F&A Federal Credit Union
This article details everything you need to know about F&A Federal Credit Union including:
Charted Data Explaining How and Why Switching Can Save You Money
Brief Summary of F&A Credit Union:
F&A Credit Union was chartered in 1936 to provide superior financial services to Los Angeles County Forestry, Fire and Agriculture Department employees. Since its opening, F&A Federal Credit Union has grown to serve over 46,500 members and has also grown to holdings of $2 billion. F&A is federally insured by the National Credit Union Administration (NCUA) as well as federally chartered with a mission, “to ensure that our members receive caring and personal service along with exceptional value.”
This credit union receives an A+ rating for financial health with 2.08 Bill in Assets, 13.90 Net Worth Ratio, and over 223.11 Mill in total outstanding loans. With all of these interesting financial statistics, F&A FCU is considered a well capitalized financial institution.
See How and Why Switching Can Save you Money:
Credit Unions normally have great low-rate loans for their members due to the not for profit status. In order to make that point, let’s examine consumer loans for the “average american” versus loan products issued by the Credit Union for three credit score types with a variety of loan categories.
619 and lower FICO
(Used: 2016-2019), Personal Loans up to $250,000
Who is Eligible to Join F&A Credit Union?
F&A Federal Credit Union works to financially serve government employees of Los Angeles, in addition to current members’ immediate family members. Fafcu.org outlines their membership eligibility as employees of:
Los Angeles County Fire Department - active and retired
Office of the Farm Advisory
County of Los Angeles Agricultural Commissioner / Weights and Measures
Cooperative Agricultural Extension Program of the University of California
Los Angeles County Firefighters - Local 1014
Los Angeles County Lifeguards (as part of LA County Fire)
West San Gabriel Valley Consortium
Avalon City Professional Firefighters - Local 2295
The Hawthorne Police Officers Associations (Only uniformed members are eligible)
West Covina Police Officers' Association
Los Angeles County Fire Museum general members who are, or have been, employees or volunteers of any fire related agency located in the counties of Los Angeles, Ventura, Orange, Riverside, and San Bernardino
Additionally, F&A serves the following city government employees:
City of Industry
City of Inglewood
La Canada Flintridge
La Habra Heights
Palos Verdes Estates
Rancho Palos Verdes
Rolling Hills Estates
Santa Fe Springs
South El Monte
In order to join - potential applications must:
Start an application here
Open a regular share account
Accounts must be opened with an initial deposit of $5.00 of more
F&A will deposit the amount for you with your approved online application
In Depth Look at F&A Credit Union:
FAFCU has been known for providing members with a rewarding experience as they are heavily involved in the education of their members’ children. F&A created Money Mammals, which is a youth savings program that provides children of members with the following benefits:
A 6.18% APY2 on account balances up to $1,000 (and our regular share rate on balances $1,000.01 and over)
A FREE Money Mammals educational picture book or DVD
An F&A piggy bank
Ongoing access to The Money Mammals website and mobile apps
You can access Money Mammals here.
Another way FAFCU works to financially educate the next generation is by sponsoring BIZKID$. BIZKID$ is a very popular financial game and television series where kids can learn about financial planning and entrepreneurship. It is administered by the National Credit Union Foundation and sponsored by F&A Credit Union. Fun fact- this series won an Emmy Award!
F&A FCU has two locations, 102 employees and is headquartered in Monterey Park. They have grown to be the 27th largest credit union in California and number 178 when compared with credit unions across the nation for size.
FAFCU members are interesting because they have $0 in real estate, but their most popular accounts include 3, 4 and 5 year CD (certificate of deposit) accounts. CD accounts allow members to store some cash and earn a set amount of interest over a certain amount of time.
F&A offers a variety of services even extending to youth savings accounts, IRAs, and Holiday Savings Club accounts.
When taking a look at FAFCU fees, it is important to keep in mind that some credit unions often charge more fees than banks. Click here for a full list of F&A fees as of December 2019.
F&A has increased their technology to make the banking process smoother for their members. F&A provides:
Touch to pay technology
Automatic financial alerts
Samsung Pay and Google Pay
Pay your bills without writing checks!
You can sign up for these easy online services here.
F&A urges members to contact their offices as they claim that, “For them it’s business, for us it’s personal.” You can contact F&A Federal Credit Union online at their website www.fafcu.org or by phone at 888.222.1226. Click here to access branch location information and hours of operation. For an in-person visit and ATM services, F&A Credit Union currently has 2 branches located at:
13303 Hadley Street
Whittier, CA 90601
2625 Corporate Place
Monterey Park, CA 91754
Are you interested in saving money by choosing the right credit union and field of membership? You can also save big on refinancing your car loan.
WithClutch.com is a fully digital platform that lets new car owners like you lower their car payments from the comfort of their own home. No need to set a foot in a bank or credit union during the pandemic. You can lower your rate or get cash in as little as 20 seconds.
Follow three simple steps to refinance your auto loan, get approved in seconds and save thousands in minutes.