About Lafayette Federal
We’re here to serve you.
We serve, support, and empower our members by understanding their financial needs, delivering products and services to achieve their financial goals and offering solutions to assure their financial well-being.
Our Story
Since our founding in 1935, we have sought to provide our members with a safe and convenient place to save, and to offer loans at rates and terms more favorable than those of other financial institutions. We also work hard to provide top-notch service to our members around the world.
Throughout the years, the kinds of financial services that we offer have changed to keep pace with the changing needs of our growing and diverse membership. If you’re interested in a financial service that we don’t currently offer, please let us know. Listening to member needs, and responding accordingly, has made us the trusted financial institution that we are today.
October 3, 1935
The credit union opens its doors and begins offering personal loans.
The minimum loan is $10; the maximum, $50.
1939
The credit union begins offering new vehicle loans.
1941
Lafayette Federal begins selling U.S. Savings Bonds.
1947
The limit on total deposits in share accounts is $1,000.
1950
Lafayette Federal has 960 members.
1951
Total loans outstanding at Lafayette Federal is $129,000.
1960
Lafayette Federal assets reach nearly $2 million.
1961
Lafayette Federal moves its main office to the U.S. Department of State Building
1970
National Credit Union Administration is established.
The administration is created to supervise and regulate credit unions by adopting a “once a member, always a member” policy.
1974
Lafayette Federal has $10 million in assets and 7,600 members.
1980
Lafayette Federal begins offering share draft (checking) accounts.
1988
Lafayette Federal begins offering first trust mortgage loans.
1989
Lafayette Federal moves its headquarters to Kensington, MD.
1992
Lafayette Federal merges with Potomac Community Federal Credit Union.
The Credit Union also introduces a telephone bill payer program.
1995
The Lafayette Federal Credit Union website is unveiled.
The Personal Branch online financial services system becomes available to members.
2004
Lafayette Federal forms Potomac Business Services, LLC.
We join forces with three other credit unions to provide commercial loans.
2008
Lafayette Federal hosts the inaugural Capitol Classic Charity Golf Tournament.
2009
Business Accounts and Relationship Checking programs are introduced at Lafayette Federal.
2010
Lafayette Federal celebrates its 75th anniversary.
2011
Lafayette Federal’s field of membership grows through the American Consumer Council (ACC).
Montgomery County, MD is added to Lafayette Federal’s field of membership.
2012
Lafayette Federal’s field of membership grows yet again through the American Consumer Council (ACC).
All residents of Washington, D.C., Maryland and Virginia are added to our field of membership.
2016
Lafayette Federal Credit Union merges with CSC Employees Federal Credit Union.
2017
Lafayette Federal moves its headquarters to Rockville, MD.
2018
The headquarters building is officially named the Norman Cohen Building.
2020
Lafayette Federal celebrates over 85 years of serving 27,000+ members worldwide.
2020
Lafayette Federal ranks #20 in S&P Global’s Top 100 Performing Credit Unions of 2020.
March 31, 2021
Lafayette Federal reaches $1 billion in assets.
2021
Lafayette Federal moves up in the rankings.
Our Credit Union secures the #12 spot in S&P Global’s Top 100 Performing Credit Unions of 2021.
2021
Lafayette Federal raises an all-time high in charitable donations.
We raised a record-setting high of $76,000 for Children’s Miracle Network, and have provided more than $1 million in total charitable donations.
2022
Lafayette Federal receives increased national recognition.
- Newsweek’s America’s Best Banks List
- 5-star rating from Bauer Financial
- Ranked #12 in S&P Global’s Top 100 Performing Credit Unions of 2022
October 11, 2023
Lafayette Federal hosts grand opening for its new McLean Financial Service Center
The McLean Financial Service Center is relocated to a new, renovated building at 6890 Elm Street, McLean, VA 22101
Member-Owned, Not-for-Profit
You’re a member AND an owner at Lafayette Federal. We treat our members as unique individuals with specific needs and financial goals. We are member-owned, not-for-profit, and community-minded. Every decision made, every new product and service introduced, is based on what is best for our community. As a not-for-profit organization, we return excess funds to our members as increased dividends, reduced loan interest, as well as products and service enhancements.
|
September 30, 2024 |
Amount |
|---|---|
|
September 30, 2024 Total Assets |
Amount $2,049,558,369 |
|
September 30, 2024 Total Shares |
Amount $1,762,750,956 |
|
September 30, 2024 Total Loans |
Amount $1,609,827,566 |
|
September 30, 2024 Reserves |
Amount $225,707,920 |
|
September 30, 2024 Net Income |
Amount $415,131 |
Download the latest Membership Report.
Download the latest Annual Report.
Ready to join Lafayette Federal?
Open an account and enjoy all the benefits of membership with one of the most recognized credit unions in the nation.
Monday-Friday 8:30am – 4:00pm
Audio Response 24/7
301-929-7990
1-800-888-6560 (toll-free)