“Boost Your Savings” with a 5% APY* add-on certificate
LOS ANGELES, CA (August 15, 2023) — If you’re a member of Los Angeles Federal Credit Union (LAFCU), you can “Boost Your Savings” with a 5% APY* “Add-On” share savings certificate for a 5-month term. It can be opened starting 8/15/23 with a minimum deposit of $500 and a maximum of $1,000,000. During the term, you can add more funds to the certificate up to the total opening deposit. 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. To open a certificate, call us during business hours at (877) 695-2328 or visit a branch.
Anyone who lives in the Greater Los Angeles, California Metropolitan area can join LAFCU and take advantage of its financial services. For details, visit www.LAFCU.org, call (877) MY LAFCU (695-2328), or stop by one of their branches.
*APY = Annual Percentage Yield for this Share Savings Certificate (certificate) promotion. The certificate has a 5% APY, a dividend of 4.88%. and a term of 5 (five) consecutive months after it’s opened. The minimum opening deposit per certificate is $500 and the maximum is $1,000,000. Multiple Certificates can be opened if the opening balance of each one is between $500 to $1,000,000. 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 opening deposit, the total additional deposits can only equal $50,000 or less). This Certificate can only be opened at LAFCU starting 8/15/23. When this Certificate matures, it will automatically renew for another 5-month term at the rate in effect at maturity for our Regular 3 to 5-month Share Savings Certificate. This offer is subject to change or may be discontinued without notice. 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. 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.”
About LAFCU (CA)
LAFCU was founded in 1936 by 13 Los Angeles City Employees to give fellow employees a safe, low-cost, and convenient source to borrow and save money during the height of the Great Depression. 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 most counties of Southern California by establishing the Los Angeles Charitable Association, Inc. (LACA). LACA is a 501(c)3 nonprofit charity that donates and supports charities in the greater L.A. area that since 2006, has donated over $500,000 to those charities.
Now, 85 years after its initial deposit of $65, LAFCU manages $1.2 billion in assets, has 71,000 members, staffs seven branches, and its members can access a nationwide network of 30,000 CO-OP ATMs and 5,000 shared branches.
Anyone living in most counties of Southern California can join LAFCU and take advantage of its financial services. For details, visit www.LAFCU.org, call (877) MY LAFCU (695-2328), or visit a branch.
