Farmers Insurance Federal Credit Union


Overview / Commentary
800-877-2345
2255 North Ontario Street, Ste. 320
Burbank, CA 91504

Farmers Insurance Federal Credit Union is headquartered in Burbank and is the 43rd largest credit union in the state of California. It is also the 304th largest credit union in the nation. It was established in 1936 and as of September of 2023, it had grown to 248 employees and 61,935 members at 12 locations. Farmers Insurance Federal Credit Union's savings rates are 8X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Farmers Insurance Group Federal Credit Union is open to anyone by joining or being a member of the American Consumer Council. Membership is also open to employees or agents of Farmers Insurance, Foremost, BristolWest, 21st Century, Farmers New World Life, Farmers Financial Services, and their immediate family.
See current membership details

Related Posts

Checking Account Bounus With Direct Deposit - 2/1/2024

Get $60 cash back annually, or 5.00% APY* on Checking balances up to $5,000 (up to hundreds in earnings). Every year! Plus enjoy: An ATM surcharge rebate of up to $10 a month Loan discounts of up to 0.50%** A 0.25% bump-up yield on Money Market and select longer-term Certificate accounts on top of our already industry-leading earnings But you only qualify when you sign up for free Direct Deposit!

Farmers Insurance FCU Makes Changes To Flex Term Cds - 1/4/2024

Framers Insurance FCU eliminated the 4 and 5 year Flex Term CD's. They only offer 3 to 24 month CD's. The CDs pay 5% APY.

Farmers Insurance FCU Has Nationally Available Rate-Leading CDs - 9/21/2023

Farmers Insurance Federal Credit Union (easy membership) is offering 9 limited-time Flex-Term CDs all earning 5.00% APY. $1k minimum opening deposit of new money.

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Easy Sign Up, And Great Credit Cards!

Not sure what the issue was with the other poster but the sign up process was very easy for me. Within less than 48 hours of applying for the Crystal Visa I was approved, and had my membership established, all through email and phone.

CD Break Penalty - Complex? A What?

Posted by: |

I called them to know what I am looking at as penalty if I require to break CD term if circumstances in life ever changes. I was told it's complex and I may loose everything, but to get principal back only. I am like list your penalty clearly on the web site or else no money from me. The term "Complex" means they wants to give you nothing back on interest. Stay away.

This Makes Me Nervous !!

Posted by: |

The following is on their website. (Federal regulations require dividends be paid from available earnings; dividends are contingent upon this regulation) Which to me it means if they did not earn enough they won't pay the interest on the CD's we are holding. Never seen this on any other bank/CU website. I was thinking of their 5 year CD, but not now !!!

Hmmm. Is All I Can Say.. Something Is Fishy!

Posted by: |

So I filled out their online so called application for a 5 year CD. Was going to fund it starting with $25K.

I sent them my drivers license both front and back sides, a , bank statement (which showed I had plenty of funds to fund the CD) plus utility bill so they could match the address on my drivers license since they requested that. Also the regular information such as Full name, SS# and DOB.

After a couple days.. I get an email stating they could not move forward with my application due to not being able to verify my Identification! My credit scores are 810 on one and 820 on the other one the major credit card companies. Exper and Trans.

What's with that? Prior to even opening up a credit card with a merchant all they need is your SS# number, name and Date of birth!!

Something tells me this credit union may not be on the up n up.. At least when it comes to their CD offerings I feel something is not right.

I cannot comment on any of their other services.. but for a 5yr.. CD this was my experience. I have NEVER ever been turned down for any Bank accounts, savings accounts, CD's etc.. Guess I cannot say that anymore!

I will take this as a blessing .. as reading some of the other reviews on CD's.. its probably a good thing they denied me. I might have just missed a bullet. Whew!!!

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Health

Health Grade Components

Overall
NCUA #1074
Year Chartered1936
Employees248
Primary Regulator
Profit Margin
Return on Assets - YTD0.45%
Return on Equity - YTD4.98%
Annual Interest Income$67.5MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$1.51B$1.32B
LoansQ3 2023vs Q3 2022$1.4B$1.23B
DepositsQ3 2023vs Q3 2022$1.26B$1.09B
Equity CapitalQ3 2023vs Q3 2022$133.8MM$138.1MM
Loan Loss AllowanceQ3 2023vs Q3 2022$19.8MM$9.8MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$11.8MM$8.4MM
Real Estate OwnedQ3 2023vs Q3 2022$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Farmers Insurance Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Farmers Insurance Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%--Online Savings
3.50%--High Yield IRA Savings
3.04%*-$2kRainy Day Savings
OTHER TIERS: 0.20% $2k+
2.50%--Health Savings Account
0.40%--Variable Rate IRA
0.30%--Coverdell Education Savings
0.25%--My Account
0.25%--(Holiday) Club Accounts
0.25%--Tax Saver
0.20%--Membership Savings
0.20%--Kid Membership Savings
0.20%--Teen Membership Savings

