First Federal Community Foundation Begins Operations

First Federal Community Foundation today announced that it will begin accepting applications for grants in July of this year. The 501(c)3 private charitable corporation was funded with a gift of $400,000 in cash and 933,360 shares of stock in First Northwest Bancorp, the parent company of First Federal Savings and Loan Association of Port Angeles, upon the bank’s conversion to a public company in January 2015. As of March 31, the value of First Federal’s gift to its foundation exceeded twelve million dollars.

“We are pleased to announce that we are open for business,” said Foundation president David Flodstrom. “With this generous gift, the Foundation will build upon First Federal’s legacy of giving back to the communities it serves.”

The Foundation will accept applications from communities in which First Federal operates a full-service branch, which currently includes Clallam, Jefferson and Kitsap counties.  Grants will be considered for proposals that conform to one or more of the Foundation’s four giving priorities: Community Support, Affordable Housing, Economic Development and Community Development.

“We are very excited about the Foundation’s potential,” said Foundation executive director Karen McCormick, formerly the President and CEO of First Federal. “Of particular interest to us is the opportunity to collaborate with others who are making a difference locally, and bring additional resources to projects and programs that will enhance the quality of life for all of us.”

Additional information, including grant guidelines, contact information and a downloadable application, is available on the Foundation’s website at


About the First Federal Community Foundation:  First Federal Community Foundation is a private 501(c)3 charitable corporation funded with a gift of cash and stock from First Northwest Bancorp, the parent company of First Federal Savings and Loan Association of Port Angeles. The Foundation provides funding for community support, affordable housing, economic development and community development in communities where First Federal operates a full-service branch.

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Port Angeles, Washington, January 28, 2015 — First Federal Savings and Loan Association of Port Angeles (“First Federal” or the “Bank”) today announced that the members of First Federal have approved the plan of conversion (the “Plan”) pursuant to which First Federal will convert from the mutual to the stock form of organization.  Members also approved the contribution to the First Federal Community Foundation (the “Foundation”) established by First Federal in connection with the conversion. Read More

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