ALEXANDRIA, Va. — James Schenck will become president and CEO of Pentagon FCU on April 1, succeeding Frank Pollack, who is retiring after leading the credit union for more than more than 13 years.
"PenFed's entire membership and more than 1,300 employees have benefited from Frank's leadership during his 35 years of service and we look forward to James' leadership in the years ahead," said PenFed Board Chairman James Quinn.
Pollack joined PenFed in 1978, rising through the ranks to become CEO in January of 2000. Under his direction, PenFed grew from $3.2 billion in assets to more than $17 billion, lifting membership from 400,000 to over 1.2 million.
As part of the CU's executive leadership team since 2001, Schenck has led most of PenFed's operating divisions. Since 2011, he has been executive vice president at PenFed and president of its wholly owned subsidiary, PenFed Realty. Schenck has also served the credit union in past years as head of credit and collections, chief operating officer, and chief administrative officer. He is also a former president of the PenFed Foundation.
"I am humbled and honored to have been selected to serve PenFed's board of directors and our members; and will lead our dedicated staff in providing the best financial value and services to our members — of which a large preponderance are active duty members or veterans of the Armed Forces and their families," said Schenck.
