Industry Banking and Credit Founded 11 April 1950 Total assets 1.4 billion USD (2015) | Members 35,000 Type of business Credit Union | |
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Headquarters 528 Foothill Blvd La Canada CA 91011, United States Area served La Cañada Flintridge, California Key people Richard L. Harris (President and CEO)
John Patterson (Chairman, Board of Directors) Services Banking, credit, and loans | ||
Caltech Employees Federal Credit Union (CEFCU) is a Credit Union for the California Institute of Technology family and its affiliate organizations. CEFCU is headquartered in La Cañada Flintridge and is the 25th largest credit union in the state of California. It is also the 156th largest credit union in the nation. The union's savings rates are 73% higher than the national average.
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Overview
Caltech Employees Federal Credit Union was established on 11 April 1950 by seven employees of the California Institute of Technology. At present, it has over 35,000 members with assets above $1.4 billion. The services offered by CEFCU are youth savings accounts, real estate and vehicle loans, personal loans, credit card services and others.
Its membership is available to the entire Caltech population and members of their immediate families. The Credit Union makes personal loans at interest rates that usually exceed the interest rates available on short-term accounts at banks or savings institutions.
Caltech Employees Federal Credit Union offers its services across the over 30,000 ATMs of CO-OP Network. CEFCU also offers online access with eBranch. Its mobile app provides access to accounts to check balances, view transactions, make transfers and deposit checks. CEFCU recently welcomed Thomas F. Rosenbaum as Caltech’s 9th president. CEFCU sponsored TEDxCaltech 2013: The Brain—a one-day, multidisciplinary conference at the California Institute of Technology. CEFCU is also an annual sponsor of Caltech Y’s Act Award.
In 2016, the company announced their new Real Estate Loan Center. The office of the loan center will located at the corner of Foothill Blvd. and Commonwealth Avenue in La Canada Flintridge.
Leadership
Richard L. Harris is the President and CEO of CEFCU. In 2010, he was elected to serve as a Board Member at the National Association of Federal Credit Unions (NAFCU). He was elected as NAFCU’s board chairman on 15 June 2016.
Dlorah Gonzales served as the chairman of the Board of Directors until January 2012. She was the Director of Employment and Employee Services and managed employment and hiring functions. She was a recipient of Caltech’s prestigious Schmitt Prize in 2010.
Present Chairman of the Board of Directors of CEFCU is John Patterson. He is also a Senior Finance Analyst of the Public Finance and Investments for the Treasurer and Tax Collector of the Los Angeles County.