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Farmers Insurance Federal Credit Union

From Alfawiki
Adapted from the English Wikipedia article Farmers Insurance Federal Credit Union, available under CC BY-SA 4.0Updated 8 August 2025
Farmers Insurance Federal Credit Union
Company typeNonprofit financial cooperative
IndustryFinancial services
Founded1936
Headquarters
Burbank
,
United States
Area served
Nationwide
Key people
Mirella Reznic (CEO), Harland Bengs (CFO), Brian Leonard (Chief Lending Officer), Sean O’Reilly (Chief Technology Officer), Kathy Chicas (Chief People Officer), Myrto Koimtzoglou (Chief Operations Officer)
ProductsChecking accounts, savings accounts, certificates of deposit, personal loans, mortgages, home equity loans, auto loans, credit cards, digital banking platform Tulee, financial education and planning services
Websitewww.figfcu.org

Farmers Insurance Federal Credit Union (FIGFCU) is a member-owned, nonprofit financial cooperative based in Burbank, California. Established in 1936, FIGFCU channels its earnings back to members by offering superior interest rates on savings and checking accounts, competitive loan and credit card pricing, along with customized service typically unavailable at traditional banks.

Serving a membership exceeding 62,000 individuals, FIGFCU grants access to an extensive nationwide network of surcharge-free ATMs and shared branch locations. Members also benefit from exclusive discounts through affiliated partners and a variety of financial wellness tools designed to help achieve their monetary objectives.

Mission

Empowering members to achieve optimal financial well-being.

History

Originating nearly nine decades ago during the Great Depression to support Farmers Insurance personnel and agents, FIGFCU provided a reliable banking alternative emphasizing personalized service and member-focused financial solutions. Over the years, it broadened its offerings and extended membership eligibility beyond the Farmers community to include qualified individuals across the country. This expansion underscores FIGFCU’s dedication to inclusivity, financial empowerment, and outstanding member service.

Membership  

Membership at FIGFCU is available to all.

Eligible individuals include:

  • Employees, agents, and retirees associated with Farmers Insurance.
  • Family members of current FIGFCU members  
  • Others may join through the American Consumer Council (ACC), a nonprofit organization dedicated to consumer education and advocacy that offers free membership.

Products and services

FIGFCU delivers a wide array of financial products and solutions:

  • Deposit Accounts: Options include checking accounts, savings accounts, and Certificates of Deposit.
  • Loans: Offerings encompass home equity loans, personal loans, mortgages (as an authorized Fannie Mae lender), auto loans, commercial real estate financing, specialized assistance loans, and credit cards.
  • Digital Banking: Tulee, the credit union’s digital platform, enables members to manage their finances by transferring funds, paying bills, depositing checks remotely, opening new accounts, monitoring credit scores, and more via desktop or mobile devices.
  • Farmers Agent Products: Specifically designed for Farmers Insurance agents, these include Folio Direct Deposit, Premium Trust Accounts, Tax Saver Accounts, SEP IRAs, Secured Loans and Lines of Credit, Business Loans, Agency Acquisition Loans, Commercial Real Estate Loans, and Preferred Agent Mortgage Loans. Agents may utilize their Contract Value (CV) as qualification criteria for select lending products.
  • Member Education: Central to FIGFCU’s mission is promoting financial literacy through:
    • Financial Wellness Check: Assists members in efficient wealth building while avoiding costly errors.
    • Education Center: Interactive web-based courses covering budgeting techniques, credit enhancement strategies, family financial communication, among other topics.
    • Financial Counselors: Certified professionals providing tailored financial advice.
    • Youth Financial Clubs: Complimentary educational materials and newsletters encouraging sound money habits among young members.
  • Member Services: Features member-exclusive discounts on home purchasing/selling assistance, tax preparation services, estate planning guidance, and prescription savings.  
  • Financial Planning: Provides access to retirement savings options such as IRAs alongside resources aimed at supporting long-term fiscal objectives.

Locations

FIGFCU operates seven branch offices across Arizona, California, Kansas, Michigan, Oklahoma, and Texas, while extending services to members throughout the country. It is part of the Velera network, granting access to more than 30,000 surcharge-free ATMs and upwards of 5,000 shared branch locations nationwide.

Shared branches

Through its nationwide shared branching partnerships, FIGFCU members can perform transactions such as deposits, withdrawals, loan payments, and transfers at various sites, including:

Governance

FIGFCU is a federally chartered credit union overseen by the National Credit Union Administration (NCUA). Its leadership is guided by a volunteer Board of Directors elected by the membership to ensure decisions align with member priorities.

Leadership Team

  • Mirella Reznic, Chief Executive Officer
  • Harland Bengs, Chief Financial Officer
  • Brian Leonard, Chief Lending Officer
  • Sean O’Reilly, Chief Technology Officer
  • Kathy Chicas, Chief People Officer
  • Myrto Koimtzoglou, Chief Operations Officer

Board of Directors

  • Rudy Trevino, Chair
  • Lewis Williams, Vice Chair
  • Marilyn Huntamer, Secretary and Treasurer
  • Linda Sanazaro, Director
  • Mike Ashe, Director
  • Mary Barnard, Director
  • Carl Hackling, Director
  • Rob Ratkovich, Director
  • Mark Toohey, Director
  • Michelle Spellerberg, Director

Supervisory Committee

  • Derek Ferrendelli, Chair
  • Vahe Ghookassian
  • Mary Monesi

Community involvement

Dedicated to promoting financial literacy and community engagement, FIGFCU provides webinars and in-person training sessions tailored for employees and college students. The credit union supports charitable programs such as Toys for Tots and seasonal food drives. Additionally, it collaborates with The RightWay Foundation to enhance financial education for foster youth transitioning into adulthood. As a Fannie Mae-approved lender, FIGFCU contributes to expanding affordable housing opportunities nationwide.

Recognition and growth

With a membership exceeding 63,000 and assets surpassing $1.5 billion, FIGFCU has been acknowledged for its strong financial performance and exceptional member service. It was recognized in Newsweek's "Best Regional Banks and Credit Unions 2024" list and holds a Net Promoter Score of 80%, ranking among the highest within the financial sector.

News and updates

FIGFCU recently completed the acquisition of Community Mortgage Funding (CMF), broadening its home loan portfolio. CMF's operations are now fully integrated into FIGFCU’s services, offering members enhanced lending capabilities and resources.

External links

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