I have received a number of questions recently regarding the significant amount of stock market volatility as well as questions as to how that may impact member’s funds in their LAFCU money market accounts as well as other accounts at the Credit Union.
(more…)

Last week’s economic news regarding the failures of large national brokerage firms and troubled banks has been on everyone’s mind resulting in confusion, anxiety and even fear. The U.S. government’s race to the rescue is unprecedented in its scope and questions remain as to what this action’s cost will be to the American taxpayer over time. The reasons underlying today’s challenges are many but certainly greed, loose financial oversight, federal regulators slow to recognize problems brewing in the mortgage markets, low interest rates that were held too low and for too long under the previous Fed Chairman and of course the financial wizards of wall street who devised ever more complicated and risky mortgage instruments are certainly at least partially to blame.

How do these events affect LAFCU today and into the future?
(more…)

There has been a significant amount of negative news lately regarding financial institutions, some of which may be facing difficulties because of the loan losses associated with the housing market. The financial pressures being faced by most Americans due to the higher gas prices and declining home values have added to the downturn of the state of the economy.
(more…)

In 1935, when credit unions were helping Americans through the Great Depression, the treasurer of a Midwestern credit union said that credit unions were “not for profit, not for charity, but for service,” and that philosophy holds true today.
(more…)

Los Angeles Firemen’s Credit Union is the trusted provider of premier financial services to our “Fire Family” and it is that Family that has inspired this blog. This is a place where members of the Fire Community - fire fighters, their families, and their supporters - can come together. This blog is for you, and about you. It’s yours.

So let us know what you think and tell us if there’s anything in particular you’d be interested in hearing from us. No guarantees but we’re happy to hear the suggestions.

Check back soon for new exciting content!