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Lafayette Credit Union

Overview
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Lafayette Credit Union is a federal credit union based in Rockville, Maryland. It has been opened since 1935, for 85 years.

With around $558,790,000 in assets, Lafayette Credit Union is considered to be a very large credit union. It has 10 branches and 10 ATM locations.

About
Address 2701 Tower Oaks Boulevard
Rockville, Maryland 20852
Website http://www.lfcu.org
Phone (301) 929-7990
CEO John Farmakides
President of the Board Nathan ' Gus' Siekierka
Services Offered
Map
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Score Card
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85 years
Years in business
Opened in 1935
Well Capitalized
Net worth classification
Source: NCUA
20,604 members
Membership type: Multiple common bond – primary federal, state, local government
Above average number of members
192:1
Credit union member to staff ratio
192 per each FTE employee
Compared to 411:1 nationally
Tons of staff!
$558,788,841
Total assets
Above average
10 branches
Compared with an average of 4 nationally and 3 in Maryland
Above average number of branches
0.10%
Savings interest rate
Compared to 0.3% nationally
8.00%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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10 branches
Compared with an average of 4 nationally and 3 in Maryland
Above average number of branches
Lafayette Credit Union Branch Locations

Lafayette Credit Union: Sba Financial Service Center
409 3rd Street SW Suite 105
Suite 105
Washington, District of Columbia 20024
ATM Available
Lafayette Credit Union: Mclean Branch
6701 Lowell Avenue
Mclean, Virginia 22101
ATM Available
Lafayette Credit Union: Kensington Financial Service Center
3535 University Boulevard W.
Kensington, Maryland 20895
ATM Available
Lafayette Credit Union: Jack Welty Financial Service Center
Room C. 1-80
1300 Pennsylvania Avenue, NW
Washington, District of Columbia 20523
ATM Available
Lafayette Credit Union: Falls Church Service Center
3141 Fairview Park Drive
Suite 107
Falls Church, Virginia 22042
ATM Available
Lafayette Credit Union: Norman Cohen Financial Service Center
2701 Tower Oaks Boulevard
Rockville, Maryland 20852
ATM Available
Lafayette Credit Union: Crystal City Financial Service Center
2231 Crystal Drive Suiyte R150
Arlington, Virginia 22202
ATM Available
Lafayette Credit Union: Tower Oaks Financial Service Center
2701 Tower Oaks Boulevard
Rockville, Maryland 20852
ATM Available
Members
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20,604 members
Membership type: Multiple common bond – primary federal, state, local government
Above average number of members

With 20,604 members, the Lafayette Credit Union is considered to be a very large credit union. It is among the largest of credit unions and is larger than 82% of credit unions.

Fees
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$175
Average fee per member
The average fee per member at the Lafayette Credit Union is $175, which is very high compared to most credit unions. This rate is higher than 98% of all credit unions.
Fees are higher than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Lafayette Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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192:1
Credit union member to staff ratio
192 per each FTE employee
Compared to 411:1 nationally
Tons of staff!
108 staff members
FTE (full-time equivalent)
8% of employees are part-time
103 full-time, 9 part-time

Lafayette Credit Union has 103 full-time staff members and 9 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 92% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Lafayette Credit Union has around 192 members per staff, a very low ratio compared to other credit unions. This is a very well staffed credit union.

Assets
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$558,788,841
Total assets
Above average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
8.6%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$40,787
Average loan and lease size
Loan & lease sizes are big! They are bigger than at 99% of credit unions.

Lafayette Credit Union holds a total of $492,100,000 in loans and leases, which is about $40,787 per member on average.

Savings interest rate
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0.10%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Lafayette Credit Union pays 0.10%.

Loan rates
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8.00%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
14.00%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
8.00%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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3.00%
New car loan rate
Compared to 4.0% nationally
4.00%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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5.50%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.25%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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