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As of 5-27-22

What's New

Read Inside LAFCU Newsletter

Read about new developments with your local credit union, as well as current promotions, in the latest LAFCU Member Newsletter.

READ NEWSLETTER

 

New "My Offers" Now Here

Always-On Pre-Approved Loans 

Starting in April, LAFCU will introduce the new "My Offers" program, a place in our LAFCU mobile app & online banking where you can view & redeem pre-approved loans or apply for one, when you want it, 24/7/365. Instead of waiting to get a mailed notification, your updated offers are now always available so you can choose when you are ready.

Now, with My Offers, there are three easy ways to get a loan:

Remember to visit My Offers in our mobile app or online banking anytime you are ready for a loan. This is another way LAFCU is becoming more "mobile first" to make accessing our services more convenient, and to enhance your member experience.  For more details, visit the My Offers page. 

ACCESS ONLINE BANKING


Fee-Free Home Loans

Until May 31, 2022, we are offering no-borrower fee loans for purchasing or refinancing your home. These no-fee loans are for adjustable rate mortgage (A.R.M.) first trust deed loans, which are fixed for the first 5, 7, 10 or 15 years before the rate becomes adjustable. We also offer loans that remain fixed for 15 or 30 years with low rates, but with fees. 

You could save over $1,200 PER YEAR in principal and interest payments, and over $2,800 in closing costs by selecting an A.R.M loan! *

APPLY NOW

* The two of $250,000 loans compared are: a 30 year loan with a fixed 3.25% Annual Percentage Rate (APR), monthly principal and interest payments at $1,088 and $2835 closing costs, versus a 10/1 Adjustable Rate Mortgage that is fixed for the first ten years the becomes adjustable, 2.50% APR loan, monthly principal and interest payments at $998 and no closing costs.


Access Your Equity at 1.85% APR*

Each transaction conducted on your Home Equity Line of Credit from 7/1/21 to 5/31/22 gets a 1.85% APR* for six months after the transaction. This offer is for existing or newly opened HELOCs.

APPLY OR REFI A HELOC

* APR = Annual Percentage Rate. The 1.85% APR is an introductory rate for transactions conducted the first six months after a new variable-rate Home Equity Line of Credit (HELOC) is opened after 7/1/21 at Los Angeles Federal Credit Union (LAFCU). For a HELOC opened prior to 7/1/21, each transaction conducted from 7/1/21 to 5/31/22 gets 1.85% APR for six (6) months from the date of that transaction. The HELOC program is for single family, owner-occupied residences. Loan-to-value is up to 90% based on a LAFCU appraisal minus any liens. Minimum loan amount is $5,000. Other conditions may apply; some restrictions may apply. Offer and rates are subject to change without notice. All loans are subject to normal credit-granting criteria. Payment example: when making minimum payments and taking no other credit advances, it takes 140 months to pay-off a $10,000 credit advance at 6.0% APR with monthly payments of $100, and total interest paid of $4,000. You must be a LAFCU member to obtain credit.