Parsons Federal Credit Union


Overview / Commentary
626-440-7000
100 W. Walnut Street
Pasadena, CA 91124

Parsons Federal Credit Union is headquartered in Pasadena and is the 112th largest credit union in the state of California. It is also the 1,037th largest credit union in the nation. It was established in 1975 and as of December of 2022, it had grown to 25 employees and 10,246 members at 2 locations. Parsons Federal Credit Union's money market rates are 6X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Parsons Federal Credit Union is open to all U.S. citizens and resident aliens through membership in the American Consumer Council. Employees of Parsons Corporation, Worley Corporation, or Parsons Complex Tenants who work in Pasadena, California are also eligible to join. Immediate family members (including spouses and domestic partners) of current Parsons FCU members also qualify for membership.
See current membership details

Related Posts

Parsons Federal Credit Union 2-Year CD Is New Rate-Leader - 5/4/2023

Parsons Federal Credit Union (easy membership) has boosted the 2-year Fixed Share Certificate APY to a rate-leading level. $1k minimum deposit. Also as an IRA CD.

Parsons Federal Credit Union Has Rate-Leading 13-Month CD - 10/4/2022

Parsons Federal Credit Union (easy membership) has 13-month Certificate (4.00% APY) now through October 31, 2022. $10k min deposit of new money. Rate as of 10/4/2022.

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Excellent Service

Posted by: |

I just joined Parsons/Skylar FCU last week. Although I was hesitant after reading John2022 comments here! I was in the same position. Lots of CU's listed on my ChexSystem report, but no negative information.

However, my experience was the exact opposite of John2022. It could be that I mentioned about ChexSystem in my application? Anyway, the CSR Tiffany went above and beyond the call of duty and was able to shepherd my application and opening up of a jumbo CD within a day and a half.

It could be that Parsons is now Parson/Skylar FCU essentially?

Excellent Customer Service And Rates

Posted by: |

Joined Parsons FCU a couple weeks ago and while there were a few more steps to creating an account than a regular online bank requires, the juice was worth the squeeze. Customer service was extremely prompt and helpful in getting things set up. Looking forward to seeing more impressive rates from this credit union.

Hard Pull To Open Account

Posted by: |

they do a hard pull through experian....

Uses Chexsystems To Qualify New Accounts

Posted by: |

Parsons uses ChexSystems to qualify new account applicants. Parsons denied me based on ChexSystems so I requested a copy from them online. Only thing in my report are banks and credit unions where I've applied for new accounts offering highest CD rates only to find out AFTER applying they only want in-state or local new consumer accounts. I have a FICO score of 800+, no debt, no loans, own my home free and clear and I own a multi-million dollar company. Apparently if you apply for and are denied at any banks and credit unions only wanting local clientele you will find yourself being denied at other financial institutions like Parsons who use ChexSystems making you look like a high risk depositor, none of which is necessarily true. This shows the 'reach' of companies like ChexSystems and the inability of our banks and credit unions to properly interpret the data being collected on us. Many smart consumers are finding there are ways to get 4% or better on deposits (CDs) so we are abandoning the big banks. The process needs to be changed as to how this collected financial data is constricting and restricting consumer mobility in opening new accounts. Our banks and credit unions have become dinosaurs which can't even interpret the data they are consuming and it's time our miserable Congress do something about it. As with our healthcare system, our financial system is totally broken and needs a major over-haul today, not tomorrow.

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Health

Health Grade Components

Overall
NCUA #22141
Year Chartered1975
Employees25
Primary Regulator
Profit Margin
Return on Assets - YTD-0.53%
Return on Equity - YTD-6.76%
Annual Interest Income$7.3MM
Assets and Liabilities
AssetsQ4 2022vs Q4 2021$284.4MM$263.9MM
LoansQ4 2022vs Q4 2021$174.7MM$149.9MM
DepositsQ4 2022vs Q4 2021$261.4MM$231.7MM
Equity CapitalQ4 2022vs Q4 2021$21.5MM$28.5MM
Loan Loss AllowanceQ4 2022vs Q4 2021$675.00K$579.00K
Unbacked Noncurrent LoansQ4 2022vs Q4 2021$338.00K$191.00K
Real Estate OwnedQ4 2022vs Q4 2021$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Parsons 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.

Parsons Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%--IRA Account
0.25%--Health Savings Account (HSA)
0.10%$5-Regular Share Savings
0.10%--Holiday Club Account
0.10%$5-Business Savings
0.10%$5-Kid's Club Saving
0.10%$5-Young Adult Savings

Parsons Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%*$100k*-Money Market Savings Account
OTHER TIERS: 1.00% Up to $50k | 2.00% $50k - $100k
0.35%*$250k*-Business Money Market Savings
OTHER TIERS: 0.05% Up to $2.5k | 0.10% $2.5k - $10k | 0.20% $10k - $50k | 0.25% $50k - $100k | 0.30% $100k - $250k

Parsons Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%*-$15kKasasa Cash
OTHER TIERS: 0.08% $15k+
0.08%$100-Checking Account
0.08%$100-Business Checking

Parsons Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.10%$1k-6 Month Fixed Share Certificate
5.00%$1k-1 Year Fixed Share Certificate
4.80%$1k-2 Year Fixed Share Certificate
4.70%$1k-3 Year Fixed Share Certificate
4.25%$1k-5 Year Fixed Share Certificate

Parsons Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.10%$1k-6 Month Fixed IRA Certificate
5.00%$1k-1 Year Fixed IRA Certificate
4.90%$1k-18 Month Fixed IRA Certificate
4.80%$1k-2 Year Fixed IRA Certificate
4.70%$1k-3 Year Fixed IRA Certificate
4.25%$1k-5 Year Fixed IRA Certificate
Locations


Parsons Federal Credit Union Locations
Branch Office100 Walnut StPasadena, CA 91124-0001
Branch Office5875 Trinity Pkwy Ste 111Centreville, VA 20120-2475

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