Episode 152: Interview with Captain Carter Herman of PenAir Credit Union

What happens when a military officer brings battlefield discipline into the world of personal finance? You get someone like Captain Carter Herman—a Florida Army National Guard officer and Senior Financial Analyst at PenAir Credit Union—who’s on a mission to empower students, soldiers, and everyday people with practical tools for financial success.

Carter’s financial journey is both professional and deeply personal. Growing up in a household where money was tight, he learned early on that financial stress can have lasting consequences. “Income isn’t always the problem,” Carter explains. “It’s often a spending issue. I saw the pressure it put on my family, and I’ve made it my mission to help others avoid those same pitfalls.”

That mission has taken him from active service in the Florida Army National Guard to classrooms and campuses across Florida, where he teaches financial literacy to students at Pensacola State College and the University of West Florida. His workshops, often part of student orientations or financial boot camps, combine foundational knowledge with relatable stories. One of those stories? A student-athlete who gave up her daily Starbucks run after learning about opportunity cost. “I wish someone had told me that when I got my first scholarship,” Carter laughs. “I spent it on a truck radio—and struggled at the end of the semester.”

At PenAir Credit Union, Carter now serves as a Senior Financial Analyst, helping the nearly 90-year-old institution stay strong and member-focused. “My job is to look at profitability, long-term solvency, and make sure we’re providing the best services to our members,” he says. “PenAir’s not-for-profit model means we give back—whether that’s through high CD rates or financial counseling.”

PenAir’s services go far beyond traditional banking. The credit union offers one-on-one counseling through certified financial counselors and supports various education programs for students, athletes, families, and even small business owners. One standout initiative is the “NOW” program, a yearlong financial transformation challenge where selected families work closely with a counselor to improve their financial wellness—with incentives to celebrate their success.

Carter also has a special focus on military personnel. Having spent years advising fellow soldiers on budgeting and long-term planning, he understands the challenges service members face—especially when young recruits are suddenly handed sizable enlistment bonuses. “It’s easy to overspend when you’re 18 and suddenly have $20,000 in your account,” Carter says. “The key is making smart decisions early on—putting aside money for the future, even just 5% into a TSP. It’s free money, and it adds up.”

He emphasizes that financial planning is not one-size-fits-all. Whether it’s a student juggling scholarships and loans, a soldier managing a new income, or a family working to build savings, Carter tailors his guidance to each situation. “Personal finance is more personal than it is finance,” he explains. “That’s why budgeting and planning have to reflect each person’s goals, lifestyle, and values.”

PenAir currently serves members in Florida, Alabama, and Virginia, with 12 branches and virtual appointment options for accessibility. “Our goal is to make financial guidance easy to access,” Carter says. “We’re here to help—whether you’re saving for your future, tackling debt, or just need someone to talk through your finances with.”

https://www.youtube.com/watch?v=1i3Hu7k1Fac

🎧 To hear the full conversation with Carter Herman tune in to his episode on The Savoir Faire Audio Experience, streaming now.