About Us: Message from the President

Dear Friends,

After many years of service, we would like to thank our members who made the credit union into what it is today. In a competitive and rapidly changing financial world, our members have stood by us and remained loyal to our cause. With over 80 million dollars in assets and never posting a loss, the Credit Union has grown from its humble beginnings into a "private banking" institution. Founded in 1970, the Credit Union has grown to over 3,000 members worldwide and over 70% of Lufthansa employees in the U.S. are members. With this, I would like to convey the understanding of what makes our credit union unique in the financial world. Since inception, we stand by the philosophy of “people helping people” or more specifically “colleagues helping fellow colleagues”.

It is through this belief that we were able to sustain a magnitude of volatile markets, legislation reforms, and fluctuations in the airline industry. Our goal, which remains true to this day, is to promote the welfare of our members. As a non-for-profit organization, we strive to out-perform our financial competitors through better returns on savings and lower rates on loans and credit cards. It is this fundamental belief, enacted by our volunteer board of directors, that makes up the core of Lufthansa Employee Federal Credit Union. With that said, we are looking forward to your continued support and more successful years to come!

Klaus Vogel
President

About Us: Message from the Treasurer

Dear Friends,

In uncertain times, many investors are concerned about the soundness of the financial institutions, but some have yet to seek the safe haven of our Credit Union.

We have successfully avoided pitfalls by emphasizing safety above yield. The old proverb, “there is no free lunch” validates the narrow balance between the rate of return and its associated risk. The Credit Union can truly be proud that we never had a financial loss and never plan to. Our books are audited yearly by Federal examiners, who not only check the accuracy of our books, but also assess the future risk and exposure of our investments. Their recommendations, blended with our outlook, “bring out the best in us”.

Our forte is private discretionary banking. Many members entrusted us with their core life savings and we honored this trust with sound returns and prudent management.

We believe we should continue this philosophy and remain who we are, “Employees helping other Employees”. Congress has recognized the unique nature of Credit Unions in 1937, when it granted them tax-exempt status. Credit Unions should primarily service members and not create profit for stockholders. In the past, our Credit Union has kept this spirit and mission alive and hopefully will continue to do so in the future.

Franz Herzig
Treasurer