Intro – Los Angeles Federal Credit Union Review
AdvisoryHQ recently reviewed the top credit unions in Los Angeles, CA. Each credit union was individually researched based on general concepts of quality and value.
Various criteria were considered during the research process, some of which include fees, convenience, branches, online banking, education materials, and the selection of available services.
Below we have highlighted some of the many reasons Los Angeles Federal Credit Union was selected as one of the best credit unions in Los Angeles, CA.
Los Angeles Federal Credit Union Review
Los Angeles Federal Credit Union (LAFCU) was founded during the Great Depression by a small group of employees who pooled together a total of $65 to form the union.
Since then, LAFCU has become a strong and innovative financial institution holding over $845 million in assets between its 55,000 members. To serve clients promptly and conveniently, operations take place through eight Greater Los Angeles area branches.
Key Factors that Enabled This Firm to Rank as a Top Credit Union
The following is a list of contributing factors that enabled Los Angeles Federal Credit Union to rank as one of 2017’s top credit unions in Los Angeles, California.
Photo courtesy of: Los Angeles Federal Credit Union
With a mission to provide only the best financial services to all Southern Californians, LAFCU puts members first and offers the added benefits of:
- Free and discounted services
- Loan pre-approval
- Low-rate loans
- Competitive savings rates
- Tradition of outreach to the community
- Easy access to accounts via phone and mobile
- Nationwide shared branches and ATMs
- Insurance and investment services
- Knowledgeable staff
The Checking and Savings Spectrum
Opening an account with Los Angeles Federal Credit Union is simple and easy. Sign up only for the services you really want and need and enjoy a custom experience that gets you ahead.
For both checking and savings accounts, you have several options. Below we’ve highlighted some of the excellent features:
- Fee-free checking (with certain criteria)
- Free ATM access
- Free online and mobile banking
- Courtesy pay for NSFs (Insufficient Funds)
- Automatic transfers, direct deposit, and payroll deduction
Second Chance Checking
- Rebuild your financial reputation
- Can be converted to regular checking in 12 months
- Low monthly fee
- Easily transferable funds
- Earn competitive dividends
- Deposits insured up to $250,000 by NCUA
Money Market Accounts
- Pays higher shares
- Up to 6 pre-authorized withdrawals per month
- Funds available in November
- No monthly service charge
- $50 minimum balance
- Roth IRA
- Traditional IRA
- Coverdell Education Savings Account
- Share certificates
Lending at a Steady Rate
Given the exceptionally broad spectrum of lending and account options, it’s safe to say that each loan application is given individual consideration when numbers come into play.
LAFCU has loan options for vehicles, real estate, personal lines of credit, and energy loans, to name a few.
More than Just the Basics
After your finances are secured, it may be time to take it up a notch and learn about how much more your money can be doing.
You don’t have to look elsewhere; Los Angeles Federal Credit Union has an expanded line of services that help you do it all from one place. These additional services include:
- VISA credit cards
- Investment services
- Financial counseling
- Meeting with an advisor
- Student and youth financial education
- Student loans
- Youth accounts
- Business accounts and loans
- Comprehensive insurance services
To browse exclusive reviews of all top rated banks in Los Angeles, please click on any of the links below:
- California Bear Credit Union
- California Credit Union
- Firefighters First Credit Union
- First City Credit Union
- Kinecta Federal Credit Union
- Los Angeles Federal Credit Union
- USC Credit Union
- Water and Power Community Credit Union
- Wescom Credit Union
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Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.
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