Longtime Executive and Supporter of Military
Community Built Foundation for Lasting Success and Contributed to
PenFed's Growth by Hundreds of Thousands of Members and Billions in
Assets
TYSONS, Va., June 17,
2024 /PRNewswire/ -- PenFed Credit Union, the
nation's second-largest federal credit union, today announced the
retirement of Senior Executive Vice President Shashi Vohra following 44 successful years of
service. Business leaders, friends and family celebrated Vohra's
achievements during a retirement party hosted by PenFed.
"Shashi has made an incredible impact and helped to build
PenFed's growth and success for over four decades," said PenFed
Credit Union President/CEO and PenFed Foundation CEO James Schenck. "PenFed is stronger thanks to his
relentless pursuit of lasting partnerships, his strategic
leadership and steadfast focus on always taking perfect care of its
members, employees, the institution's safety & soundness and
giving back to the communities in which PenFed employees live and
work. Shashi has built a lasting legacy of being the ultimate
dealmaker and building lasting partnerships with industry leaders
that have spanned decades."
Vohra first joined PenFed as a junior accountant in 1980 and has
held various positions of increased responsibility including VP
accounting/controller and SVP business development/treasurer,
before retiring as senior EVP/president affiliated businesses. Over
his career Vohra helped PenFed grow from two hundred thousand
members to nearly 3 million members, with assets growing from
$460 million to $36 billion. He was instrumental in overseeing
the integration of over 40 credit union mergers. These mergers
strengthened the credit union industry and helped thousands of
members by providing them with access to world-class service and
market-leading products and rates. PenFed's success allows the
credit union to give back to the military community in significant,
life changing ways.
"One of the proudest moments of my career was when I helped
establish the PenFed Foundation in 2001, volunteering as the
Foundation's first chief financial officer," said Vohra. "I feel
blessed to have been part of raising nearly $55 million for service members, veterans and
their families. A meaningful career is not about dollars and cents;
it's about touching people's lives. That legacy is more important
than anything else I've accomplished in my 44 years at PenFed."
As CEO of PenFed Realty, Vohra launched a first-of-its-kind
program supporting active-duty service members, veterans and
military spouses interested in transitioning to a career in real
estate. The PenFed Realty Real Heroes Program removes financial
barriers by covering the upfront costs to secure a real estate
license up to $2,500 and provides
on-the-job support and coaching to help new agents succeed. Since
its inception in 2020, over 300 agents from the military community
have been hired including over 70 active agents with a three or
more-year tenure. Participating agents achieved over 4,800
settlements with $1.4 billion in
sales volume and over $27.6 million
in commissions earned.
As past President of The PenFed Foundation, a national nonprofit
organization committed to empowering military service members,
veterans and their communities with the skills and resources to
realize financial stability and opportunity, Vohra helped raise
tens of millions of dollars to support the Foundation's programs
through its annual gala and military heroes golf tournament.
Throughout his four plus decades of service at PenFed, Vohra has
served as a tireless advocate for the military community and
supported programs that promote equality and access for service
members of all ranks to achieve their financial dreams.
"Living the PenFed values every single day, working with
resilient leaders and excellent human beings, growing tremendously
as a person and as an executive – and most importantly,
meeting numerous individuals who made a difference and helped me
succeed in my career at PenFed have been the highlights of my last
40 plus years," Vohra said.
About PenFed Credit Union
Established in 1935,
Pentagon Federal Credit Union (PenFed) is America's second-largest
federal credit union, serving 2.9 million members worldwide with
over $34.6 billion in assets. PenFed
Credit Union offers market-leading certificates, checking, credit
cards, personal loans, mortgages, auto loans, and a wide range of
other financial services with members' interests always in mind.
PenFed Credit Union is federally insured by the NCUA and is an
Equal Housing Lender. To learn more about PenFed Credit Union,
visit PenFed.org, like us on Facebook and follow us @PenFed on X.
Interested in working for PenFed? Check us out on LinkedIn. We are
proud to be an Equal Employment Opportunity Employer.
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SOURCE PenFed Credit Union