SOURCE: Lockheed Federal Credit Union

March 26, 2008 10:05 ET

Lockheed Federal Credit Union Employees to Give Elementary School a Face-Lift

San Fernando Valley-Based Financial Institution's Annual Paint Project Supports Burbank Community

BURBANK, CA--(Marketwire - March 26, 2008) - Lockheed Federal Credit Union (LFCU) employees are pushing aside paperwork Thursday, March 27, to volunteer for the company's annual community service project, Partner to Paint. Employee volunteers will roll up their sleeves and donate their time to paint portable classroom units at Bret Harte Elementary School at 3200 W. Jeffries Ave. in Burbank.

"My fellow Lockheed Federal Credit Union employees and I are honored to help improve the facilities at Bret Harte Elementary School," said Dave Styler, President and CEO. "We appreciate the opportunity to assist our community, and it's especially gratifying to benefit one of our neighborhood schools. I know our employees appreciate the change from their daily jobs, while also making a positive difference for local residents."

LFCU is launching its Volunteer-Time-Off program with Partner to Paint. More than 40 employee volunteers will receive company paid time off to participate in painting portable classrooms at the school from 7:45 a.m. until 4:45 p.m. 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 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 buildings are in desperate need of a coat of paint, and LFCU employee volunteers are ready for 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 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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