CenLA FCU Field of Membership
CenLA Federal Credit Union was established as the Rapides School Employees Credit Union in 1963 which meant our charter was in line with accepting members that were employed by the Rapides Parish School Board. In 2004, our charter and name changed to reflect that although our focus remained with school employees, our Field of Membership expanded to include anyone that lives, works, worships or attends school in our designated parishes. This allowed others in our community to join CenLA Federal Credit Union and receive the benefits of membership.
What is a Credit Union?
Credit Unions are non-profit cooperative financial institutions. They were first formed in Europe by groups of people who could not afford to do business with banks. These groups of people, often sharing a common bond of similar interest or professions, pooled their resources to provide each other with cooperative financial services. Today a credit union’s common bond is its ‘field of membership’.
Member-owned
Unlike banks, credit unions are member-owned, nonprofit cooperatives. There are no stockholders.
Reasonable Rates
Organized to serve, democratically controlled credit unions provide their members with a safe place to save and borrow at reasonable rates.
Board of Directors
The credit union's Board of Directors is made up of volunteers elected from within the membership at an annual meeting.
Higher Dividends, Lower Services Charges
Highlighting the services of credit unions are higher dividends paid on savings, lower rates on loans, and low or no service charges on services provided.
No. 1 in Customer Satisfaction
Credit unions have received the No. 1 rating in customer satisfaction at financial institutions for 10 years according to the American Banker Newspaper's annual customer satisfaction survey.
Federally Insured by NCUA
Credit union deposits are federally insured, up to $250,000, by the National Credit Union Share Insurance Fund (NCUSIF), the strongest federal insurance fund. The fund in maintained by premiums paid by federal credit unions and is managed by the National Credit Union Administration (NCUA), an agency of the United States government.
Join Today!
