MANHATTAN BEACH, Calif., Sept. 18, 2023 /PRNewswire/ — To help students prepare for the 2023-2024 school year, Kinecta Federal Credit Union hosted its 14th Annual Back-to-School Backpack Drive distributing 1,000 backpacks filled with school supplies to students in need from grades three to 12. With inflation continuing to put a strain on parents and the cost of school supplies increasing 23.7% in the past two years, many parents are planning to pull back on back-to-school shopping this year, spending $597 per child, a 10% decrease from last year. This is a significant financial burden for families with limited resources, making this year’s event even more important for families.
Kinecta launched its first Backpack Drive in 2010 and has since helped nearly 7,000 students receive much-needed school supplies. Last year’s backpack drive enabled Kinecta to provide more than 846 children with backpacks containing school supplies. As part of the event, the credit union also served breakfast and lunch to over 2,000 school faculty and administrators in the area as a show of appreciation.
“For 14 years and counting, our annual back-to-school drive isn’t just an event — it’s a statement about how much we care about the communities we serve,” said Executive Director of the Kinecta Community Foundation, Latrice McGlothin. “With so much support, we were able to provide students not only the essentials but also that extra mental support for a successful school year.”
Kinecta is one of America’s largest credit unions with $6.7 billion in assets helping to guide more than 270,000 members to financial security through banking, lending, insurance and wealth services. From free online financial workshops to financial recommendations tailored for individual life events, Kinecta invests heavily in helping members live their best lives.
For more information about Kinecta, and its community activities, please visit kinecta.org/community.
About Kinecta Federal Credit Union
Headquartered in Manhattan Beach, California, Kinecta Federal Credit Union has assets of $6.7 billion and more than 270,000 members from coast to coast. Banking the Southern California area for more than 80 years, with additional branches in New York, New Jersey and Florida, Kinecta offers its members a full range of financial products from banking, lending and insurance to wealth management services. Kinecta has been recognized by the Mortgage Bankers Association as a recipient of its Diversity, Equity and Inclusion (DEI) Residential Leadership Award, and received the Best of Show award granted by the Credit Union National Association (CUNA) Technology Council. Residents of Rochester, NY, voted Kinecta as a finalist for Best Credit Union in the Democrat & Chronicle’s annual Rochester Choice Awards in 2022. Forbes awarded Kinecta as a top-ranked credit union in California on its America’s Best Credit Unions in Each State 2022 List. Kinecta has 29 locations, and its members can use a network of more than 5,800 shared branches and access over 85,000 fee-free ATMs nationwide. For more information on Kinecta, visit the website and LinkedIn.
During 2022, Kinecta, its subsidiaries and employees donated more than $1.2 million to charitable causes, volunteered over 6,300 hours and participated in over 200 community events. To learn more about Kinecta’s community outreach programs and activities, visit kinecta.org/community.
Ryann Checchi, Interdependence PR
SOURCE Kinecta Federal Credit Union
Originally published at https://www.prnewswire.com/news-releases/kinecta-federal-credit-union-distributes-1-000-backpacks-at-its-14th-annual-backpack-drive-301929968.html
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