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At Lafayette Federal, our service speaks for itself.
Explore the Lafayette Federal difference
Our people say the nicest things.
Lafayette Federal has been my trusted credit union for the last 34 years, providing for me while I served both overseas and here in the United States! You have helped me to plan for the future, finance mortgages, fund my business start-up, and save for retirement. Thanks for being my bedrock as I now look forward to enjoying this next phase of my life.
Brian B.Member for 34 Years
Your membership makes a difference.
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In 2022, we donated over$1M
to community organizations.
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Since 2020, we donated1,755
for COVID-19 frontline support.
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In 2022, we coached2,178
people on financial literacy topics.
Lafayette Federal vs. Banks
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Type of Organization
Type of Organization
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Who can join
Who can join
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Invested in
Invested in
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Deposits federally insured
Deposits federally insured
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Governance
Governance
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Interactions with like financial institutions
Interactions with like financial institutions
Lafayette Federal Credit Union
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Type of Organization
Not-for-profit – Fewer fees, better rates
As a not-for-profit financial cooperative, we return out profits to our members in the form of better rates, lower fees and greater service.
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Who can join
Members
Lafayette Federal’s membership is open to anyone we serve, including the family of eligible members.
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Invested in
Community Members
We serve the needs of our membership and community by investing our non-interest income and interest from loans in local organizations working to make a difference.
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Deposits federally insured
NCUA Insured ($250k)
Your deposits are insured by the National Credit Union Administration (NCUA) and are backed by the faith and credit of the United States Government.
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Governance
Member Owned
Each member can exercise their voting rights to fill seats on the Board of Directors. The directors advocate for membership.
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Interactions with like financial institutions
Cooperative
Credit Unions are financial cooperatives. That means we work together toward one common goal– helping our members prosper.
Banks
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Type of Organization
For-profit – More fees, worse rates
Traditional banking institutions primarily focus on generating profits for their shareholders with no added benefits to their customers.
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Who can join
Customers
You cannot join a bank, but anyone can be a customer.
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Invested in
Generating revenue
Banks use the income they generate from fees, interest, business accounts and investments to increase their shareholders’ earnings.
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Deposits federally insured
FDIC Insured ($250k)
At a bank, your deposits are insured by the Federal Deposit Insurance Corporation and are backed by the full faith of the United States Government.
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Governance
Stakeholder Owned
Banks are governed by their shareholders. Voting rights depend on the number of shares you own leaving regular customers out of decisions.
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Interactions with like financial institutions
Competitive
Banks are competitive. They compete with one another for your business and see you only as a number.
You are eligible if…
Residents of Potomac, MD
Persons who live or work in that part of Montgomery County, Maryland, known as Potomac, bounded on the south by the Potomac River from Riley’s Lock Road on the west to Cabin John Parkway on the east, on the east by Cabin John Parkway to the Capital Beltway 495 to Interstate 270, on the north by Shady Grove Road to State Route 28 to State Route 112, and on the west by State Route 112 and Seneca Road to River Road to Riley’s Lock Road to the Potomac River, excluding the military reservation known as the U. S. Navy Ship Research and Development Center, are eligible to join.
Select Residents of Washington, D.C.
Many individuals who live, work, worship or attend school in Washington, D.C. are eligible to become members. Our D.C. charter extends to individuals within certain geographic boundaries per the map below.
We extend our membership to all direct-hire individuals employed by or retired from our Select Employee Groups. Find out if your employer is one of our Select Employer Groups.
We extend eligibility to all members of the Home Ownership Financial Literacy Council (HOFLC). HOFLC is a non-profit corporation created to provide its members with the necessary tools to successfully navigate the path of home ownership. Whether you are a first-time home buyer, veteran, or refinancing your current home, HOFLC has the resources to help you make an informed decision. When you sign up, you get the power of information at your fingertips. With a one-time membership fee of $10, you’ll enjoy the following:
- Articles from reliable resources
- Calculators to help you plan to the penny
Persons who live in Maryland, Washington, D.C. or Virginia are eligible to open an account if they are an existing member or become a member of the American Consumer Council (ACC). The ACC was founded to ensure vital customer needs are met and protected through educating American consumers about the benefits of various products and services and acting as a voice for consumer advocacy and economic wellness in the United States. As an influential organization with more than 160,000 members nationwide, ACC applies marketplace pressure to ensure companies offer safe, reliable products and services that consumers can use, trust, and recommend to their family and friends.
We will take care of your ACC membership when you open your Lafayette Federal account — there’s no fee to you. Simply select “persons who live in Maryland, Washington, D.C. or Virginia” for your eligibility and you’ll have the added benefit of becoming a part of ACC. Learn more about the American Consumer Council.
We extend eligibility to all current members’ immediate family members. This includes: grandparents, parents, spouses, children (including foster and adopted), grandchildren and siblings. Un-remarried spouses of persons who died while employed by any of our eligible organizations are also eligible for membership.
This means that once you become a member, your family members automatically become eligible to join!
What you will need to apply…
You will need the following information in order to complete the application:
Eligibility
Check your eligibility to confirm that you’re in our field of membership.
Personal Identification
Have your government issued ID, driver’s license/State ID, or Passport with current address ready.
Your Address
Make sure to have your physical and mailing address on hand.
Your SSN & Date of Birth
We’ll also need other identifying information such as your Social Security Number and Date of Birth to verify your new account.
Ready to join Lafayette Federal?
Monday-Friday 8:30am – 4:00pm
Audio Response 24/7
301-929-7990
1-800-888-6560 (toll-free)