National Credit Union Administration’s chief of staff to join PenFed

Published April 15, 2016 by Veronica Garabelli

The chief of staff of the National Credit Union Administration (NCUA) will soon join Alexandria-based PenFed Credit Union.

PenFed Credit Union President and CEO James Schenck announced Friday that Steve Bosack will join PenFed as his special adviser, effective May 23.           

Bosack spent nine years at NCUA, which included helping the agency rebuild the National Credit Union Share Insurance Fund covering 103 million members.

Between his two terms at NCUA, Bosack served four years as deputy director of the National Credit Union Foundation in Washington. That role included raising millions of dollars in aid for credit union employees and members who lost their homes to Hurricane Katrina and other natural disasters.

Bosack's communications career began in 1990 with the launch of the Credit Union Times, where he served three years as associate editor, and the next decade as vice president of public relations and information services for the Credit Union National Association.

PenFed has $20 billion in assets and serves 1.4 million members worldwide. On May 1, it plans to merge with Woodbridge-based Belvoir Federal, which has $320 million in assets and more than 26,000 members. Once the merger is complete, the credit unions will conduct business as PenFed.