Overview of KPEFCU
KPEFCU received its charter in 1949 and is one of 55 credit unions based in the state of Oregon. Originally, the credit union was known as Klamath Falls United States Employees and its field of membership was just employees of the Federal Government. It’s field of membership has since expanded. Though Oregon is one of the smaller states in the country, credit unions in Oregon have a combined 2.1 million members and $36 billion of assets as of December 2021. Overall, the state is the 20th most popular state in the country for credit unions. KPEFCU is the 42nd largest credit union in the state (ranked by its total assets), has 1 branch and employs a total of 11 employees.
Who Can Join KPEFCU
Anyone that lives, works, worships, or attends school in Klamath or Lake County, Oregon is eligible to join KPEFCU. In addition, members of the immediate family or household of KPEFCU members are also eligible to join the credit union.
What Credit Unions Does KPEFCU Compete With?
The credit union’s closest competitor is Pacific Crest Federal Credit Union, which is also located in Klamath Falls. Pacific Crest Federal Credit Union is however much larger with 18,647 members and $260 million of assets and has broader eligibility than KPEFCU as anyone that lives, works, worships or attends school in any of these counties is eligible to join: Klamath, Lake, Modoc and Northeast Siskiyou. The credit union also competes with the two largest credit unions in Oregon: OnPoint Community Credit Union and Oregon Community Credit Union (OCCU).
- OnPoint Community Credit Union is the largest credit union in Oregon by both assets and members. It had 464,835 members and over $9 billion of assets as of December 2021. Membership is open to anyone that lives in any of the 28 counties the credit union serves in Oregon, including Klamath County.
- OCCU is the second largest credit union in Oregon by both assets and members. It had 227,973 members and over $2.8 billion of assets as of December 2021. Membership is open to anyone that lives in 28 counties in Oregon including Klamath County.
Product and Services Overview
KPEFCU has the typical financial services offerings you’d expect from a small-sized credit union including but not limited to the following:
- Savings Accounts – the credit union offers two types of savings accounts. The standard savings account requires just $5.00 to open and has no monthly service fee. The Preferred Fund Account is a higher dividend account that kicks in once account holders have balances that exceed $2,500. Dividends are paid monthly.
- Checking Accounts – the standard checking account offering requires $20 to open and the monthly service fee is waived if a balance of $1,000 is maintained.
- Mortgages – while KPEFCU offers its members mortgage loans, it does so through CU Members Mortgage, as opposed to offering it directly. CU Members Mortgage claims that they service the vast majority of the mortgages that they originate.
- Personal Loans – KPEFCU offers auto loans, recreational vehicle loans and personal loans including signature loans, lines of credit and overdraft protection loans.
- Credit Cards – the credit union offers a Classic VISA or Platinum VISA. The Classic VISA has an annual fee of $10 and cardholders can earn UChoose Rewards. The Platinum VISA has no annual fee and has an APR that can be as low as 8.99%.
- Insurance – through a partnership with CUNA Mutual Tru-Stage insurance, KPEFCU offers its members insurance products. These include home, auto, life and accidental death insurance products.
KPEFCU Contact and Other Helpful Information
- KPEFCU Routing Number: 323274678
- Website: http://www.kpefcu.com
- Charter Number: 6176
- Charter Year: 1949
- Employees: 11
- Financial Information
- Total Assets: $57 million
- Total Loans: $30 million
- Total Net Worth: $5 million
- Net Worth Per Member: $996 (this is well below the national average for credit unions, which was $1,633 as of December 2021)
- Net Worth Ratio: 8.8%. Based on NCUA guidelines this credit union is well capitalized.
- Total Members: 5,069
- Membership: KPEFCU has a membership base of 5,069 which is significantly smaller than the average credit union operating in the state of Oregon. The average credit union in the state has 39,080 members. Over the past three years, the credit union’s total base of members has increased by 15%.
- Address: 3737 Shasta Way, Klamath Falls, OR 97603
- Hours of Operation: Monday to Thursday: 9:00am-5:00pm, Friday: 9:30am-6:00pm
- Phone: (541) 882-5525
- Fax Number: (541) 884-0653
- Toll-Free Number: (800) 454-5525