About LAFCU (CA)
LAFCU was founded in 1936 by 13 Los Angeles, California City Employees to give employees a safe, low-cost, and convenient source to borrow and save money. They gathered $65 to form the “Los Angeles City Employees Federal Credit Union.” In 1987, the name changed to Los Angeles Federal Credit Union to reflect a growing field of membership, which started to include immediate family members of City employees and individuals who lived in the same household as a current member. In 2006, LAFCU expanded its field again to include residents living in the Greater Los Angeles Metropolitan Area by establishing the Los Angeles Charitable Association, Inc. (LACA). LACA is a 501(c)3 nonprofit charity that has donated over $700,000 to other charities. Today, LAFCU manages $1.3 billion in assets, has 76,000 members, staffs eight branches, and its members can access a nationwide network of 30,000 CO-OP ATMs and 5,000 shared branches. Their many benefits include high savings rates, low loan rates (vehicle, personal, mortgage & credit cards) free checking, free mobile app, 24/7 virtual assistant, Relationship Rewards accounts, financial advice, investment services, and business accounts. To join LAFCU and enjoy its financial services, visit www.LAFCU.org, call (877) MY LAFCU (695-2328), or visit a branch.
About APY
*APY = Annual Percentage Yield for this Share Savings Certificate (certificate) promotion. The certificate has a 4.88% APY, a dividend of 4.765% and a term of 8 (eight) consecutive months after it’s opened. The minimum opening deposit per certificate is $500 and the maximum is $5,888,888. Multiple Certificates can be opened if the opening balance of each one is between $500 to $5,888,888. Additional funds can be deposited into the certificate after it’s opened, and the maximum additional funds are equal to the opening deposit (for example, if a certificate is opened with a $50,000 deposit, the total additional deposits can only equal $50,000 or less). This Certificate can only be opened at LAFCU starting 8/8/24. The actual APY will be calculated to three decimal points. The funds for the certificate must be “new money only,” meaning the funds must be deposited in your LAFCU account within 30 days prior to the date you open the certificate. When this Certificate matures, it will automatically renew for another 8-month term at the rate in effect at maturity for our Regular 6 to 11-month Share Savings Certificate. This offer is subject to change or may be discontinued without notice. Only LAFCU members have access to our services, including Certificates. For more details, search “Master Disclosures” on our website & read the section “Terms & Conditions Applicable to Share Certificate Accounts.”