Business Spotlight
LBS Financial Credit Union
Updated November 19, 2020
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Proclamation presented July 28, 2016 to LBS Financial Credit Union at Cerritos City Council Chambers.
LBS Financial Credit Union (LBSFCU) was founded by local educators in 1935 and was originally called Long Beach School District Employees Federal Credit Union. Its mission was serving school and college employees in the Long Beach area with their banking needs. Throughout the years, LBSFCU began serving school districts in the surrounding areas and employees of local businesses.
ABC Unified School District in Cerritos was one of the original school districts served by the credit union. In July 1999, LBSFCU opened its first branch in Cerritos on the southeast corner of South Street and Gridley Road. Moving to Cerritos was a natural extension for the credit union with a strong member base of employees from the ABC Unified School District, Cerritos College and other local businesses that LBSFCU was already serving in the area.
In 2000, LBSFCU changed its charter and field of membership to enable further growth in the community. LBS Financial Credit Union became the new name and the credit union now serves everyone that lives or works in the local community, in addition to the local schools and colleges. In 2008, LBSFCU moved its original Cerritos branch to its current location on 183rd Street near Gridley Road, within the Plaza 183 shopping center. This new location added much-needed square footage to serve more members in the area.
Today, LBSFCU manages $1.2 billion in assets and serves more than 120,000 members locally. The credit union has six local branches, free mobile and online banking, 30,000 surcharge-free ATMs nationwide and more than 5,000 shared branches across the country. LBSFCU is about adding value to the neighborhood and focuses on providing competitive rates, low fees, convenient account access and excellent service. The credit union is a member-owned cooperative providing savings, checking, Visa® credit cards, money markets, certificates, IRAs and insurance and investment services. LBFCU also offers personal, vehicle, boat and home loans.
LBSFCU is an annual sponsor of the ABC “Into the Summer” Fun Run, in addition to other local events. The credit union provides scholarships to more than 30 schools annually and adopts a school within the ABC Unified School District each year to provide school supplies and support. Additionally, credit union employees donate hundreds of hours volunteering in the community each year. The credit union’s Senior Vice President of Marketing Heather Summers has been Treasurer of the Board for the ABC Education Foundation, raising money for ABC Unified School District, since the fall of 2012.
The Cerritos branch is located at 11239 183rd Street in Cerritos. Hours of operation are Monday through Friday, 9:30 a.m. to 6 p.m., and Saturday from 9 a.m. to 2 p.m. The Credit Union’s phone number is (562) 598-9007 and their website is lbsfcu.org. The Cerritos branch is managed by Vice President/Branch Manager Lupe Hernandez.
