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XEROX EMPLOYEES 'BANKING' ON SOUTH-CENTRAL L.A.'S FUTURE; XEROX CREDIT UNION VOLUNTEERS TO TRAIN EMPLOYEES OF NEW COMMUNITY-OWNED LENDER

 LOS ANGELES, Aug. 25 /PRNewswire/ -- A cadre of Xerox Federal Credit Union employees has volunteered to train the first employees of a new community-owned credit union designed to bring economic vitality to residents and businesses in South Central L.A., an area that last year was ravaged by the effects of racism and riots.
 The new South Central Peoples Federal Credit Union was chartered October 1992, and is expected to become operationAL Sept. 1. The credit union will serve about 600,000 people who live or work in an area with a great need for loans and financial services, but few lending institutions to meet the challenge.
 Four to six Xerox Federal Credit Union employees, volunteering through the company's community-involvement program, will spend five to 10 days training prospective tellers, finance and accounting people who will staff the new operation. Xerox credit union staff will also be available during the first opening days.
 "The need for a lender with a vested interest in South Central is real -- it's a community reaching out for a helping hand," said Kevin Foster-Keddie, president and CEO, Xerox Federal Credit Union, based in El Segundo, Calif. "This outreach embodies the spirit and commitment of Xerox people throughout the Los Angeles Basin."
 In the months since the civil unrest consumed South Central L.A. in April of 1992, more than 500 Xerox employee-volunteers have committed thousands of hours to community service efforts, leveraging the considerable investments of cash and services donated by the corporation.
 Already, this sustained and coordinated effort by Xerox people has resulted in a training and employment program for disadvantaged residents, a project to refurbish an inner-city community center, donations of pro bono legal services, consultation and training support for the Rebuild L.A. organization, the delivery of truckloads of clothing, foodstuffs and office furniture, and a curriculum to address the needs of troubled parents and students.
 But because of its scope -- an inner-city community spanning 50 square miles and potentially serving 600,000 people -- the credit union's charter is considered an unprecedented undertaking.
 "Xerox Corporation employees have given generously of their time, energy and expertise," said Clyde Johnson, chairman, South Central Peoples Federal Credit Union. "They are helping to ensure that on the first day we open for business, the people behind the South Central Peoples Federal Credit Union have the tools and skills required to help us help our community."
 -0- 8/25/93
 /NOTE TO EDITORS: Interview and photo opportunities are available at 3 p.m. today at South Central Peoples Federal Credit Union, Black Employees Association Building, 5462 Crenshaw Blvd., Los Angeles./
 /CONTACT: Jeffrey Simek of Xerox Corporation, 716-423-5230, or Diana Millins of South Central Peoples Federal Credit Union, 213-299-9560/
 (XRX)


CO: Xerox Corp.; South Central Peoples Federal Credit Union ST: California IN: CPR SU:

AR -- CL005 -- 0347 08/25/93 12:27 EDT
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Publication:PR Newswire
Date:Aug 25, 1993
Words:475
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