Parsons Federal Credit Union is headquartered in Pasadena and is the 113th largest credit union in the state of California. It is also the 1,072nd largest credit union in the nation. It was established in 1975 and as of September of 2022, it had grown to 24 employees and 9,604 members at 2 locations. Parsons Federal Credit Union has a B+ health rating.
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
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.
I became a member of Parsons credit union a few months ago. I like the small and friendly feel of this credit union and member services is always polite and informed. I live in Altadena so I know of Pasadena's Parsons Corporation but I thought membership was limited to Parsons employees. Seems like now it's open to all which is a good thing. Anyway I called and opened my 13m CD a few days after the launch and everything went smoothly. However, in this day and age, it's just surprising that everything is done manually there and one has to call in to do anything rather than go on the web. I do recall the membership form was complicated and although I thought I did everything correctly the account was not opened automatically and member services called to confirm my identity and ask a number of questions before opening the account. If you are local, you have the option to visit a branch they have in the building which I have not yet done.
Great customer service when opening a CD on line including several phone calls but WOW! 3 weeks process! Way too much drama. I opened a CD at another online institution the next day in 1 hour including access to my account online without ever making a phone call
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.
|Return on Assets - YTD||-0.25%|
|Return on Equity - YTD||-3.01%|
|Annual Interest Income||$5.1MM|
|Assets and Liabilities|
|Assets||Q3 2022vs Q3 2021||$264.7MM$265.4MM|
|Loans||Q3 2022vs Q3 2021||$165.9MM$150.6MM|
|Deposits||Q3 2022vs Q3 2021||$231.6MM$233.0MM|
|Equity Capital||Q3 2022vs Q3 2021||$22.4MM$28.8MM|
|Loan Loss Allowance||Q3 2022vs Q3 2021||$611.00K$602.00K|
|Unbacked Noncurrent Loans||Q3 2022vs Q3 2021||$387.00K$235.00K|
|Real Estate Owned||Q3 2022vs Q3 2021||$0$0|
Rates for Parsons Federal Credit Union are currently being reviewed.
|Parsons Federal Credit Union Locations|
|Branch Office||100 Walnut St||Pasadena, CA 91124-0001|
|Branch Office||5875 Trinity Pkwy Ste 111||Centreville, VA 20120-2475|