Caltech Employees Federal Credit Union

If you’re considering opening an account, be aware that CEFCU does NOT offer debit cards, checks, or checking accounts, so it’s really not a feasible full-​service bank for most people. It only offers savings accounts, a credit card, and loans. The representative I spoke to helpfully said I can pay my bills by visiting a branch and having the branch issue a check for each bill, but who the heck wants the bother in this day and age? And no debit card… that’s just antiquated.
I’m really disappointed; I far prefer to bank with a local CU, especially with the Caltech affiliation, and have enjoyed really good customer service from CEFCU, but now I have to reconsider my membership because the services are so limited.

I have had an account here for many years. The savings interest rates are good compared to other banks and credit unions. They allow online banking, but unfortunately, they do not fully support the use of Quicken. When Quicken attempts to update the account, the site requests a Captcha code and sometimes additional credentials, which often causes the update to fail. For me, Quicken is a requirement so I may need to take my business elsewhere.

Their Interest rates are some of the highest. If you are eligible for membership, definitely do it while you can.

My father worked at JPL for 38 years, and I grew up in a house that was literally across a bridle trail from the west JPL parking lot. Based on years (decades) of experience with this credit union, it deserves a five-​star rating for every possible category. They are the best! Working online, over the phone, in person — best service imaginable. Even though I now live about 45 miles away, they still are my go-​to financial source. Great folks, great rates.

I’ve been a member of the Caltech Employees Federal Credit Union for almost 10 years now. (I joined at the end of 2004 or early 2005). Other than the La Canada office, there are also locations at JPL (Oak Grove Dr.) and Caltech (California Blvd) as well as several ATM locations.
Because of the exclusiveness of its memberships, they provide excellent service (in my opinion).
Only Employees and members of the following groups are eligible to join:
=======================================================
*Employees of the California Institute of Technology who work at the Campus, Jet Propulsion Laboratory (JPL), Mt. Wilson, Mt. Palomar;
*NASA employees at JPL
*Employees of the Henry R. Huntington Library and Botanical Gardens;
*Independent contractors and documented volunteers who have worked regularly for the Caltech Campus, JPL, or The Huntington;
*Registered graduate and undergraduate students of Caltech;
*Members of the Caltech Alumni Association;
*Employees of the Carnegie Institute of Washington located in Pasadena and Palomar;
*Employees of California Association for Research in Astronomy (CARA)
*The Associates of the California Institute of Technology
*Faculty, administration and students of the Polytechnic School
*Faculty, administration and students of the Child Educational Center (CEC)
*Immediate family of current members
Because I am a member of this credit union, my parents (as they are considered immediate family) were able to join as well.
When I bought my first car, I got my car loan from CEFCU. I remember my mom coming in with me to meet with the loan officer. (At this time, even Target rejected my credit card application because apparently, I didn’t make enough income. I was still going to school full time.)
CEFCU accepted my loan application and the interest rates were so low that I paid my car off in 3 years instead of 5! One of the best decisions I’ve ever made! My dad also got his car loan from here.
I am not an employee anymore, but I still get to keep my account which is awesome!
¹¹⁴⁄₁₀₀ Reviews for 2014

After 3 months I returned my credit card and closed the account. The people at the CEFCU are nice and try to help, but that’s about all. Their politics dictate a standard way of doing things, if you need anything different from that they not cooperative. I don’t like to got to the big banks, but I don’t see any alternative.

I’ve been do my banking at the Wilson branch across from Caltech for 15 years. I like their e-​money move feature on their webpage. It’s a great way to move money for FREE!!! between my banks.

Saved almost $ 70K here because it is easy to deposit and not too east to withdraw. They are closed on weekends. I know that if you want you can get an ATM card and use it at many different locations for free, but that is too much hassle figuring it all out. So I just saved. Without it I would be in debt, now I’m debt free with a FICO of 790. Woo Hoo!!!

if you can, just do it. I’ve been a member for 13 years…

3 cars
2 loans
and a share account with dear ol daddy.
He was the connection between me and Caltech.
At 20 I couldn’t get a loan for 5 bucks!
My dad cosigned for my first car loan and the rest is history.
Caltech is not just your ordinary bank. It’s actually not a bank at all. It’s a savings and loan. No checking.
This will most likely be the company I will trust to handle my home loan. They have been so wonderful with everything else I’ve purchased. The two remaining loans that I have are my own. On my own merits.
Thanks dad!