First Federal Community Foundation to honor departing executive director

Reception today will recognize Karen McCormick

PORT ANGELES — The First Federal Community Foundation will hold a public reception today to honor Karen McCormick, the foundation’s first executive director who recently retired.

The gathering will be held from 5 p.m. to 6:30 p.m. at First Federal’s eastside branch, 1603 E. First St. in Port Angeles, according to a press release.

Light refreshments will be served, and the program will start at 5:45 p.m.

Under McCormick’s leadership, the foundation has awarded more than $2.8 million in grants to nonprofit, government and tribal organizations in Clallam, Jefferson, Kitsap and Whatcom counties, the press release stated.

The foundation was funded in January 2015 with a gift of stock and cash valued at nearly $12 million from the parent company of First Federal Bank.

McCormick launched the foundation after working at First Federal for 32 years, having started as a teller and advancing to CEO in 1997.

Karen was appointed to the Federal Reserve Board’s Thrift Industry Advisory Council in 2000.

In 2003, she was appointed chair of that council and was named one of “The 25 Most Powerful Women in Banking” by U.S. Banker Magazine.

McCormick’s successor as executive director of the foundation is Jan Simon.

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