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.
SOURCE PenFed Credit Union
