Liberty First Credit Union is unique in the financial services industry. We are a member-owned, not-for-profit financial cooperative. Those who do business with us are known as members. We exist solely to provide our members with affordable financial services; and members work together to achieve their financial goals.
Member savings accounts earn dividends and create a pool of funds for other members to borrow at a low interest rate. This "people helping people" cooperative business philosophy enables us to provide a full range of low-cost financial services to our members.
To establish membership, a share savings account with a balance of least $5 must be opened. This represents one share of LFCU. There are no outside or majority shareholders. Each member, regardless of the size of their account balance, only owns one share. Our earnings are returned to our member-owners through dividends, competitive rates on loans and savings, free and low-cost services, and other member benefits.
Our democratic organizational structure provides our member-owners with the opportunity to participate in the management of the credit union. The Board of Directors consists of volunteer members elected by the membership. Only members may serve on the Board and each member receives one vote.
We were originally chartered as the Burlington Employees Cooperative Credit Association in 1935 and served the employees of the Chicago, Burlington & Quincy Railroad. In 1943, our request for conversion from a credit association to a credit union was approved and we became Burlington Employees Credit Union. In 1992 our name was changed to Burlington Credit Union. By 1997 we were continue to grow and wanted to share our products and services with all of Lancaster County, thus we applied for and were granted a community charter allowing us to serve all who live, work, worship or attend school in Lancaster County or is related to those eligible for membership. In February of 2003 our name was changed to Liberty First Credit Union. January 2012 brought on our most current change in field of membership with the addition of Seward County residents and their family.
Over the years, our field of membership has grown to include family members, retirees, select groups of occupation and association, those living or working in Lancaster or Seward County, Nebraska and those related to a member or someone within our field of membership. As our membership has grown, we have continually expanded our range of financial products and services to provide our members with the services they desire.
To determine if you're eligible for membership, see who we serve. Or, call us at (402) 465-1000, toll-free at 855-501-4600.