Valex Federal Credit Union

CenLa Federal Credit Union, established in 1963, serves the financial needs of educators and those within the community in Central Louisiana's six parishes, including Rapides and Vernon. Offering competitive loan rates and a range of financial products, the credit union supports its members, emphasizing benefits for school employees and their families. Alongside personal and auto loans, CenLa FCU provides various accounts, including checking and savings options, ensuring members' savings are federally insured. The organization is committed to fostering financial well-being and awareness among its members through educational resources and tailored services. Generated from the website

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'. In 1909, the first credit union in the United States was established in Manchester, New Hampshire. Today, there are over 12, 000 credit unions with over $316 billion in assets serving 70 million people in the United States. Unlike banks, credit unions are member-owned, nonprofit cooperatives. There are no stockholders. Organized to serve, democratically controlled credit unions provide their members with a safe place to save and borrow at reasonable rates. The credit union's Board of Directors is made up of volunteers elected from within the membership at an annual meeting. 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. 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. 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.

Rapides Federal Credit Union, located in Alexandria, Louisiana, is dedicated to serving its members through a range of financial services, including loans, Visa cards, and insurance offerings. The credit union emphasizes the security of its systems, informing users that their activities may be monitored to ensure proper usage. Committed to providing accurate information, Rapides Federal Credit Union operates on an "as is" basis without warranties of any kind concerning the sufficiency and suitability of its offerings. The institution maintains an open line of communication for inquiries while advocating for the secure handling of sensitive information. Generated from the website