Helping other People Excel Federal Credit Union, formerly known as the Lakewood Community FCU which was founded in 1979, has been partnering with our members to achieve financial security and prosperity through financial education and competitively priced products.
Credit unions are financial institutions owned and controlled by the members that belong to them. Like banks, credit unions can offer a variety of services to their members such as, share drafts (like checking accounts), savings, and various types of loans, mortgages, home equity, and credit and ATM cards.
Unlike banks, credit unions are not-for-profit and all of their income is generated back to its members. Members pool their funds to make loans to each other and to fund the additional services provided by the credit union. A board of volunteers runs each credit union, and is elected by the members. The idea is one member, one vote. Members have the power to help decide the future of their individual credit union.
Credit unions are very stable. The federal government, like banks, ensures the safety of deposits and closely regulates credit unions. All deposits are insured up to $250,000.
Because our credit unions is member-owned and operated, we can provide very personal care to our members.