Charter Granted To Serve All Of Los Angeles County
L.A. Financial Credit Union has been approved for what is the largest federal community charter ever granted, after getting the OK to serve anyone who lives, worships, works in, or attends school in, and businesses and other legal entities located in Los Angeles County. The $300-million credit union, known until 2003 as Courts & Records FCU, currently serves 45,000 people. "A more flexible field of membership is an important step in our evolution as a community-based financial cooperative," said CEO Barbara Nall. "We have been serving Los Angeles County employees for over 67 years and have a strong bond with the community. In recent years, we've added over 500 local Select Employer Groups (SEGs) and completed a merger with a community credit union in Lake Havasu City, Arizona."