ROCKVILLE, Md., Nov. 18, 2021 (GLOBE NEWSWIRE) -- Lafayette Federal Credit Union has been named to America's Best Banks List 2022 by Newsweek. The publication recognizes the nation's leading banks and credit unions that provide the best overall value to members.
"To help you make sense of the new banking environment and find an institution that best suits your needs, Newsweek has partnered with LendingTree, the online marketplace and comparison site for financial services, for our annual Best Banks rankings," said Kerri Ann Renzulli, a Senior Reporter for Newsweek. "We assessed thousands of FDIC-insured banks and credit unions, and the savings and checking accounts they offer, based on more than 50 different factors to land on best-in-class options in 26 different categories."
Credit unions were included in the individual best bank account categories. Recognition criteria applied to credit unions included, but was not limited to: current interest rate, average interest rate over the previous year, minimum deposit needed to open an account, insufficient funds fees, overdraft protection, branch presence, and for CDs, the number of days of interest lost upon making an early withdrawal.
"I am extremely proud to be a part of Lafayette Federal's 85-year history and truly honored for the opportunity to celebrate its remarkable achievements, most notably over these past 12 months," says B. John Farmakides, President and CEO of the Lafayette FCU. "To earn this recognition, following our S&P Global Market Intelligence Top 100 ranking, marks a proud moment for our organization. These accolades would not be possible without the unwavering support of our members. I recognize that their loyalty is the key to our current and future success. Our member-focused, service-driven mission sets the standard by which we will continually strive to offer service excellence. We look forward to many more years serving our communities as a trusted financial partner."
About Lafayette FCU
Lafayette Federal Credit Union is a premier financial institution in the Washington, D.C. metropolitan area. Since 1935, Lafayette Federal has sought to provide members with a safe and convenient place to save, and to offer deposit and loan accounts at rates and terms more favorable than those of other financial institutions. With assets of over $1 billion and 40,000 members worldwide, Lafayette Federal operates eight full-service branch offices in the District of Columbia, Maryland, and Virginia and offers global access via the shared branch/ATM network and 24/7 electronic services. Our organization has been recognized by the S&P Global Market Intelligence Report as one of the top 100 credit unions nationwide, and now by Newsweek as one of America's best banks. To learn more about the Lafayette Federal Credit Union, reach out to us at (301) 929-7990, visit www.lfcu.org, or fill out a contact form here, and we'll reach out to you.
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