PenFed Credit Union Promotes Shree Reddy to Chief Information Officer, Executive Vice President

Successful Leader Brings Decades of Experience to PenFed’s Leadership Team

TYSONS, Va., July 1, 2024 /PRNewswire/ — PenFed Credit Union, the nation’s second largest federal credit union, is pleased to announce of promotion of Shree Reddy to Chief Information Officer and Executive Vice President. Reddy joins the executive management team and is responsible for technology infrastructure and operations, application delivery and technology risk.

“It again gives me great pleasure to promote from within PenFed to best support our mission and serve our nearly 3 million members,” said PenFed President and CEO James Schenck. “Shree brings a wealth of experience in technology and will have a positive impact at all levels of our firm.”

Shree joined PenFed in 2017 and previously served as SVP, Head of Consumer Banking Technology demonstrating a wealth of transformative leadership experience in the finance and technology sectors. He led the successful launch of PenFed’s Digital Banking Platform including PenFed online, PenFed’s new mobile app and several strategic enterprise transformative programs across a wide range of banking products. Shree will replace Joseph Thomas who is retiring from PenFed after nearly a decade of serving PenFed through a significant period of growth and technology advancements.

“I am extremely happy and excited for both PenFed and Shree,” said Thomas. “Shree has a unique blend of business and technology experience and is a role model for PenFed’s culture. His intimate knowledge of PenFed will allow a seamless transition, he is the ideal choice to lead PenFed through the next phase of transformation.”

“The transformation of PenFed’s digital and mobile platforms under Shree’s leadership has had an incredibly positive impact on member experience,” said PenFed EVP Consumer Banking Ricardo Chamorro. “He has the business and technology expertise to continue leading PenFed forward.”

Shree’s extensive career in financial services includes 20 years at Bank of America, where he held various leadership roles in consumer banking technology, core banking transformation and mergers.

“I’m thrilled to join PenFed’s executive team and continue supporting our mission, members, and employees,” said Reddy. “I believe that in the relentless race of digital transformation, there is no finish line – only unchartered territories waiting to be conquered. To emerge victorious, one must find disruption before it finds them.”

Shree is a certified Six-Sigma Green Belt and Black Belt professional with a disciplined approach to innovation, execution, problem-solving and process optimization. He earned a bachelor’s degree in electronics and computer science, an MBA in Global Business and an Executive Leadership Program on Operations Development.

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.