Los Angeles Federal Credit Union is led by a voluntary Board of Directors as opposed to a paid board of directors at a bank. Our volunteer officials are nominated and elected by and from the credit union membership. The board establishes the strategic plan of the credit union and oversees general operations on behalf of the members. These responsibilities include:
- Approving policies and programs that guide the credit union
- Planning for the current and future needs of members
- Ensuring the application of sound business practices
- Maintaining the financial stability of the credit union
Board of Directors
The Board is elected by the members, and each director serves for a three-year term. The Board meets monthly and is responsible for setting the direction for and controlling the credit union.
The Board hires a President/CEO to manage the day-to-day operation of the credit union, then the President/CEO oversees the hiring of professional staff. LAFCU’s executive team are leaders who have been in the credit union industry many years.
This committee, appointed by our Board, meets then audits or hires audit professionals to at least annually audit the books and records of LAFCU and to verify the accounts of the members.
This committee, appointed by our Board, is responsible for appointing loan officers, setting the limits of delegation, and reviewing appeals and a sample of loans not approved by loan officers.
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. If you'd like to attend, call (877) 695-2328 ext. 6309.View Annual Report
Board meeting minutes and financial statements are also available for members to review by contacting us. Financial statements are also posted in every branch.
Interested in volunteering and making a difference in the lives of your fellow members?
Learn about volunteering