Savings Accounts

Regular Share Savings

To establish your Los Angeles Federal Credit Union (LAFCU) membership you need to first open a Regular Share Savings account with the following:

Establish LAFCU Membership

  • $10 minimum opening deposit ($5 savings account deposit plus a one-time $5 LAFCU membership fee).
  • $10 LACA membership fee if you are eligible to join through the LOS ANGELES CHARITABLE ASSOCIATION (LACA).
  • A $50 balance must be maintained in this account after six months from the date you joined LAFCU or a monthly fee applies.

Other Account-Opening Requirements

  • Provide your California driver’s license or ID, Social Security Number, and information about income.
  • A “ChexSystems” and hard-hit on your credit will be run.
  • You or your immediate family member must be a resident of one of these Southern California counties: Los Angeles, Imperial, Kern, Orange, Riverside, San Bernardino, San Diego, San Luis Obispo, Santa Barbara, or Ventura.


  • Funds easily transferrable to other accounts
  • Earns competitive dividends
  • Deposits insured up to at least $250,000 per individual depositor by the National Credit Union Administration.
  • Other savings account options available


Money Market Accounts

We offer two Money Market options including a “Regular” account and an “Online Money Market” higher-rate account.* Both require a $2,500 minimum opening deposit with no term requirement, and retain the flexibility of a liquid savings account.

To open an Online Money Market account, visit online or mobile banking then click "Open an Account."

* To receive the Online Money Market account rate: (a) You must open and maintain a LAFCU Checking account and during each calendar month, the account must have a combination of any five (5) of the following debit (withdrawal) transactions: ATM, Automated Clearing House (ACH), Debit Card debit or POS, Bill Pay, or Share Draft Checks; (b) You must sign up and receive online monthly LAFCU Online Statements; (c) You can access this account at no charge online via online banking, TouchTel-24, and with personalized Money Market Checks, and if you need to visit a branch or call our staff for a transaction, you can do that too, for a minimal fee (search “Consumer Fee” in “How Can We Help You?”).  If you do not maintain the requirements, your Online Money Market account will be changed back to our Regular Money Market Account for the entire quarterly dividend period, unless you re-apply and qualify for the Online Money Market.

Holiday Account

Health Saving Accounts

Our Health Savings Accounts are designed to provide an additional source of funding for any future medical expenses not covered by your regular medical insurance. To be eligible, you must be under age of 65; covered by a high deductible health plan; not covered by another health insurance carrier or Medicare; and not claimed as a dependent by another individual. To open this account3 today, call us at (877) 695-2328, or visit a LAFCU branch.

IRAs & Share Certificates

Individual Retirement Accounts (IRAs)

These share certificates are available for Traditional, Roth & Coverdell Education savings accounts. Each pays competitive dividends and requires a $500 minimum opening deposit with fixed terms from 3 to 60 months. To open an IRA, call (877) 695-2328 or visit a LAFCU branch.

Roth IRAs

  • Contributions are taxed
  • Earnings & qualified withdrawals are tax-free
  • Penalty-free withdrawals begin at age 59½ if open 5+ years

Traditional IRAs

  • Offers potential tax deductions on contributions
  • Earnings are tax-deferred until withdrawn
  • Distributions generally begin at age 59 ½ (mandatory at age 70 ½)

Coverdell Education Savings Accounts

  • Offers tax benefits to help you pay for your children’s education expenses
  • Contribute up to $2,000 per year until the beneficiary is 18
  • Funds must be used by the time the beneficiary reaches 30

Share Certificates

Our share certificates offer high yields with flexible terms from 3 to 60 months. To open a share certificate, call (877) 695-2328 or visit a LAFCU branch.

Regular & Jumbo

  • Minimum deposits are $1,000 (Regular), or $100,000 (Jumbo)
  • Jumbos earn higher yields

Starter (if age 24 or under)

  • $100 minimum deposit
  • Additional deposits of $50+ are allowed until balance reaches $10,000

Senior & Senior Jumbo (if over 60)

  • Receive higher yields
  • Earns bonus dividend on Regular and Jumbo Certificate rates
  • Terms the same as Regular Certificates
  • Minimum deposit is $1,000 (Senior) or $100,000 (Senior Jumbo)