding Americans who have come forward to help our nation’s defenders. Tonight’s roster of honorees continues to shine the light on the generosity and patriotism of some very special heroes.”
“Since it was started 17 years ago, the PenFed Foundation has provided more than $30 million of financial support to veterans, active duty military members and their families,” added Bruce Kasold, Acting President and COO of the PenFed Foundation. “The PenFed Foundation helps military heroes and their families purchase a first home, weather financial setbacks, build credit, and avoid predatory lenders.”
During the evening event, awards were presented to several honorees in recognition of their contributions to members of the U.S. armed forces and their families. Tony La Russa, National Baseball Hall of Famer and co-founder of Animal Rescue Foundation (ARF) and its flagship program Pets and Vets, received the Community Honoree award for his service to military families by providing service dogs to veterans. Since 2011, the Pets and Vets program has trained over 600 rescue dogs to provide emotional support to veterans readjusting to civilian life.
“There is nothing small you can do for veterans – the smallest thing you think you’re doing is more than they expect,” La Russa said. “I’ve been a part of a lot of teams. Tonight the MVP is PenFed.”
Pete and Debbie Hilger received the Corporate Hero Award for their extraordinary contributions to the PenFed Foundation. Allied and its employees have donated and helped to raise more than $3.5 million for the PenFed Foundation to date.
“Allied Solutions has been proud to support the PenFed Foundation since we attended the very first Night of Heroes Gala in 2005,” Pete Hilger said. “Since then, we have seen the impact this wonderful organization has had improving the lives of thousands of veterans, their families and caregivers. Through its new Veteran Entrepreneur Investment Program, the PenFed Foundation will provide the funds veterans need to start their own businesses and the network of support to succeed. We can’t think of a better way to expand our support of our nation’s defenders than through this program.”
U.S. Army Master Sgt. (Ret.) Cedric King was recognized as the Military Honoree for his distinguished service in Operation Enduring Freedom and his efforts to inspire other veterans after returning home as a double amputee.