Who are we?
Bourns Employees Federal Credit Union (Bourns EFCU) was founded in 1966 to serve employees of Bourns, Inc. Since then we have grown to serve more than 2,500 members nationwide with more than $30 million in assets.
We offer a broad range of banking and other financial services with an eye toward low cost easy solutions for your banking and financial needs.
Recently we began serving the needs of businesses and their employees in our local community.
Who can join?
Employees, retirees, corporate or legal entities, of the following companies as well as immediate family members and organizations of such persons:
- Bourns, Inc. and its subsidiaries
- Fifth Element Spalon
- Advantage Auto Recycling
- Acapulco Pool & Spa Service & Supplies
- Sandra M. Akamine, OD, FAAO
- Analog Devices (Santa Clara, Sunnyvale & San Jose, CA)
- A P Engineering
- Blacoh Fluid Control
- California Dining
- Champion Lumber Company
- Datatronics, Inc.
- Davidson's Air Conditioning & Heating, Inc.
- Dent-ology, Inc.
- Law Offices of Betty Auton-Beck
- Law Offices of William M. Nassar
- E. Eugene Platt & Associates
- Pulmonetic Systems
- George T. Ricks, M.D.
- Riverside Industrial Medical Clinic
- Rolenn Manufacturing, Inc.
- Shogren Careers
- Sips Cafe, Inc.
- Vanguard Automation, Inc.
- Wallner Tooling/Expac, Inc.
- Webber EMI
- R. Ivan Wenzel Financial Services Corporation
Why should I choose Bourns EFCU over other financial services providers?
" 'Why should I choose the credit union instead of one of its competitors with a branch on the corner?' It's a question those of us working in credit unions hear regularly. I think it's because structural differences matter. In the most basic sense, it’s about who you can trust." - Elizabeth L Lipke, Chief Executive Officer
The idea for credit unions was based on the simple principle that ordinary people could pool their money and make loans to each other. Credit unions are financial cooperatives, owned by the people who save and borrow there.
According to the University of Wisconsin’s Center for Cooperatives, a cooperative is a business operated for its member-patrons, and by them, on a not-for-profit, or cost, basis. A cooperative provides services and benefits for its members in proportion to the use they make of their organization rather than earning profits for investors.Every member is an owner with an equal vote in the election of the credit union's volunteer board of directors. Credit unions return earnings to their members in the form of lower rates on loans, higher dividends on savings, and fewer and lower service fees. Many credit unions have expanded their services to include checking accounts, online services, credit cards, debit cards, IRAs, mortgages, and even business services.
Although professional managers typically operate the credit union, many decisions that affect you every day, are made by a volunteer board of directors - people not too different than you. Decisions, therefore, are made typically with less regard for whether or not they will result in profit.
In this age of questionable accounting and sketchy ethics, what members tell credit unions again and again, is that they are more likely to trust their credit union. And it’s due to these differences. But you only get out of the credit union in proportion to your willingness to participate: by using the services available, by voting for your Board members annually and by looking out for CU interests in Washington, D.C.
As with other financial institutions, credit unions are regulated by state and federal agencies.To learn more about credit unions in the U.S. and around the world, click here.
