Los Angeles Federal Credit (LAFCU) is a not-for-profit, member-owned, financial institution that is run by a voluntary Board of Directors elected by its members. Each board member is a LAFCU member who works very hard on behalf of all members. They attend monthly meetings and provide general direction and control of your credit union. As a LAFCU member, you have an equal say with all other members to vote for our directors and also attend our Annual Meeting to give your input.
Board of Directors
The Board of Directors is elected by the members and each director serves for a three year term. The Board is responsible for setting the direction for and controlling the credit union.
Board nominations are made either by a nominating committee that is appointed by the board chairperson, or by petition. LAFCU members interested in being considered for nomination can send a resume of qualifications to our nominating committee c/o LAFCU's President/CEO. Individuals not nominated who wish to run for a position may call the office of LAFCU's President/CEO (telephone ext. 6309) and ask for a petition. The petitioner will need to secure a minimum of 500 LAFCU member signatures with the petition. Original completed petitions must be returned to LAFCU's President/CEO.
This committee, appointed by our Board, is responsible for appointing loan officers, setting the limits of delegation, and acting on loans not approved by loan officers. Members interested in serving on this committee must send a letter of application and information concerning any related experience to LAFCU, Attention: President/CEO. Letters of application remain on file for two years for consideration in the event of a vacancy.
This committee, appointed by our Board, is responsible to meet and audit or hire audit professionals to at least annually audit the books and records of the credit union and to verify the accounts of the members. Members interested in serving on this committee must send a letter of application and information concerning any related experience to LAFCU, Attention: President/CEO. Letters of application remain on file for two years for consideration in the event of a vacancy.
The Board of Directors hires a President/CEO to manage the day-to-day affairs of the credit union. The President/CEO then hires the professional staff. LAFCU’s executive team are leaders who have been in the credit union industry an average of 20 years each: John T. Dea, President/CEO; Anthony Cuevas,Senior Vice President/COO; Richard Lie,Senior Vice President/CFO
The Annual Meeting of members is held on the fourth Tuesday of March at 5:30pm. All members are welcome to attend and meet the leadership of LAFCU and receive the Annual Report. The meeting is held at our LA Mall Branch at 201 South Los Angeles Street, Space 201, in downtown Los Angeles.
The Board meets monthly, normally on the third Thursday, to evaluate the prior month’s results and to consider future programs and policy changes in an ongoing effort to improve the credit union. Members may request to attend these meetings and requests are considered based on space and time constraints. To request attendance, contact us at least 10 days prior to the meeting by calling extension 6309.
Board meeting minutes and financial statements are also available for members to review by contacting us. Financial statements are also posted in every branch.
To contact our leadership directly, call (877) 695-2328 ext. 6446 or e-Mail:
President-CEO@lafcu.org or BoardofDirectors@lafcu.org