First City Credit Union

First City Credit Union Pledges up to $1 Million in Interest Free Loans to Those in FEMA Defined Fire Areas

Altadena, CA, January 16, 2025 – First City Credit Union is helping members and their families during the California Wildfire crisis by committing up to $1 million in interest free loans to those residing in the FEMA declared wildfire disaster areas through its Recovery Assistance Loan program with no payments for 60 days.  Additional programs include a discounted and streamlined approval process for their Wildfire Relief Loan up to $5,000, payment deferral options on existing First City loans, and discounted auto loan rates for those that need to replace a vehicle that was lost due to the wildfires. 

For more information about the programs or to apply for any of the Credit Union’s programs, please visit their Member Assistance page at https://www.firstcitycu.org/member-assistance.

“Due to the heroic effort of first responders, our corporate office in Altadena was spared from the devastation due to the fires.”  said Nav Khanna, President and Chief Executive Officer at First City Credit Union.   “I’ve seen the damage caused to our community with my own eyes and am saddened to know that our neighbors were not as fortunate.”  First City Credit Union was the only credit union with its corporate office under evacuation orders and under threat from the Eaton fire.  “I’m proud to say that even though we were running on generators due to power outages and evacuated from our corporate office, we never stopped serving our members and community.  Our branches stayed open and we did not experience disruption of any of our services.  The primary focus was keeping our employees safe, who in turn could take care of our members.”

In addition to the relief programs offered to members, First City continues to partner on local giveback and relief efforts through employee organizations and departments connected to the Select Employer Groups (SEG) the credit union serve.  “Our core membership comes from the employees of Los Angeles County Departments and Agencies, many of which are actively working non-stop to extinguish the fires, protecting our homes and businesses, and helping the community heal.”  said Royce Ngiam, Chief Marketing Officer at First City Credit Union responsible for SEG relations and partnerships.  “It’s heartwarming to see the grassroots efforts being spun up to help those in need, especially those led by LA County employee groups directly.  We’re a part of that work because we’re all Angelenos serving Angelenos.’

About First City Credit Union

Founded in 1937 as Los Angeles County Employees Number 11 Federal Credit Union, First City Credit Union (so named since 1985) provides a full suite of banking products and services to the employees of Los Angeles County Departments and Agencies.   With more than $900 million in assets, 56,000 members, and over 13% in capital, First City is among the nation’s strongest financial institutions. For more information visit firstcitycu.org.

First City Credit Union Helps Families with Inheritance Claims

In Partnership with Ribbon, First City Launching First-Ever Online Inheritance Portal

Pasadena, CA – January 13, 2025 – First City Credit Union has announced a new partnership with Ribbon that will help members and their families navigate the inheritance process. With this collaboration, First City becomes the first credit union in the United States to offer a fully self-serve online platform for families to initiate inheritance claims.

“Being there for our members and their families during an emotional and stressful time is part of why we exist,” said Nav Khanna, President and Chief Executive Officer at First City Credit Union. “With this new service, an often emotional and cumbersome process can be simplified. Our goal is to support the financial needs of our members’ families with empathy, and Ribbon helps us deliver on that promise.”

With Ribbon’s technology, credit union members and non-members alike can submit inheritance requests through First City’s website. Traditionally, financial institutions have provided only offline methods, which can take 6 to 18+ months. By integrating Ribbon’s platform, families no longer need to visit branches or call customer service to manage claims at a time when the family is grieving.

“Ribbon is thrilled to partner with First City Credit Union to bring modern, accessible solutions to an area that has long been overlooked,” said Saeid Kian, CEO of Ribbon. “This partnership sets a new standard for how financial institutions can support their members during life’s most challenging moments.”

During “The Great Wealth Transfer,” where trillions of dollars are expected to move from Baby Boomers to younger generations and charitable organizations, more forward-thinking approaches such as this are expected—services that offer a compassionate and efficient process for those navigating loss.