HCSC Foundation was created for the sole purpose of assisting JC Penney associates that have fallen on hard times. In 1959 the HCSC club held its first national convention in Denver in honor of Mr. Penney’s 84th birthday. During the convention it was mentioned that there were many retired associates who were possibly in need of financial assistance. It was decided that a foundation would be established to provide assistance to qualified associates.
Mr. Penney made a sizable contribution and over the years HCSC members have also been generous with their donations.
Assistance is given as determined by the Foundation board that is made up of retired associates who volunteer their time. Requirements for assistance is any retired associate of the JCPenney Company or their spouse, should the associate be deceased, who is at least 60 years of age with 20 years of service. Most assistance is given to associates that currently have a negative cash flow and very much in need of help in meeting their basic needs. Some are in nursing homes and require extended care. The foundation is currently providing assistance for more than 80 associates and has provided more than $6.0 million to qualified associates in need.