{"id":48248,"date":"2019-11-01T08:00:27","date_gmt":"2019-11-01T08:00:27","guid":{"rendered":"https:\/\/one.sightlinemg.com\/airforcetimes\/uncategorized\/2019\/11\/01\/thousands-of-service-members-have-come-home-from-combat-heres-why-we-should-back-them-in-business\/"},"modified":"2026-08-08T07:40:47","modified_gmt":"2026-08-08T07:40:47","slug":"thousands-of-service-members-have-come-home-from-combat-heres-why-we-should-back-them-in-business","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/airforcetimes\/opinion\/commentary\/2019\/11\/01\/thousands-of-service-members-have-come-home-from-combat-heres-why-we-should-back-them-in-business\/","title":{"rendered":"Thousands of service members have come home from combat. Here\u2019s why we should back them in business."},"content":{"rendered":"\n

At a time of growing political factionalism and fragmentation, one U.S. institution maintains the trust of the public: our nation\u2019s military. Eight in 10 Americans<\/a> believe the U.S. military works for the public\u2019s best interest.<\/p>\n\n\n\n

However, this trust, while encouraging, is ultimately insufficient. It\u2019s one thing to say we trust the men and women of our armed forces; it\u2019s another to actually put them in positions of trust.<\/p>\n\n\n\n

Each year, thousands of service members<\/a> return home to their families, and many of them transition to civilian life. They bring their leadership skills, work ethic and resilience with them.<\/p>\n\n\n\n

As business leaders \u2014 and as patriots \u2014 we have a duty to invest in these remarkable individuals. U.S. military veterans have experiences and skills that make an enormous positive impact on American businesses. We know because we see it happen at PenFed every day.<\/p>\n\n\n\n

One of the greatest advantages veterans bring to the table is their leadership skills. Thanks to years of intense training for high-stakes situations, veterans know how to react calmly, courageously and effectively under pressure and in times of crisis.<\/p>\n\n\n\n

James lived through this experience firsthand on the day of the Sept. 11 attacks. When smoke from the Pentagon was visible at PenFed\u2019s headquarters 8 miles away, everyone was horrified: PenFed had a branch inside the Pentagon, and no one could reach their friends and colleagues.<\/p>\n\n\n\n

James\u2019 military training as an Army pilot prepared him for the situation. He quickly jumped into action and recruited co-workers to walk 8 miles to the Pentagon to account for all the employees and see how his team could help. With James\u2019 leadership, the branch reopened just one day after the attacks.<\/p>\n\n\n\n

As General Nicholson knows from his career commanding thousands of troops, including the entire U.S. force in Afghanistan, high stress and complexity produces exceptional leaders. These are the brave men and women you want on your side, in business situations both ordinary and extraordinary.<\/p>\n\n\n\n

Charlie Miles, a former Marine<\/a>, plays an important role on our HR team at PenFed. Charlie scouts out the best and the brightest in the military community. He attracts service members, veterans and military spouses to work across the credit union. Thanks to his keen eye for talent and remarkable people skills \u2014 honed by his many years of work as a Marine officer \u2014 we\u2019ve dramatically escalated our military hiring and received recognitions and designations as a top military employer.<\/p>\n\n\n\n

Veterans\u2019 skills and creativity also translate remarkably well to entrepreneurship. In fact, veteran entrepreneurs tend to out-earn non-veteran entrepreneurs. Yet oftentimes, they lack support from investors who could take their startup off the ground. In 2017, for example, 42 percent of veteran-owned businesses applied for financing \u2014 but 47 percent had to apply three or more times. Less than half got the backing they need.<\/p>\n\n\n\n

This funding gap is why we\u2019re strategically investing in veteran entrepreneurs through our Veteran Entrepreneur Investment Program (VEIP)<\/a>. Abe Kamarck, a former U.S. naval aviator, funded a new sales team <\/a>and increased production at True Made Foods<\/a> \u2014 his self-owned startup that makes healthy, vegetable-based condiments like ketchup and sriracha. Now his products are in hundreds of stores across the country, including major grocery chains.<\/p>\n\n\n\n

What\u2019s more, investing in veteran businesses like True Made Foods has benefits beyond these entrepreneurs\u2019 families and their communities. These innovators pay it forward: Veterans are 30 times more likely to hire other veterans, creating a cycle of support and employment.<\/p>\n\n\n\n

Whenever American lives are attacked, we need our military service members. Now, they need us. Let\u2019s remember those who heard the call of their country and responded. And let\u2019s respond to their call for support as businessmen and businesswomen as they transition to civilian life.<\/p>\n\n\n\n

James R. Schenck is president and CEO of PenFed Credit Union and CEO of the PenFed Foundation. Retired Gen. John W. Nicholson Jr. is a former four-star general in the U.S. Army and president of PenFed Foundation. <\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s one thing to say we trust the men and women of our armed forces; it\u2019s another to actually put them in positions of trust, say the authors of this commentary.<\/p>\n","protected":false},"author":7,"featured_media":37603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_canonical":"","_acf":"","_yoast_wpseo_primary_category":75,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_smg_distribution_targets":[]},"categories":[75,101,26,18],"tags":[],"coauthors":[6256],"class_list":["post-48248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commentary","category-daily-news-roundup","category-newsletters","category-opinion"],"acf":{"subheadline":"","legacy_arc_id":"OBDLSKB6OREBNPZBVFNJD4MFTA","arc_canonical_url":"\/opinion\/commentary\/2019\/11\/01\/thousands-of-service-members-have-come-home-from-combat-heres-why-we-should-back-them-in-business\/","remove_feature_photo":false,"is_sponsored":false,"subtype":"","redirect_url":"","disable_inline_ads":false,"native_logo_pretext":"Presented By:"},"yoast_head":"\nThousands of service members have come home from combat. 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