LOS ANGELES, CA – (Marketwire - February 3, 2010) – OneWest Foundation has made a three-year commitment of $100,000 annually to the Juvenile Impact Program (JIP) in the LAPD's Central and 77th Areas. JIP is a police program that works with at-risk youth between the ages of 9 and 15, immersing them in a boot camp style program that helps them resist gangs while improving their school attendance and performance, their relationships with their families and their self-respect. A unique feature of the program is that the parents must also participate in parenting classes.
In announcing the grant, Steven T. Mnuchin, Chairman of OneWest Bank and the OneWest Foundation, said, "OneWest is proud to be a partner of the Los Angeles Police Foundation and to be sponsoring a program so vital to the health of the communities we serve."
Los Angeles Police Chief Charlie Beck remarked: "LAPD youth programs are an investment in our future. I am grateful to OneWest Bank for their investment in the Juvenile Impact Program. Their three-year gift of $300,000 will improve the lives of children and their families in two particularly underserved areas of our city."
Police Foundation Board Chair Cindy Miscikowski stated: "We are grateful for the support of OneWest. Getting youth and their families on the right track is crucial to the safety and health of our city. OneWest is providing essential assistance."
OneWest Foundation is a nonprofit public benefit corporation established in 2009 with a $10 million contribution from OneWest Bank, FSB. OneWest Foundation priorities include the provision of affordable housing, healthcare, education, and financial literacy, as well as other important community development efforts that develop, stabilize or rehabilitate underserved communities. OneWest Bank, FSB is a regional bank focused on delivering personalized, relationship-based banking to its customers. The bank has 72 retail branches in Southern California with approximately $11 billion in deposits and total assets of $24 billion, including a loan portfolio, a securities portfolio, a servicing platform representing over $150 billion of loans serviced for third party investors, and Financial Freedom, a reverse mortgage platform. OneWest is an FDIC-insured institution and funds deposited in the bank are insured up to the FDIC's insurance limit of $250,000 per depositor. Information about OneWest Bank can be found on the company's website at www.owb.com.
The Los Angeles Police Foundation is the major source of private support for the Los Angeles Police Department. The foundation provides youth programs, equipment, technology and training that are not included in the city budget. Information about the Los Angeles Police Foundation can be found on their website at www.lapolicefoundation.org.
Karen Wagener, President, Los Angeles Police Foundation
Sard Verbinnen & Co