Van Nuys, CA - The Pacoima Development Federal Credit Union, a project of VEDC, will celebrate the opening of its Lakeview Terrace branch office on Saturday, February 25 from 10:00 a.m. to 1:00 p.m. at 11954 Foothill Blvd in Lakeview Terrace. L.A. City Councilman Alex Padilla and U.S. Congressman Brad Sherman will be on hand for the program beginning at 11:30 a.m.  

Congressman Sherman, a long time advocate of the credit union, says of the opening, “Pacoima for too long went without a financial institution to serve the needs of the community.  The people of Pacoima deserve fair and reliable financial services provided by an organization that truly is making a difference in the lives of Valley residents.  I am pleased that the Pacoima Development Federal Credit Union has opened a branch in Lakeview Terrace.”

The credit union, opened in response to the needs of over 200,000 area residents long preyed on by fringe financial institutions, currently boasts 130 members and over $2 million in deposits. Deposits that have already helped to fund one of the credit union’s premier products; used care loans, which, to date, total over $100,000 at an interest rate well below that charged by local car dealerships.

In addition to auto loans, the PDFCU currently offers regular share savings accounts, certificates of deposits, money orders, cashiers checks, direct deposit, free check cashing and wire transfers. Credit union membership is available to those who live, work, worship, go to school or own a business in the Northeast San Fernando Valley as well as Pacoima Chamber of Commerce and VICA members. Construction on the credit union’s main office building is ongoing, with a grand opening expected sometime later this year.