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800-894-1200
1520 W Colorado Blvd
Pasadena, CA 91105

LA Financial Credit Union is headquartered in Pasadena and is the 87th largest credit union in the state of California. It is also the 609th largest credit union in the nation. It was established in 1937 and as of December of 2013, it had grown to 84 employees and 36,189 members. LA Financial Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership is open to those who live, work, worship, volunteer or attend school in, or businesses or other legal entities in Los Angeles County, California or Lake Havasu, Arizona. Employees of Select Employer Groups and family members of existing LA Financial/Havasu Community Credit Union members are also eligible to join. A minimum $5 balance is required in the savings account to maintain membership. - See Details

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Reviews (8)

Bad Experience

This is an organization that treats her members like crap regardless of how long they have been with them.  This organization is not sympathetic to members that have fallen on hard times during this great recession that we are experiencing in the country.  Even though I am struggling to make some payment on a credit card I have with this organization, they still took me to court, obtained a jugment against me because the $250.00 monthly payment I was making was not enough, they want $400.00 isntead.  An employee called me and told me that he doesn't know me nor care about my personal situation, and he does not care if I am 3 months behind on my house payment.  This is not an organization anyone should have or set up a relationship with, especially when when you do not know what tomorrow might hold for you.  You may be able to make ends meet today, but tomorrow you loose means of living and if this happens to you, LA Financial will throw you out to the wolves and leave out ther to die.  LA FINANCIAL SUES PEOPLE THAT OWE THEM NO MATTER HOW LONG THEY HAVE BEEN A MEMBER, WHETHER THEY HAVE BEEN PAYING ON THE DEBT AND JUST TEMPORARILY ARE UNABLE TO. They do not work with their members or help them get through their fianncially difficulty.  Is this a credit union one should be doing business with?.  There are a lot of people who do not think so. Please think twice before establishing a relationship with them or you might be sorry forever like me.

2 Day Hold On A CASH Deposit

I deposited CASH into their machine in Pasadena and they held the funds for 2 days. There is a slot for cash deposits and a slot for check deposits. their lame excuse was that the machine can't tell if it is a cash or check deposit. Bullshit, I say.

They have dinged me for $86 in NSF because I deposited CASH in another credit unions machine on a Sunday. They held my deposit until Wednesday.

They haven't heard the last of me. If you see someone outside the Pasadena branch with a picket sign, it will be me.

Don't Know About Car Loans, But Great Otherwise.

I joined the Ban Transfer Movment in 2011 and dumped my accunts of BofA and Wells Fargo. I found the online account opening process to be easy. Even though I had a non-standard govt ID (passport) I was able to open my account.

The only hitch I found the initial funding process for ACH/EFT was confusing, and my initial depost was taken out twice, luckly I had just picked the min transfer amount.

Once the accounts where opened, everything has been smooth and well working. I have only had a few live interactions with bank employees, and they have always been friendly and helpful, even though the CU has gained a lot of new clients.

The CU website works great. The bill pay service works great, and it is full featured system that has many vendors already set-up for electronic transfers.

Even more impressive is that their mobile application for android actually works, and works well, even on my no-brand chinese made android tablet.

Other pro's: No acct fees, no limits on check writing/withdrawls, free checks. Large shared free ATM network, which includes many deposit taking ATM's. I have no problem finding an ATM in LA, san Fran, and even Arcata/Eureka, CA.

Cons: Low interest compared to online banks (0.10%), CU branded credit card does not offer any points or interest special.

UNBELIEVABLE

Bunch of rude people working there. They don't care about anything. Just wanna take your money out of your pocket. Took my car from my garage because of insurance problems that had been solved and asked for $2,000 more than the balance as penalty, ALL IN CASH, to give me back my car. They didn't care that I've never had any late payments or any problems for the past three years. They even charged me for the interest of the money that I've already paid for the next 18 months. Imagine if I didn't have $4,000 cash to get my car back.

Don't Get Car Loans Fro This Company

The people working for this company are unbelievably rude, dishonest, and unprofessional! I still can't believe the person I talked to treated me so nastily! And he refused to transfer me to his supervisor telling me "higher level management does not talk to people!!!" they contacted me few weeks agotelling me I need full coverage on my old car with $2000 left to be paid off. I did not know that but immediately I purchased full coverage. They still raised my payment by $70 even though I was told that the insurance fee they added would be refunded when they receive my proof of insurance! A bunch of liars! I am so disappointed!

Poor Customer Service

I have been a member for 20+ years and I can tell you that the longevity has not afforded me ANY service.  When my gas payment was incorrectly routed to my savings account and not my checking where the funds were located, LA Financial charged me twice ($28 each time) for the gas company having tried to collect the funds.  They did not pay the bill but withdrew the fees from my checking.  They claim to have sent me a letter in the mail but I have yet to receive it.  When I called to have the fees refunded to my account, they looked back over my 20+ year history and found one prior instance where I had fees reinstated and therefore can't grant the refund without higher level approval.  That's it folks.  There is the thanks for 20+ years of direct deposit and loans for all my vehicles even though they DON'T offer the best rates.  I am currently looking for a new credit union.  Any suggestions?

