LAFCU raised $11,500 for the Los Angeles Regional Food Bank
GLENDALE, CA (September 23, 2021) — Los Angeles Federal Credit Union (LAFCU) raised $11,500 in donations for the Los Angeles Regional Food Bank during the month of August. The funds were raised from online contributions, in-person branch donations, and from a raffle of a barbecue gift basket for LAFCU staff and their families. For every dollar raised, LAFCU also matched up to $5,000 for the Food Bank through LAFCU’s charity, the Los Angeles Charitable Association. All donations will go toward the Food Bank’s COVID-19 Disaster Relief Fund, which mobilizes food resources and then distributes to children, seniors, and families facing hunger in LA County. Established in 2020, the COVID-19 Disaster Relief Fund, with the help of 700 agency partners, has raised $8.6 million, increased fund distribution by 125%, and provides hunger assistance monthly to 900,000 LA County residents.
One in four people in LA County faces food insecurity. However, this has spiked due to the COVID-19 pandemic, and has disproportionately impacted low-income communities in LA County. Every $25 raised or donated pays for 100 meals to feed LA County residents in need, and almost 100% of revenues go directly to programs. Each year LAFCU contributes financial resources to help the Food Bank fulfill its noble vision that no one in LA County goes hungry.
Anyone who lives in Southern California can join LAFCU and take advantage of its financial services. For more LAFCU information, visit www.LAFCU.org, call (877) MY LAFCU (695-2328), or stop by one of their branches.
About LAFCU (CA)
LAFCU was founded in 1936 by 13 Los Angeles City Employees to give fellow employees a safe, low-cost, and convenient source to borrow and save money during the height of the Great Depression. They gathered $65 to form the “Los Angeles City Employees Federal Credit Union.” In 1987, the name changed to Los Angeles Federal Credit Union to reflect a growing field of membership, which started to include immediate family members of City employees and individuals who lived in the same household as a current member. In 2006 LAFCU expanded its field again to include residents living in most counties of Southern California by establishing the Los Angeles Charitable Association, Inc. (LACA). LACA is a 501(c)3 nonprofit charity that donates and supports charities in the greater L.A. area that since 2006, has donated over $500,000 to those charities.
Now, 85 years after its initial deposit of $65, LAFCU manages $1.2 billion in assets, has 71,000 members, staffs seven branches, and its members can access a nationwide network of 30,000 CO-OP ATMs and 5,000 shared branches.
Anyone living in most counties of Southern California can join LAFCU and take advantage of its financial services. For details, visit www.LAFCU.org, call (877) MY LAFCU (695-2328), or visit a branch.