BURBANK, Calif. – Lockheed FCU announced yesterday it has started its own 501 ( c ) charitable organization which will be able to accept tax-deductible donations from members and outsiders to help finance community activities.
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The LFCU Community Stars Foundation will select charities to support each year by a board made up of the credit union’s employees.
The four charities to be supported in 2008 are the Burbank Temporary Aid Center; Penny Lane; the Santa Clarita Valley Senior Center and weSPARK Cancer Support Center.
Several other large credit unions, including Patelco CU, Navy FCU, Pentagon FCU, GTE FCU and North Carolina State Employees have created non-profit arms that enable them to better fund charitable causes.
