Penn Mutual History

Penn MutualRecognizing Our Founding Partner: Penn Mutual

On September 11, 2012, The American College of Financial Services and Penn Mutual launched a center of excellence focused on supporting the veteran community. Penn Mutual made a total philanthropic investment of $2.9 million to support the operations of what is now known as The American College Center for Military and Veterans Affairs. Over 1,000 College scholarships were awarded to active-duty military, veterans, and their spouses as they transition to civilian life and career pathways in financial services.

In 2014, the Center established the annual Clambake to honor veteran-scholars, celebrate donors and partners, and, with the Soldier Citizen Award, recognize a leader in the financial services industry who has made a significant contribution to the United States military. The inaugural Soldier-Citizen honoree was Admiral Joseph Prueher, US Navy (Ret.). Other notable honorees included General Ralph “Ed” Eberhart, US Air Force (Ret.), Major General Joe Robles, US Army (Ret.), General Peter Pace, US Marine Corps (Ret.), General David Petraeus, US Army (Ret.), General Jack Keane, US Army (Ret.), and Admiral Tom Fargo, US Navy (Ret.). Over the years, Clambake attendees have been entertained by celebrated artists, such as The Riveters from the USNA and Grammy Award winner and “God Bless the U.S.A.” singer Lee Greenwood.

In July 2022, Penn Mutual made a reinvestment of $3 million in The College to support the mission of the Center. The College is proud to perpetually recognize Penn Mutual as its Founding Partner in support of the veteran community, and is grateful to Penn Mutual for its continued partnership and support of the veterans community as Founding Partner and Sponsor of the Center for Military and Veterans Affairs which launched in October 2022. Through the vision and leadership of Penn Mutual Chairman and CEO, Eileen McDonnell, the volunteer commitment of the Center’s Advisory Board and “Team Clambake,” and the financial support of hundreds of individual, corporate, and foundation donors, the Center for Military and Veterans Affairs made a lasting impact on the lives of our military heroes and their families. Thanks to Penn Mutual, the Center has a deep foundation from which today’s initiatives can soar to greater heights.


About The Penn Mutual Life Insurance Company

Penn Mutual helps people become stronger. Our expertly crafted life insurance is vital to long-term financial health and strengthens people’s ability to enjoy every day. Working with our trusted network of financial professionals, we take the long view, building customized solutions for individuals, their families, and their businesses. Penn Mutual supports its financial professionals with retirement and investment services through its wholly-owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC.

Helping people get stronger is a commitment that’s much larger than our business—it’s a reflection of our values. We’re proud to serve the communities that make a difference where we live and work. To support our nation’s heroes and their families, we contribute to programs that assist in their transition from military to civilian life, while also helping unite communities through local service and leadership projects. To learn more about our commitment in the community, visit