Newsweek places First City on its list of America's Best Credit Unions for the third year in a row, noting First City’s impact and commitment to delivering lower fees, competitive loan options, and member satisfaction.
The award, given by Newsweek and Plant-A Insights Group, recognizes companies that are committed to powering local economies by supporting small businesses, financing community projects, and providing reliable access to everyday financial services.
“Credit unions invest deeply in their communities,” says Nav Khanna, President and Chief Executive Officer at First City Credit Union. “First City is proud to serve those who serve - the employees of Los Angeles County whether they are first-responders, social workers, Sheriff's Deputies, or any of the Angelenos who keep our County running. We’re honored to receive this national acknowledgment for the third year in a row.”
Structured as member-owned cooperatives, credit unions operate with service as their guiding mission. That commitment often results in lower fees, competitive loan options and an emphasis on member satisfaction.
Says Jennifer Cunningham, Editor-in-Chief of Newsweek, “More than financial service providers, credit unions are community partners who help strengthen the connections that bind their members together.”
To determine America’s most trusted financial institutions, this study used the Texas Ratio (a measure of credit quality) as well as profitability, net loans and leases, press coverage over the past two years, an independent customer survey of more than 71,000 U.S. citizens, 1.9 million social media reviews and 129 million mobile app reviews. From the study, the top 500 credit unions and top 500 regional banks were chosen.
Learn more about First City's history.