California Credit Union Launches Charitable Foundation to Support Local Community-Based Organizations & Educational Institutions

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Feb 28, 2024, 11:15 ET

California Credit Union Foundation Makes Debut Grant of $80,000 to The Greater Los Angeles Education Foundation

Foundation Will Oversee Credit Union's Giving Programs, Totaling More Than $2.5 Million Over the Past Five Years

GLENDALE, Calif., Feb. 28, 2024 /PRNewswire/ -- California Credit Union announced today that it has launched the California Credit Union Foundation to lead its community outreach and support programs, which have totaled more than $2.5 million over the last five years. A non-profit charitable corporation, the Foundation will focus on partnering with local grassroots organizations and educational institutions through grants, sponsorships, in-kind support and volunteer participation.

California Credit Union Foundation made its debut grant of $80,000 to The Greater Los Angeles Education Foundation to support multiple Los Angeles County Office of Education initiatives. (L-R) Dr. Debra Duardo, Los Angeles County Superintendent of Schools; California Credit Union President/CEO Steve O’Connell; California Credit Union Foundation President Marvel Ford; and Kerry Franco, President & Chief Deputy of Strategic Partnerships and Innovation, Greater Los Angeles Education Foundation.

"We have long lived our People Helping People philosophy in our work to strengthen the financial well-being of our communities by providing resources to non-profit partners effecting meaningful change across Southern California," said California Credit Union President/CEO Steve O'Connell. "California Credit Union Foundation will take this work to the next level in its mission to improve lives and empower our communities to thrive for generations to come."

California Credit Union Foundation recently made its debut grant of $80,000 to The Greater Los Angeles Education Foundation, an organization the credit union has supported for 20 years. The grant will be used to support multiple Los Angeles County Office of Education initiatives, including its Teacher of the Year program, Academic Decathlon, Women's Leadership Conference and other programs to support school districts across Los Angeles County.

California Credit Union Foundation President Marvel Ford said, "We're excited to launch the Foundation to fund the credit union's existing community giving initiatives as well as expand our outreach programs to make a lasting impact on the well-being of our communities. And we can't think of a better way to kick off this effort than through our debut grant to The Greater Los Angeles Education Foundation, which honors our heritage as a teacher's credit union and recognizes that education is the cornerstone of a healthy community. We look forward to helping build a better future for our communities across Southern California through strategic charitable giving and outreach partnerships."

"We are deeply grateful to the California Credit Union Foundation for the generous grant to support the Greater Los Angeles Education Foundation. This funding will enable us to continue supporting students and educators, providing essential resources and opportunities to enhance learning and development. We are committed to making a meaningful difference, and with the support of the California Credit Union Foundation, we can extend our impact even further," said Dr. Debra Duardo, Los Angeles County Superintendent of Schools.

California Credit Union Foundation will focus its resources on grants and investment in four key pillars of long-term community empowerment, including:

Investing in Our Community & Our Youth: Supporting grassroots community organizations and empowering leaders of tomorrow through scholarships, literacy activities and investment in local organizations that support their health & well-being.
Supporting Educators & Schools: Providing grants to help teachers & schools thrive in our community, support students and recognize their commitment to learning.
Promoting Financial Literacy: Investing in education programs that build financial wellness for youth and adults in our communities for long-term financial empowerment.
Honoring Our Service Members: Giving strategic grants to programs that assist military service members, their families and veterans, recognizing the service and sacrifice of our nation's heroes.

Overseen by a volunteer board of directors, the California Credit Union Foundation will centralize the credit union's giving programs across its Southern California service areas. California Credit Union will fund all administrative costs of the Foundation to ensure 100% of donations are returned back to the communities it serves. To contribute to the Foundation or learn more, please visit ccu.com/foundation.

About California Credit Union

California Credit Union is a federally insured, state chartered credit union founded in 1933 with assets of nearly $5 billion, approximately 200,000 members and 25 retail branches. The credit union serves community members and businesses in the California counties of Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura as well as school employees throughout the state. The credit union operates in San Diego and Riverside Counties as North Island Credit Union, a division of California Credit Union. The credit union offers a full suite of consumer, business and investment products and services, including comprehensive consumer checking and loan options, personalized financial planning, business banking, and leading-edge online and mobile banking. California Credit Union is certified as a Community Development Financial Institution (CDFI) with a Low Income Designation, offering inclusive products and services to build financial stability in our underserved communities, including a checking account certified as meeting the Bank On National Account Standards. Visit ccu.com for more information or follow the credit union on Instagram® or Facebook® @CaliforniaCreditUnion.