Break Up With My Bank, Why?

Went to open an account... they asked questions that had nothing to do with opening an account... then there was a hassle with my ssn, when I have never had a problem in the past. I requested the option to pick up my new atm at the branch for security; they mailed it to my home. I requested electronic statements, they sent paper and charged me $2. I Deposited 2 payroll checks on 3/27, funds not available till 4/11, when I asked why, I was told bank policy, the following week I deposited another payroll check, and asked for access to part of my previous deposit to pay bills, the manager came over, looked at the screen with an, "I'm very concerned about your request" expression on her face, for several seconds and then said sorry, its policy. I got another look when I asked her if its just policy, why didn't she say so in the first place. Maybe its just me but the overall vibe there isn't very friendly. They advertise break up with your bank... my question is why, when they act the same way?

HORRIBLE BANK

I HAD A HORRIBLE EXPERIENCE WITH THIS BANK. I WOULD NEVER RECOMEND THIS BANK TO ANYONE.



Health

Data for Q4 2013

Institution Health

B+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 LA Financial Credit Union had $452,000 in non-current loans and owned real-estate with $28.04 million in equity and loan loss allowances on hand to cover it. This gives LA Financial Credit Union a Texas Ratio of 1.61% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for LA Financial Credit Union experienced no significant changes from 0.37% as of December 31, 2012 to 1.61% as of December 31, 2013, resulting in a negative change of 331.43%. This indicates that the balance sheet and financial strength for LA Financial Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C

In the past year, LA Financial Credit Union has decreased its total deposits by -$3.66 million, resulting in -1.15% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth LA Financial Credit Union has shown is average.

Capitalization

GRADE:
C

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. LA Financial Credit Union has $347.5 million in assets with $28.04 million in equity, resulting in a capitalization level of 8.07%, which is average.

Institution Statistics

Overall
NCUA #2024
Year Chartered1937
Employees84
Primary Regulator
Assets and Liabilities
Assets$347.50 million
Loans$175.94 million
Deposits$314.10 million
Equity Capital$26.70 million
Loan Loss Allowance$1.34 million
Unbacked Noncurrent Loans$452,000
Real Estate Owned$0
Historic Data - December 2012
Assets$356.66 million
Equity Capital$30.69 million
Loan Loss Allowance$1.16 million
Unbacked Noncurrent Loans$452,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.39%
Return on Assets-0.34%
Return on Equity-4.44%
Interest Income$10.32 million
Rates

Always verify rates and promotions with the bank or credit union. We are not LA Financial Credit Union, we are a rate comparison website and can not provide official rates or promotions.

LA Financial Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%$200k-Ready Asset Savings
0.05%$500-Primary Savings
0.05%--Youth Primary Savings
0.05%--Secondary Savings
0.05%--VISA Savings
0.05%--Tradional IRA Savings
0.05%--Roth IRA Savings
0.05%--SEP IRA Savings
0.05%--CESA Savings

LA Financial Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$200k-Money Market Maximizer
0.25%$200k-IRA Money Market
0.25%$200k-Roth IRA Money Market
0.25%$200k-SEP IRA Money Market
0.25%$200k-CESA Money Market

LA Financial Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$50k-Premium Checking
0.05%$50k-Premium Checking PLUS

LA Financial Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.05%$200k-60 Month Fixed Rate Term Share (Certificate) Account
0.75%$200k-36 Month Fixed Rate Term Share (Certificate) Account
0.50%$200k-24 Month Fixed Rate Term Share (Certificate) Account
0.40%$200k-12 Month Fixed Rate Term Share (Certificate) Account
0.25%$200k-6 Month Fixed Rate Term Share (Certificate) Account
0.20%$200k-90 Day Fixed Rate Term Share (Certificate) Account
0.15%$200-12 Month Growth Certificate

LA Financial Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.05%$200k-60 Month IRA Certificate (Traditional,Roth,SEP,CESA)
0.75%$200k-36 Month IRA Certificate (Traditional,Roth,SEP,CESA)
0.50%$200k-24 Month IRA Certificate (Traditional,Roth,SEP,CESA)
0.40%$200k-12 Month IRA Certificate (Traditional,Roth,SEP,CESA)
0.25%$200k-6 Month IRA Certificate (Traditional,Roth,SEP,CESA)
0.20%$200k-90 Day IRA Certificate (Traditional,Roth,SEP,CESA)
0.15%$200-12 Month Growth IRA Certificate (Traditional,Roth,SEP,CESA)
Locations


LA Financial Credit Union Locations
Branch Office55 Lake Havasu Ave S Ste JLake Havasu City, AZ 86403
Branch Office224 N Fair Oaks AvePasadena, CA 91103
Branch Office12125 Imperial Hwy # A1Norwalk, CA 90650
Branch Office716 W 1st StLos Angeles, CA 90012
Branch Office1520 W Colorado BlvdPasadena, CA 91105