SOURCE: Lockheed Federal Credit Union

March 20, 2008 10:05 ET

Lockheed Federal Credit Union Employees Roll Up Their Sleeves for Annual Community Project

San Fernando Valley-Based Financial Institution Launches Volunteer Program With Service Initiative at Elementary School in Burbank

BURBANK, CA--(Marketwire - March 20, 2008) - Lockheed Federal Credit Union (LFCU) announced today that it is launching a Volunteer-Time-Off program with its annual Partner-to-Paint community service project on Thursday, March 27. More than 40 LFCU employee volunteers will receive company paid time off to participate in painting portable classroom units at Bret Harte Elementary School at 3200 W. Jeffries Ave. in Burbank.

"Our Volunteer-Time-Off program is a great way for employees to help our local communities, without sacrificing time they would otherwise spend with their families," said Dave Styler, President and CEO at LFCU. "We had terrific employee participation even before offering volunteer time off, and expect to have even greater participation now that employees will participate on the credit union's time."

Employee volunteers will work from 7:45 a.m. until 4:45 p.m. at the school. School officials have expressed delight in the initiative.

"Lockheed Federal Credit Union has a long history of being helpful to the City of Burbank," Principal Diane Berger said. "We're pleased that the credit union has chosen Bret Harte Elementary this year to benefit from Partner to Paint. Our fourth and fifth graders who utilize those classrooms will be happy to return from spring break to freshly painted buildings."

Burbank Unified School District employees helped select the location for the community project, which is less than one mile from the credit union's headquarters. Recently, the main school buildings were renovated, but the portable units were not and the contrast between the main buildings and the portables is striking. For this reason, these portable units are in desperate need of a coat of paint, and LFCU employee volunteers are ready to roll with the job.

"We're especially pleased to help Bret Harte Elementary with some improvements. It's rewarding to participate in this capacity," said James Davis, Director of Sales -- Division II, who will volunteer at the event.

Bret Harte Elementary, one of Burbank Unified School District's educational institutions, serves children from kindergarten through fifth grade.

Burbank business owner Tim Tilton of T&T Improvements Painting Company is donating his time to assist with the project. Dunn Edwards will donate more than 75 gallons of paint to complete the job.

PARTNER TO PAINT

Initiated in 2006, Lockheed Federal Credit Union's annual Partner-to-Paint program is designed to provide assistance to the community by painting a structure in need of an exterior coat of paint, without charge or obligation, in an area LFCU serves. (A selection process is determined by LFCU.)

LFCU, through its Volunteer-Time-Off program, offers paid time off to employees who donate their time to complete this community service.

ABOUT LOCKHEED FEDERAL CREDIT UNION

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.

LFCU recently received a five-star rating -- the highest possible -- from Bauer Financial, a source for unbiased, independent bank and credit union star ratings. The five-star rating validates that LFCU is safe, financially sound and operating well above its regulatory capital requirements.

LFCU operates branches in the San Fernando, San Gabriel, Santa Clarita and Antelope valleys, as well as eastern Ventura County. Membership is open to Southern California residents of more than 200 sponsor companies. Deposits in LFCU are federally insured by the National Credit Union Administration. LFCU is an equal housing lender. For more information about LFCU, visit www.lfcu.com.

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