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January 01 2009

Operation HOPE and LA Financial Federal Credit Union Partner to Bring Branch to South Central Los Angeles Community

(LOS ANGELES, CA) --- July 23, 2009 --- Financial literacy and empowerment nonprofit Operation HOPE (HOPE) and the rapidly growing LA Financial Federal Credit Union (LA Financial) joined together today to announce the grand opening of the LA Financial branch, located next to HOPE’s Banking Center Network at 3717 S. La Brea, in Los Angeles. Professional football athlete, Chris Draft joined political representation from the office(s) of Mayor Villaraigosa, Congresswoman Lucille Roybal-Allard, State Senator Curren Price, Speaker of Assembly Karen Bass, Supervisor Mark Ridley-Thomas, Inglewood City Councilman Ralph Franklin and State Assemblyman Ted Lieu for the ribbon cutting ceremony. 

The public turned out early morning festivities. Operation HOPE Executive Vice President, Chief, HOPE Banking Center Network, Lance Triggs provided the welcome. LA Financial CEO, Barbara Nall in her address said, “Our partnership with Operation HOPE has proven to be a great benefit to the community. This new branch helps us to serve new members on the West side of LA County. We are also pleased with our ability to provide financial literacy education to over 1,000 students with the Banking on Our Future program.”

LA Financial was recognized for their efforts to bring financial services and economic opportunity to the Southern Los Angeles community with a Commendation, presented by Dorinne Jordan from Second District Supervisor, Mark Ridley-Thomas, and a Certificate of Recognition was presented to both organizations from Senator Price, by Sr. Deputy, Angie English. The Los Angeles County Board of Supervisors also presented a plaque to the organizations for their work to bridge the financial divide.

Draft, who started the Draft Family Foundation, believes financial literacy and healthy lifestyles is a core value for a healthy community. “The importance of family literacy and character education, with a focus on personal responsibility and self-discipline are all critical to uplifting communities and empowering families to live healthy lifestyles,” he shared with the audience.

The new venture will allow each organization to expand its services to another market segment. As a result of the partnership, HOPE will offer "one-on-one" home ownership, credit and money management counseling to LA Financial members and unbanked residents of the surrounding community. The agreement will also promote HOPE's Banking on Our Future financial literacy program, encouraging LA Financial employees to volunteer as HOPE Corps members to teach local students the ABC's of being smart money management.

LA Financial Credit Union began in the late 1930's, building on a tradition of safety and security by providing first-rate service to its members. Member service is defined by excellence through fiscal responsibility, convenience, operating efficiency and ethical business practices. Membership is available to anyone who lives, works, worships, and volunteers or attends school or operates businesses or other legal entities in Los Angeles County, California.

"Education is the ultimate poverty eradication tool, and financial literacy is one of the most important issues facing our nation today," said Operation HOPE President and Chief Operating Officer Bill Walbrecher. "Our partnership with LA Financial will help ensure that we give people a hand up, educating families about how to take control of their financial futures and their lives."

To find out more about the services at the La Brea LA Financial Branch call 800.894.1200 or visit www.lafinancial.org