Financial Partners Credit Union is headquartered in Downey and is the 30th largest credit union in the state of California. It is also the 218th largest credit union in the nation. It was established in 1937 and as of June of 2024, it had grown to 281 employees and 92,010 members at 14 locations. Financial Partners Credit Union's CD rates are 4X the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in Financial Partners Credit Union is open to anyone through membership in the American Consumer Council, regardless of residency or employment status. Individuals who live, work, attend school, or worship in the California counties of San Diego, Orange, or Los Angeles counties, or the California cities of Alameda or South San Francisco also qualify for membership. Eligibility also extends to members of AARP, as well as employees/retirees/members of nearly 700 Select Employees Groups, including Boeing Aircraft and Missiles Division and Rockwell International. (A full list of SEGs can be found on the credit union's website.)
See current membership details
Related Posts
1/2 - Financial Partners Credit Union Has 3.00% APY 60-Month Jumbo CD
2/3/15 - Financial Partners CU (CA) Offers Competitive Rate 5-Year CDs
4/6/07 - 5.70% 7-Month CD at a California CU (Financial Partners)
3/14/07 - 5.50% 14-Month CD at a California CU - special early withdrawal feature (Financial Partners)
11/14/06 - 6.07% 13-Month CD at a LA Credit Union (Financial Partners)
11/10/06 - 10% 7-Month CD at a LA Credit Union - $1K Max (Financial Partners).
3/31/06 - 10% 12-Month CD at a Multi-State CU ($2.5K max)
Special 6.5 Rate Only Available In CA
Website says
Offer is available to new members only in Los Angeles, Orange, Riverside, or San Diego County; the city of South San Francisco; and the city of Alameda, California
Cant Get Special Rate Online
Tried to get the special 6.5% 8 month cd but there is no option to open it online.
Frustrating Unnecessary Bill Pay Policy Change
Financial Partners Credit Union (FPCU) used to have a fabulous Bill Pay system. But sadly, they made a frustrating & unnecessary change that hardly any other financial institution that offers Bill Pay has done.
If you use your computer to initiate a Bill Pay payment to an existing payee you've already registered and have paid prior, you must now get a text message or email code every time. Let me reiterate that I am talking about an existing payee you've already added to your Bill Pay recipients list, from a computer you've already registered as a safe log-in machine, and from the same IP address you've used.
And even worse, let's say you have already scheduled a payment to an existing payee from your computer, and you did get a code to type in confirming it is you authorizing the payment. But then a short time later you want to edit the amount of the payment. Insanely, you have to get yet another code! Example: I schedule a Bill Pay to pay my credit card bill, which is a prior payee. I make it $30. But then an hour later I log back in to make the already scheduled payment to be $40 instead. I have to get another email or text code to make this change. Keep in mind again that I logged in from the same exact computer and IP address, and no code was required to log in because the computer was already authorized.
I have called FPCU to complain about this, but they won't change the policy back, as of this writing. I mentioned that I have a few accounts at other financial institutions that don't do this, but FPCU doesn't seem to be swayed. Also keep in mind that I have had an FPCU account for so long, and for that entire time this new Bill Pay policy did not exist.
I welcome that they want a code if I add a new payee, or if I am using a new computer, of course. But I'm not, and the payees have already been paid multiple times in the past. And all of my payees are electronic payments to utilities and credit card bills from legit banks. They are not Bill Pay checks to individuals.
Now, also keep in mind that if you use your phone app to initiate the Bill Pay payment to an existing payee, no text message or email code is required. It's only if you decide to utilize online banking Bill Pay from your computer.
I no longer recommend FPCU to anyone who uses their Bill Pay often from their computer because of this new unnecessary Bill Pay policy.
Horrible Customer Service
I received an email that my account was opened, then when I tried to access the account. I was given the run around and the customer was very nasty and rude. I felt like I was being interrogated. They ended up closing my account, they said it was a red flag. I think they are prejudice and was very discriminatory against me. I will be filing a more detailed report with the BBB. Don’t bank with them at all. They are horrible.
Just Really A Very Bad Bank
I opened a chk saving account, and i now learned all the loopholes
1. Their online chat - bad... never opened
2. the 8 month CD - dont have a chance online
3. the IRA CD - will never have a chance - they say visit the bank? how do i get there if i live far away!
4. They doing everything by MAIL? For real, at this current year of 2024 when everything else is electronic! Why bother answering the phone calls then!
I Was Punished Because I Invested
On January 5, 2024, I opened a checking, a savings, and a CD account. An hour later, my phone nearly exploded with alerts that my credit score had dropped 4 points due to a serious inquiry. It turns out that FPCU penalized me for investing my money with them. I indicated several times that I'm extremely disappointed, and a person promised over the phone that they would restore my credit score within 5-10 business days. Today, the evening of February 9th, I still see my reduced credit score. It doesn't appear on my profile, "your credit score is not available", but I check with any other bank, it shows the reduced number and that FPCU serious inquired on my credit rating, because of them, my credit rating decreased. DO NOT INVEST at FPCU because they will punish you as they punished me. SHAME ON YOU FPCU!!!!
Complete Trash
Complete trash. I was quoted 1 rate over the phone, then sent paperwork for a rate almost 3 times more. The honored their mistake, fast forward 8 years and I move out of state and register the car out of state. 2 years go by and i pay off the vehicle. They send my title to the wrong state and now the DMV for a state the car has not been registered in for almost 4 years wont release my pink slip. This is also AFTER MY ADDRESS WAS UPDATED WITH FINANCIAL PARTNERS FOR YEARS. they still sent this to the wrong address and wrong state DMV. Told me oops. DONT BANK HERE
Waste Of Time
they will lock your account, tell you it doesn't exist, and put you on hold to hang up on you after wasting 20 minutes. multiple times.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68457 |
| Year Chartered | 1937 |
| Employees | 281 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.23% |
| Return on Equity - YTD | 3.6% |
| Annual Interest Income | $49.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $2.23B$2.28B |
| Loans | Q2 2024vs Q2 2023 | $1.8B$1.87B |
| Deposits | Q2 2024vs Q2 2023 | $1.84B$1.82B |
| Equity Capital | Q2 2024vs Q2 2023 | $144.6MM$146.9MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $10.8MM$6.7MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $5.9MM$4.1MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |
