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About Virginia529

Board Members


Ricardo Chamorro

Ricardo Chamorro joined PenFed Credit Union in 2014 and leads PenFed’s consumer banking and corporate strategy.  PenFed is the second largest federal credit union in the country with over $35 billion in assets and 2.9 million members.

Mr. Chamorro is responsible for consumer banking products and services, which include retail deposits, payments, and consumer loans. He also oversees PenFed’s marketing and consumer banking technology teams, both focused on improving PenFed’s “go to market” strategy and ongoing digital transformation efforts.

He is responsible for assisting PenFed’s CEO with understanding the competitive landscape to develop, communicate, execute, and sustain strategic initiatives. Ricardo works closely with the rest of the PenFed executive team to develop long-range strategic plans and objectives through the identification of strategic issues and opportunities that could influence business growth and profitability.

Mr. Chamorro has nearly 20 years of experience in financial services. Prior to joining PenFed, he was a managing director for Dollar Financial Group in Madrid, Spain, and London, U.K. where he built and acquired over 60 growing retail locations across Europe focused on secured lending, unsecured single and multi-payment lending, money movement, retail sales (retail and online), and other ancillary products.

Mr. Chamorro also has served in roles related to mergers, acquisitions and strategy, as well as consumer products and retail with UBS Investment Bank and Lazard Investment Bank in New York. He has been responsible for assessing and executing strategic and financial opportunities for clients, including leveraged buyouts, divestitures, acquisitions, leverage recapitalizations, and other debt and equity strategies.

Mr. Chamorro spent five years in active duty as a Military Intelligence Officer in the U.S. Army. He is the recipient of the Bronze Star Medal. He graduated from the US Military Academy at West Point and has an MBA in finance and strategy from Harvard Business School.

Upcoming Board Meetings


The Access Advisory Committee of the Board of the Virginia College Savings Plan (Virginia529)

9001 Arboretum Parkway
North Chesterfield , Virginia 23236

All meetings held in the Board Room at the Virginia529 office at 9001 Arboretum Parkway, North Chesterfield, VA 23236 unless otherwise noted.

Public comment accepted during the first ten minutes of each meeting.

A copy of the proposed agenda and all agenda packets furnished to committee members can be obtained, unless exempt, by sending a request for those materials to 

Virginia529 shall not change the method by which it conducts this meeting unless a new meeting notice is provided in accordance with the provisions of Virginia Code §2.2-3707.

More about Virginia529

About Virginia529

Get to know the history, mission, and savings programs of Virginia529.


Virginia529 is always on the lookout for talented individuals to join our growing team.


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