California Credit Union Launches Charitable Foundation

The $4.8 billion California Credit Union in Glendale announced the launch of the California Credit Union Foundation Wednesday, which will focus on partnering with local grassroots organizations and educational institutions through grants, sponsorships, in-kind support and volunteer participation.

The Foundation’s launch coincided with a debut grant of $80,000 to the Greater Los Angeles Education Foundation, which 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, according to California CU.

Marvel Ford, president of the new foundation, stated, “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.”

The credit union said its community outreach and support programs have totaled more than $2.5 million over the last five years. The California Credit Union Foundation will focus its resources on grants and investment in the following four key pillars of long-term community empowerment: Investing in our community and our youth, supporting educators and schools, promoting financial literacy and honoring our service members.

The Desert Financial Foundation, the charitable arm of Desert Financial Credit Union ($8.7 billion, Phoenix), said it raised $580,000 for Credit Unions for Kids benefiting Children’s Miracle Network Hospitals and Phoenix Children’s 1 Darn Cool School at the 26th Annual Desert Financial Foundation Golf Tournament Monday.

The news followed the Desert Financial Foundation’s late January announcement that it had delivered the largest donation ever to Phoenix Children’s 1 Darn Cool School, an in-hospital school program. The funds raised during the golf tournament brought the total amount raised by the credit union for the program to $7 million since 1999.

More than 180 attendees and sponsors played in the tournament; which took place at the Whirlwind Golf Club at Wild Horse Pass in Chandler, Ariz.; 36 teams each played with a professional golfer and everyone received a prize, the credit union said.

On Wednesday, the $1.8 billion, Sumter, S.C.-based SAFE Credit Union announced it contributed over $100,000 in aid to address financial literacy. According to SAFE, the donation covers the cost to local high schools for a personal finance course, developed by education technology provider Stukent, which provides students with effective, real-life learning experiences through finance simulations. The course is available at public and private high schools in South Carolina’s Sumter, Lee, Kershaw, Clarendon, Florence, Richland and Lexington counties, and so far, 47 schools have enrolled in the program and began instruction in January.

SAFE noted that the initiative aligns with the recent provision in South Carolina’s state budget requiring high school seniors to earn a one-half credit in financial literacy before receiving a high school diploma, which takes effect for the graduating class of 2027.

“This free financial literacy course is just one of many investments SAFE has made to help support the staff and students of Richland Two during our decade long partnership,” Kim D. Moore, superintendent for Richland School District Two in Columbia, S.C., said. “We’re looking forward to the profound, positive impact this will have for our graduates for many years to come.”

The country’s fifth-largest credit union, the $29.2 billion SchoolsFirst in Tustin, Calif., revealed that in 2023, it contributed $365,000 to children’s hospitals. The funds, a combination of corporate donations and fundraising, supported Children’s Miracle Network Hospitals and designated children’s hospitals in California, including Children’s Health of Orange County, Children’s Hospital Los Angeles, Rady Children’s Hospital – San Diego and UC Davis Children’s Hospital.

“We take pride in working with children’s hospitals throughout California to ensure children and their families receive the critical support they need. This is an important part of the credit union philosophy and commitment to the communities we serve,” SchoolsFirst CEO Bill Cheney said. “Each year it is particularly rewarding to witness the way our SchoolsFirst FCU members and team work together to create healthier and happier futures for children, families and communities.”

Also sharing its 2023 charitable contribution totals was the $1.3 billion Gulf Coast Educators Federal Credit Union. The Pasadena, Texas-based credit union said a grand total of $416,418.36 was donated to support education and local charities – $399,418.36 by the credit union and $17,000 by the credit union’s employees.

Over 178 employees participated in GCEFCU’s Employee Giving Program last year, in which they designated a few dollars of their paycheck every month to support Houston-area charities in exchange for wearing jeans on Fridays. The credit union’s contributions included classroom grants, teaching awards and scholarships.

“We believe that education is the smartest investment one can choose to make. These donations will give our educators the tools and resources they need to be successful, which in return will benefit our community as a whole,” GCEFCU CEO Linda Lukaszewski said. “We are proud of the members we serve, and we know that they make a difference in the classroom.”