This is a regular feature on philanthropic activities by Valley-area businesspeople and companies. The San Fernando Valley’s largest financial institution, Lockheed Federal Credit Union, has received IRS approval to form a nonprofit 501(c)(3) entity that will be called the LFCU Community Stars Foundation. In deciding to jump through the legal hoops required to create a separate foundation, President and CEO Dave Styler said they wanted to make it as easy as possible for staffers to donate to local charities. “This will allow all payroll deductions earmarked by employees for charitable contribution to be tax deductible,” said Styler. LFCU “will match 100 percent of each contribution.” The foundation board is made up of 13 employees who volunteered for the positions. The terms will be staggered and in the second year of the foundation’s operation, all LFCU employees will be eligible to throw their hat in the ring for election. Foundation Vice Chair Kara Fitzgerald and board member Midori Reed explained how they went about selecting the charities that would receive the foundation’s largesse. “We started with about 20 charities,” Fitzgerald said, and each was asked to provide information about their organization. “We actually went and visited about 10 places to see what would be the best fit,” added Reed. “We wanted charities where employees could volunteer easily.” That meant finding groups that had opportunities for volunteerism and were geographically accessible. In addition to supporting the charities financially, LFCU gives each employee up to eight hours per year to volunteer on company time. “We deliberately chose charities that were not big national entities,” Styler said. “We wanted to make a difference in the local community by supporting worthwhile local charitable organizations.” The four that were selected are Penny Lane in North Hills, a foster care/adoption support center; weSpark Cancer Support Center in Sherman Oaks, Burbank Temporary Aid Center, and the Santa Clarita Valley Committee on Aging Corporation. Most of LFCU’s workers hail from around the valleys, as do nearly 80 percent of the credit union’s members. Fitzgerald said that in 2009, employees will be able to submit new charities they would like sponsor. On Dec. 7, the foundation sponsored a sign-up event where employees could get assistance in filling out their payroll deduction forms and meet representatives from the four foundation recipients. After the event, community relations specialist Alethia Calagias said she was very pleased with the turnout. “On the first day of enrollment more than 30 percent of LFCU’s staff signed up.” Rotary Assists Neighbors Beginning in January, Calabasas residents experiencing temporary misfortune such as a devastating illness, unexpected death in the family or personal disaster will be able to receive a variety of services including counseling and financial assistance from the Calabasas Rotary Foundation. Thanks to a $25,000 grant from the City to fund a service grant agreement, Calabasas Mayor Pro Tem Mary Sue Maurer said in a prepared statement, “Now residents can turn to the Calabasas Rotary in a time of extraordinary need to find helpful information, solace and some short-term relief during a financial crisis.” Glendale Bank Adopts a Family Rather than having a company gift exchange, the employees of America’s United Bank decided to adopt a needy family this holiday season. The recipients of their largesse were recommended by the New Horizons Family Center, a non-profit Glendale social service agency. The family selected a single mother and her two children, ages 5 and 7 had sought refuge at New Horizons when they became homeless. AUB donated toys and clothing for the children; furnishings and appliances for the family’s new apartment; and clothing and $250 for the mother. Feeding the Needy Blue Cross of California donated $30,000 to food banks throughout California in December including $5,000 each to the Downtown Women’s Center and Fred Jordan Missions, which both provide assistance to Skid Row residents. Better Christmas in the Barrio Keyes Automotive Group was the title sponsor for the 2007 two Christmas festivals for El Proyecto del Barrio, a social service agency that provides comprehensive health and human services to the economically disadvantaged. At the events, thousands of toys and food for holiday meals were distributed and medical and dental screenings, immunizations, and information about other available services were given to participants. More than 3,500 members of needy families turned out for the December 15 events in Arleta and Winnetka. INFO BOX Lockheed Federal Credit Union Assets: $2,540,702,264 Members: 99,055 Employees: 380 Chartered: 1937 Headquarters: Burbank, Calif. Branches: Palmdale, Stevenson Ranch, Valencia (2), Pasadena, Simi Valley, Woodland Hills, Westlake Village
