Pasadena Service Federal Credit Union Celebrates 80 Years of Service Tuesday

“As a credit union in a world where you have large commercial banks that are getting even larger and more impersonal, the way we survive is providing a level of personalized service that others can’t,” said Pasadena Services Federal Credit Union CEO Ken Landis at the Tuesday event marking the institutions eighth decade.

PSFCU was founded in 1936 and served the faculty and staff from the PUSD and PCC during a historical economic hardship. It has since evolved into a community chartered financial institution that serves the region with continuous growth.

Notable guests at the ceremony included Board Chairman Bill Hyland, Supervisory Committee Chairman Abe Rasheed, City of El Monte Mayor Pro Tem Victoria Martinez, Pasadena Chamber of Commerce President and CEO Paul Little and spokespeople from Congresswoman Judy Chu and Assemblymember Chris Holden’s offices.

“Today’s about recognizing our contribution to the community and our relationship with the community. Our roots began in the Pasadena Unified School District and Pasadena City College, but today we are so much more. We have expanded to the entire San Gabriel Valley area from Glendale to Covina,” said Pasadena Services Federal Credit Union VP of Marketing Andy Tien.

PSFCU belongs to a shared branching community of over 6,500 branches which means that their members can go to other branches that are apart of the network and do their banking at other locations. The network also includes over 30,000 available ATM’s and in 2009 acquired Vernon Commerce Credit Union making it a division of PSFCU.

“With resources like this, we actually exceed the branch count of large commercial banks like Bank of America and Chase. This is an enormous advantage that provides us the ability to reach out to our membership,” said Landis.

Eight decades as a banking fabric of the Pasadena community has allowed PSFCU to extend its services to people and youth who need it most.

PSCFU is a part of a program at Eliot Middle School that provides financial literacy for sixth and seventh graders in addition to plans of opening a student-run branch at John Muir High School in 2017.

“We are committed to serving the community not just with financial needs, but we have a large stake in providing financial literacy to employees and to the underserved. We realize that our origins were from modest means and want to continue to honor that and so what we can to help people,” said Landis.

PSFCU is a not-for-profit financial cooperative that does not issue stock or pay dividends to outside stockholders. earnings are returned to members in the form of lower loan rates, higher interest on deposits, and lower fees, according to the website.

“We are looking forward to expanding our business and continuing our mission,” said Landis.

For more information about Pasadena Services Federal Credit Union and to learn more about how to become a member, visit http://www.mypsfcu.org.