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27. Building a Better Pasadena: Member-Owned Pasadena FCU is Standing Strong

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Coop Name: Pasadena Federal Credit Union N° of Employees: 37
City: Pasadena N° of Members: 12000
Country: United States Year of formation: 1935
Website: http://www.pfcu.org Twitter: Link
Facebook: Link
About this coop:

In 1935, City of Pasadena, CA employees seeking a better place to save and borrow money formed Pasadena FCU. Our non-profit financial cooperative now serves more than 12,000 member-owners. Our volunteer Board of Directors is comprised of Police Officers, a librarian, a college dean, a former Girl Scout representative and community leaders. We serve many of the area’s non-profits and give members access to lower loan rates, higher savings rates and fewer fees. Taking the cooperative spirit further, we share locations with other credit unions so that our members have access to more than 4,000 branches nationwide and abroad and surcharge-free access to more than 28,000 ATMs. We provide financial literacy training to our community, allowing individuals to make better choices each day.

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In September 2010, Pasadena Federal Credit Union celebrated 75 years in our community with a 90 sq. ft. mural by Art Center College of Design alumnus Jerry Ortega titled Building Pasadena. It depicts our diversity and strength. City employees who wanted a better place to save and borrow money founded PFCU in 1935. We now serve more than 12,000 member-owners. As a non-profit financial cooperative, funds in excess of operating expenses go back to our members in the form of lower loan rates, higher savings rates and fewer fees. We are employees of four cities, engineers, artists, Girl Scouts, police officers, students, firefighters, construction workers, teachers, civic leaders, business owners, time bank participants and more. PFCU stands strong as the place to go for loans, savings and financial literacy.

PFCU has taught thousands of local Girl Scouts the value of saving a dime for every dollar by collaborating with children’s author Sam Renick and his loveable financial literacy character Sammy Rabbit. www.itsahabit.com. We have provided similar seminars for all age groups including community workshops for Union Station Homeless Services, reintegration workshops for parolees, financial literacy training at Art Center College of Design, Pasadena Humane Society, Options Head Start Program, Rosemary Children’s Services and numerous schools and community organizations. Our blog, www.pfcuandyou.com features helpful financial hints and highlights community events. Our Debt in Focus link provides confidential analysis and advice based on information each individual provides. Our financial calculators help members quickly determine loan payment amounts, interest paid over time, and even how long it will take to become a millionaire!

In 2011, readers of the Pasadena Star News, Los Angeles Times, San Gabriel Valley Tribune and Whittier Daily News all named Pasadena Federal Credit Union the Best Bank/Credit Union in the San Gabriel Valley. The reason is clear, we are true community partners and provide exemplary service our members routinely affirm in survey responses. By engaging with the members who own the credit union, we are able to make a tangible difference in their lives.

The credit union motto is “People helping people” and we take it very seriously. By helping the members of our community learn to make better choices each day, we help pave the way for a more vibrant economy for all of us.

Pasadena Federal Credit Union, Another Reason to Love Pasadena!

Author of this story
John Schaefer
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