Farmers Insurance Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%*$100k*-Money Market Account w/ Direct Deposit
OTHER TIERS: 0.40% Up to $10k | 0.45% $10k - $25k | 0.50% $25k - $50k | 0.55% $50k - $100k
0.35%*$100k*-Money Market Account
OTHER TIERS: 0.15% Up to $10k | 0.20% $10k - $25k | 0.25% $25k - $50k | 0.30% $50k - $100k

Farmers Insurance Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%*-$5kHigh-Yield Checking
OTHER TIERS: 0.20% $5k+

Farmers Insurance Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%$1k-3 Month Flex - Term Share Certificate Special - New Money
5.00%$1k-6 Month Flex - Term Share Certificate Special - New Money
5.00%$1k-9 Month Flex - Term Share Certificate Special - New Money
5.00%$1k-12 Month Flex - Term Share Certificate Special - New Money
5.00%$1k-18 Month Flex - Term Share Certificate Special - New Money
5.00%$1k-24 Month Flex - Term Share Certificate Special - New Money
4.75%$1k-9 month No Penalty CD Special
4.15%$1k-18 Month Share Certificate
4.00%$1k-12 Month Share Certificate
3.60%$1k-9 Month Share Certificate
3.40%*$100k*-36 Month Jumbo Share Certificate w/ Direct Deposit
OTHER TIERS: 3.15% $1k - $100k
3.40%*$100k*-48 Month Jumbo Share Certificate w/ Direct Deposit
OTHER TIERS: 3.15% $1k - $100k
3.40%*$100k*-60 Month Jumbo Share Certificate w/ Direct Deposit
OTHER TIERS: 3.15% $1k - $100k
3.40%*$100k*-36 Month Share Certificate w/ Direct Deposit
OTHER TIERS: 3.25% $1k - $100k
3.40%*$100k*-48 Month Share Certificate w/ Direct Deposit
OTHER TIERS: 3.25% $1k - $100k
3.40%*$100k*-60 Month Share Certificate w/ Direct Deposit
OTHER TIERS: 3.25% $1k - $100k
3.30%$1k-6 Month Share Certificate
3.25%*$100k*-36 Month Jumbo Share Certificate
OTHER TIERS: 3.00% $1k - $100k
3.25%*$100k*-60 Month Jumbo Share Certificate
OTHER TIERS: 3.00% $1k - $100k
3.25%*$100k*-48 Month Jumbo Share Certificate
OTHER TIERS: 3.00% $1k - $100k
3.15%$1k-3 Month Share Certificate
3.15%*$100k*-36 Month Share Certificate
OTHER TIERS: 3.00% $1k - $100k
3.15%*$100k*-48 Month Share Certificate
OTHER TIERS: 3.00% $1k - $100k
3.15%*$100k*-60 Month Share Certificate
OTHER TIERS: 3.00% $1k - $100k
3.00%$1k-24 Month Share Certificate
3.00%$1k-30 Month Share Certificate
3.00%$100-24 Month Kids Certificate Special
3.00%$250-24 Month Teen Club Certificate

Farmers Insurance Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%$1k-12 Month IRA Certificate
4.00%$1k-12 Month IRA Certificate w/ Direct Deposit
3.40%*$100k*-36 Month IRA Certificate w/ Direct Deposit
OTHER TIERS: 3.25% $1k - $100k
3.40%*$100k*-48 Month IRA Certificate w/ Direct Deposit
OTHER TIERS: 3.25% $1k - $100k
3.40%*$100k*-60 Month IRA Certificate w/ Direct Deposit
OTHER TIERS: 3.25% $1k - $100k
3.25%$1k-18 Month IRA Certificate
3.25%$1k-18 Month IRA Certificate w/ Direct Deposit
3.15%*$100k*-36 Month IRA Certificate
OTHER TIERS: 3.00% $1k - $100k
3.15%*$100k*-48 Month IRA Certificate
OTHER TIERS: 3.00% $1k - $100k
3.15%*$100k*-60 Month IRA Certificate
OTHER TIERS: 3.00% $1k - $100k
3.00%$1k-24 Month IRA Certificate
3.00%$1k-30 Month IRA Certificate
3.00%$1k-24 Month IRA Certificate w/ Direct Deposit
3.00%$1k-30 Month IRA Certificate w/ Direct Deposit
Locations

Availability

Los Angeles Area

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