GLENDALE, Calif.–Los Angeles Federal Credit Union (LAFCU) celebrated its 88th anniversary.
Since 1936, the credit union said it has provided members a range of products and services, many account-access options, and excellent member service. It said it will continue the celebration throughout 2024 with fun contests and giveaways, including $88 monthly raffles for members.
On its actual birthdays, LAFCU board members and senior management gathered in the Glendale boardroom to celebrate the anniversary with a special cake and festive balloons.
LAFCU was founded in 1936 by 13 Los Angeles City Employees to give fellow employees a safe, low-cost, and convenient source to borrow and save money during the height of the Great Depression. They gathered $65 to form the “Los Angeles City Employees Federal Credit Union.” In 1987, the name changed to Los Angeles Federal Credit Union to reflect a growing field of membership, which started to include immediate family members of city employees and individuals who lived in the same household as a current member.
In 2006 LAFCU expanded its field again to include residents living in the Greater LA metropolitan area by forming the Los Angeles Charitable Association, Inc. (LACA). LACA is a 501(c)3 nonprofit charity that has donated over $730,000 to other charities in the Greater L.A. area.
Now, 88 years after its initial member deposit of $65, LAFCU manages $1.3 billion in assets, has 76,000 members, staffs eight branches, and its members can access a nationwide network of 30,000 CO-OP ATMs and 5,000 shared branches.