Back-to-school shopping can be exciting for kids anticipating the start of a new school year, but it can be a source of financial stress for parents. According to The National Retail Federation, in the last year, parents spent, on average, $890.07 per student in preparation for the start of school. Nearly 16% of that cost goes to cover school supplies.
Kinecta Federal Credit Union has made it a yearly practice to step in and provide the supplies students need.
Latrice McGlothin is the Executive Director of Kinecta’s Community Foundation. Her passion for community engagement makes her the ideal leader for organizing activities that include charitable efforts and educational support for the disadvantaged in the communities the foundation is committed to helping.
“Making an impact in the communities we serve is an important part of the Kinecta culture. One-way Kinecta does that is by fostering education and hosting an annual backpack drive; providing kids with the supplies they need is just one aspect of that,” Latrice McGlothin explains.
On August 10, 2024, Kinecta Federal Credit Union hosted its 15th Annual Back-To-School Backpack Drive. To help underprivileged students prepare for the 2024-2025 school year, over 600 kids received backpacks filled with school supplies. The students and their families were also treated to a sack lunch and an ice cream dessert from the Kinecta ice cream truck located on-site during the event.
The Back-To-School Backpack Drive is not the only work Kinecta does for the community. Last year, they held their 50th annual food drive event, helping ensure those in need have access to healthy food. They look forward to celebrating their upcoming 51st food drive this year.
Community partners participated in the student selection process. They included Al Wooten Jr. Youth Center, Boys and Girls Club of Carson, Camp Good Days, Environmental Charter School, East Side Riders Bike Club, Foster Love, Learn • Engage • Advocate • Partner (LEAP), LAPD Southeast Cadets, National Organization of Black Law Enforcement Executives (NOBLE), Parents of Watts, Richstone Family Center, St. Albert the Great School, St. Lawrence of Brindisi School, Thomas House Family Shelter, Verbum Dei High School, and the Watts/Century Latino Organization.
One of the largest credit unions in the United States, Kinecta Federal Credit Union has been offering services such as banking, lending and insurance, wealth management, and more to the Southern California area for over 80 years. Its headquarters is in Manhattan Beach, California, and it has over 270,000 members nationwide. With assets of 6.8 billion, it made Newsweek’s list of America’s Best Regional Credit Unions in 2024.
The Kinecta Community Foundation was founded in 1998 to help the underserved in the communities of twelve California counties, including Los Angeles County, the state’s most populated county. Latrice McGlothin currently oversees the foundation’s outreach programs that support local families.
The annual backpack drive is just one way the Kinecta Community Foundation gives back to the community and supports disadvantaged students. In 2023, the foundation participated in 200 community events. Additionally, Kinecta, its employees, and subsidiaries clocked over 7,000 volunteer hours, while 1.2 million was donated to charities.
Under Latrice McGlothin’s guidance, the foundation will continue to uphold its communities through its many programs.
For more information about Kinecta, its community activities, and how to get involved, please visit kinecta.org/community.