LBS Financial Credit Union is headquartered in Westminster and is the 35th largest credit union in the state of California. It is also the 212th largest credit union in the nation. It was established in 1935 and as of June of 2020, it had grown to 209 employees and 135,490 members at 8 locations. LBS Financial Credit Union has an A+ health rating.
Field of Membership Restrictions
Membership in LBS Financial Credit Union is open to anyone who lives or works in California through joining the Financial Fitness Association through the credit union ($8 membership fee). Membership is also open to the following: (1) those who live or work in Orange, Riverside, San Diego or San Bernardino Counties in California and select cities in Los Angeles County; (2) employees or retirees of ABC Unified School District, California State University (Long Beach), Cerritos Community College, Long Beach City College, Long Beach Unified School District, Norwalk-La Mirada School District, Long Beach School for Adults, Concorde Career Institute, or Bellflower Unified School District.
See current membership details
LBS Financial
Opened (Long Beach Branch) a 5 yr cd couple days ago. Staff made the process very easy. The rate was about good as you can get in this market.
Opened 5 Year CD At Spring Street Branch
Helped my aunt open a couple of 5 year CD's at the Spring St., Long Beach, CA branch today. Was a new membership. Used a Living Trust vesting. Branch staff REQUIRED the ORIGINAL Living Trust document to review and make selected copies of key pages. Their policy requires this step. No other Bank/CU I have encountered has ever required this ORIGINAL document to open an account. CU seems a bit inflexible. If not for the rate (2.23%/2.25% APY), would have passed on this institution. Will update based upon future experience.
The EWP on a 5 year CD is a mild 180 days.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 68460 |
| Year Chartered | 1935 |
| Employees | 209 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.49% |
| Return on Equity - YTD | 4.04% |
| Annual Interest Income | $25.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $1.68B$1.50B |
| Loans | Q2 2020vs Q2 2019 | $1.09B$1.09B |
| Deposits | Q2 2020vs Q2 2019 | $1.47B$1.29B |
| Equity Capital | Q2 2020vs Q2 2019 | $197.5MM$195.7MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $4.8MM$4.2MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $1.5MM$2.2MM |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$0 |