50 Years of service. (Special Advertising Profile: Kaiser Federal Bank).

Kaiser Federal Bank is currently celebrating 50 years of success as a personal financial institution.

This successful journey began in 1953 when seven employees of the Kaiser Foundation Hospital in Los Angeles joined together and established Kaiser Foundation Hospital Employees Federal Credit Union with the vision "Not for Profit -- Not for Charity -- But for Service." Under the Federal Credit Union Act, these pioneers obtained a federal charter and worked without pay to provide a place for members to save and make loans to other members. "Members helping members" was the motto for this group of hospital employees.

During the next twenty years the field of membership was expanded to include all those employed in the Southern California Kaiser Permanente medical facilities as well as Southern California Permanente Medical Group physicians.

By 1973, with only one type of savings account and signature or car loans, 8400 members belonged to this $9 million financial institution now called Kaiser Permanente Federal Credit Union. Changes in the law allowed the addition of multiple types of accounts, including checking and certificates of deposit accounts as well as home loans. With expanded products and services, Kaiser Permanente Federal Credit Union reached $43 million in assets, by 1983 while serving 25,600 members with seven small branch offices located near Kaiser Hospitals in Southern California.

Technology provided the opportunity to enhance service and expand the delivery systems while eliminating the high cost of brick and mortar branches. Deposit taking ATMs were installed in the major medical centers, account access became available 24 hours / 7 days a week through the audio response unit called EasyTeller and with direct deposit, remote access was actually possible.

Fifty percent of Kaiser employees were members of the credit union by 1993 contributing to the total assets of $152 million. They fully utilized the services offered from their primary financial institution. Under the operating charter of a credit union the market share was maximized and the Board of Directors looked for ways to expand products, services and membership.

It was determined that a mutual savings association charter, governed by the Office of Thrift Supervision and the Federal Deposit Insurance Corporation was the answer. With $190 million in assets, the members of Kaiser Permanente Federal Credit Union voted to change their charter in October 1999 to become Kaiser Federal with expanded services and capabilities.

Today, after three years of operating as Kaiser Federal Bank, assets have more than doubled to over $400 million. This success is attributed to excellent service, above market rates for deposits and low rate vehicle loans as well as a wide variety of real estate products. There are branch offices located in Pasadena, Covina, Fontana and Santa Clara. With their own network of thirty ATMs, Kaiser Federal Bank also offers VISA ATM/Check cards for free access. When you call 800-524-CASH between 7 a.m. to 7 p.m., Monday through Friday, an Information Specialist can help you bank by phone, open an account, answer questions and perform transactions. From anywhere, www.kaiserfederal.com provides up to date information, secure online account access through EasyOnline and a bill payer program called EasyPay.

Over 37,000 members now take advantage of the products and services offered by Kaiser Federal Bank as we celebrate 50 years of service as a personal financial institution.

      Members        Assets

1953        0            $0
1973    8,400    $9 million
1983   25,600   $43 million
1993   32,000  $152 million
2003   37,000  $400 million

Note: Table made from bar graph