About Us

What is a Credit Union?

Credit Unions are not-for-profit financial cooperatives serving members who share something in common; employment, association membership, or residence in a particular geographic area. More than 70 million U.S. consumers are member-owners of, and receive all or part of their financial services from the nation’s 6,620 credit unions.

Philosophy & Structure

Credit unions are democratically owned and controlled institutions based on ‘people helping people’ principles. Credit union boards of directors are elected by members; each member has a vote, regardless of how much he or she has on deposit. Only members may serve as directors, and directors serve without compensation. Credit unions have no outside stockholders, so after reserves are set aside, earnings are returned to members in the form of higher dividends on savings, lower loan rates and lower cost services.

RAFE FCU History

RAFE Federal Credit Union was founded in 1963 to service Riverside Area Federal Employees. SInce that time, our membership base has broadened so membership benefits are available to: Riverside County Attorneys, all Federal Employees, all Veterans and Family members, Tri-County Dentists and Family members, plus many more. We are a full service financial institution offering all the newest in technological advances.

Safety & Soundness

Credit unions primarily engage in consumer loans to their members. Credit union performance is at a historically high level. Deposits are insured up to $250,000.

Regulation & Supervision

Credit unions are chartered under either federal or state law. Federally chartered credit unions are regulated by the National Credit Union Administration (NCUA), an independent agency of  the U.S. Government. NCUA’s three board members are nominated by the President and confirmed by the Senate.

RAFE FCU Mission Statement

The mission of RAFE Federal Credit Union is to offer the widest array of financial services possible, in the most cost efficient manner to a broad and diverse membership while providing excellent customer service. Not for profit, not for charity, but for service.

Legislative Update

When legislation or brokers’ lawsuits attack any credit union, it’s an attack on all credit unions. Your Credit Union proudly protects members’ right to join and participate in their not-for-profit financial cooperative.

Benefits of Membership

Founded on the basic democratic premise of the cooperative movement, credit unions believe that access to low-cost financial services is critical to the health and stability of ordinary citizens.