Los Angeles Credit Union

OVERALL
INSTITUTION HEALTH

Based on 1 review

OVERVIEW /
COMMENTARY

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Overview / Commentary

www.lafcu.org

818-242-5812

300 S Glendale Ave
Glendale, CA 91205-5305

Los Angeles Credit Union is headquartered in Glendale and is the 48^th largest credit union in the state of California. It is also the 291^st largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 145 employees and 52,508 members. Los Angeles Credit Union has a A health rating.

Field of Membership Restrictions

Must be an active or retired employee of the City of Los Angeles or several related offices and employee groups. - See Details

13-Month CD Special at Los Angeles Federal Credit Union - 7/3/2014

Los Angeles Federal Credit Union is offering a 13-Month CD Special with a 1.30% APY. Credit Union membership is available to anyone who lives in Southern California.

Reviews (1)

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Very Unprofesional

POSTED ON WEDNESDAY APRIL 4, 2012 by infiniteflame

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I've had a very bad experience with this bank, through no fault of my own and their staff admitted that I'm innocent. To begin with, I applied to work for Secret Shopper and received my first assignment, which included writing an assessment of my experience with Western Union and sending money to an individual. But first, I had to deposit a postal money order into my account at the bank. I did the above and later received a very rude message from bank staff regarding a fraudulent check. I went to LAPD to file a report. The officer asked me my bank’s policy regarding fraud, i.e. some banks reimbursed you and other's didn't. I called the bank to determine their policy. The woman that I talked with had a sarcastic attitude and stated that what I experienced was a common occurrence and that she knew that I was a victim of fraud, but that their policy was that the criminals should pay for it. I informed her that the banks behavior only served to victimize me further, as their attitudes were negative. Also, as the above was their policy, it would be to my advantage to bank where there was a more customer friendly policy. I would have been more comfortable, if they had taken a more compassionate approach irregardless of their policy. They could have suggested a payment plan with which they could have been reimbursed, as well as made sure my family and I weren't inconvenience. Instead, they were not only rude, but informed Pay Pal that I had insufficient funds for two purchases that I'd paid for previously with money from my tax return before the aforementioned situation occurred. In addition, after being reimbursed from Pay Pal, they didn't reduce the amount that I owed them. This will not only mare my credit with Pay Pal, but with the individuals that I made purchases from. Not to mention, before contacting Pay Pal, they’d already withdrawn money from my account, although this I can understand. I just don’t understand, why they had to contact Pay Pal, or why the delivery of the message was so unprofessional.

Health

Data for Q1 2014

Institution Health

Texas Ratio

GRADE:

A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Los Angeles Credit Union had $4.24 million in non-current loans and owned real-estate with $96.17 million in equity and loan loss allowances on hand to cover it. This gives Los Angeles Credit Union a Texas Ratio of 4.41% 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 Los Angeles Credit Union experienced no significant changes from 4.16% as of March 31, 2013 to 4.41% as of March 31, 2014, resulting in a negative change of 5.99%. This indicates that the balance sheet and financial strength for Los Angeles Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:

In the past year, Los Angeles Credit Union has increased its total deposits by $6.75 million, resulting in 1% 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 Los Angeles Credit Union has shown is above average.

Capitalization

GRADE:

A+

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. Los Angeles Credit Union has $782.24 million in assets with $96.17 million in equity, resulting in a capitalization level of 12.29%, which is excellent.

Institution Statistics

Overall
NCUA #	1207
Year Chartered	1936
Employees	145
Primary Regulator

Assets and Liabilities
Assets	$782.24 million
Loans	$399.22 million
Deposits	$682.65 million
Equity Capital	$90.61 million
Loan Loss Allowance	$5.56 million
Unbacked Noncurrent Loans	$3.93 million
Real Estate Owned	$313,000

Historic Data - March 2013
Assets	$769.23 million
Equity Capital	$86.96 million
Loan Loss Allowance	$7.56 million
Unbacked Noncurrent Loans	$3.93 million
Real Estate Owned	$0

Profit Margin - Quarterly
Net Interest Margin	1.18%
Return on Assets	0.64%
Return on Equity	5.55%
Interest Income	$6.29 million

Rates

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