The Pancretan Endowment Fund represents a unique link between Cretans in the United States and those in Crete, Greece. This connection between the two countries has been nurtured over the years to increase the likelihood that these peoples with a common heritage -- both in the United States and in Crete -- will continue to celebrate the Hellenic and Cretan identity and heritage which connect these two nations and their people. As such, the PEF is considered one of the most successfully run programs of the Pancretan Association of America.
The PEF is designed to assist the Universities of Crete by allowing them to enhance their educational faculties so that they may achieve equal status with American institutions of higher learning. This goal is achieved by providing educational programs, summer courses, internships, seminars, and bi-lateral student exchanges for the youth. In the process, the bonds of co-operation between the people in Greece and those living the United States are strengthened.