What is a Credit Union?
Unlike banks and savings & loans, every member is a co-owner – there are no stockholders. We provide higher rates on savings, lower rates on loans, and free or low-fee services to our members.
Credit Unions exist to serve their member-owners by helping them to make the most of their money.
WHY YOU SHOULD BE WITH A CREDIT UNION VS. A BANK
Owned by their members (rather than outside stockholders), credit unions are focused on people – not profits. Members elect a volunteer board to oversee their credit union; the credit union’s resources are then directed toward the good on the membership as a whole.
As not-for-profit institutions, credit unions are generally able to offer lower loan rates and higher deposit rates than the banks.
Valuable FREE Services
LA Financial Credit Union provides members with no-surcharge access to over 5,000 CO-OP Shared Branch Network locations and nearly 30,000 surcharge free CO-OP ATMs. That’s more ATMs then some of the largest banks!
You can also take advantage of the many services we offer our members. These include free home, auto and life insurance quotes, car buying services and financial coaches ready to assist you with managing your money – whether it’s saving for the future, deciding to purchase a home or retirement.