SOURCE: Lockheed Federal Credit Union

January 15, 2008 13:00 ET

Lockheed Federal Credit Union Launches the Community Stars Foundation to Support Local Nonprofit Organizations

Largest Financial Institution Headquartered in San Fernando Valley to Raise Money and Promote Employee Volunteerism for Local Charities

BURBANK, CA--(Marketwire - January 15, 2008) - The Lockheed Federal Credit Union (LFCU), the largest financial institution headquartered in the San Fernando Valley, today announced it has started the LFCU Community Stars Foundation, a 501(c)(3) charitable nonprofit organization.

Community Stars, which was developed by the employees of LFCU, was started to provide support to charities selected by LFCU employees through financial donations and volunteerism. LFCU employees can make contributions to the chosen charities through regular payroll deductions and are able to volunteer during their normal work hours. Every year, LFCU Community Stars will select which charities to support, with final decisions being made by the Foundation's Board comprised of LFCU employees.

LFCU also offers a donation-matching program for employees who make contributions through payroll deduction. Additionally, LFCU Community Stars will launch programs aimed at the 100,000 members of LFCU in an effort to increase the Foundation's ability to help charities in the communities served by LFCU.

"LFCU Community Stars is unique in that it is an IRS-approved nonprofit organization run by our employees," said Dave Styler, president and chief executive officer of Lockheed Federal Credit Union. "LFCU is one of the few companies that offers a means for employees to give back to their communities through donations of both time and money. Supporting the communities we serve is a basic principle under which LFCU operates, and Community Stars takes that support to the next level."

The four charities that were selected by the Foundation's Board for 2008 are the Burbank Temporary Aid Center, Penny Lane, the Santa Clarita Valley Senior Center and the weSPARK Cancer Support Center.

The Burbank Temporary Aid Center provides emergency aid, food, shelter, and life necessities to children, families and individuals in the Burbank area who need short-term assistance and are not receiving the help they need from other agencies. More information is available at

Serving the Antelope, San Fernando and San Gabriel valleys, Penny Lane fosters hopes and dreams by empowering children, youth and families to reach their highest potential. The organization's services include residential treatment, foster care, adoption services, an on-site special education school, outpatient mental health services and transitional housing for emancipated foster youth. More information is available at

The Santa Clarita Valley Senior Center is a multipurpose facility dedicated to promoting independence, dignity and quality of life for senior citizens, and the community at large through community resource management and coordination, advocacy and a full spectrum of activities, events and community services. More information is available at

weSPARK is a special place dedicated to enhancing the quality of life for cancer patients and their families and friends throughout the Santa Clarita and San Fernando valleys. Founded by actress Wendie Jo Sperber, who lost her battle with breast cancer in 2005, weSPARK provides a positive environment where individuals can join with others to share their experience, strength, and hope. The organization offers multiple services designed to heal the mind, body and spirit of individuals whose lives have been affected by cancer. More information is available at

LFCU members wanting to participate in the LFCU Community Stars Foundation can get more information at

Lockheed Federal Credit Union has more than 100,000 members and more than $2.6 billion in assets. Chartered in 1937, LFCU offers members preferred rates on savings and loan accounts, surcharge-free access to 25,000 ATMs, and access to a nationwide network of branches.

Today, LFCU is the largest financial institution headquartered in the San Fernando Valley and recently earned a perfect score for financial strength from independent rating company, IDC Financial Publishing. Membership is open to all Southern California residents. LFCU operates branches in the San Fernando, San Gabriel, Santa Clarita, Conejo and Antelope valleys, as well as eastern Ventura County. Deposits in LFCU are federally insured by the National Credit Union Administration. LFCU is an equal housing lender.

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