Lafayette Federal Credit Union Named to America's Best Banks List 2023 by Newsweek


Lafayette Federal Credit Union has been named to America's Best Banks List 2023 by Newsweek, a second-year recognition for the $1.6 billion credit union headquartered in Rockville, MD. The publication honors the nation's leading banks and credit unions that provide the best overall value to members.

"To help you find the financial institution that best serves your needs — one that combines high rates, low fees and the services and rewards that suit your lifestyle, Newsweek has once again partnered with LendingTree for our annual Best Banks rankings," said Kerri Ann Renzulli, a Senior Reporter for Newsweek. "We evaluated thousands of FDIC-insured banks and credit unions based on more than 50 different factors to land on best-in-class options in 26 different categories. One of our winners is sure to be right for you."

Individual Best Bank winners were selected from a pool of 4,927 financial institutions, which included 127 credit unions that are open to anyone to join. Recognition criteria included the following: current interest rate, average interest rate over the previous year, minimum deposit needed to open an account, insufficient funds fees, overdraft protection, branch presence, and for CDs, the number of days of interest lost upon making an early withdrawal.

"To be acknowledged by Newsweek for two consecutive years is yet another proud moment for our team," says B. John Farmakides, President and CEO of the Lafayette FCU. "To earn back-to-back recognitions is a tribute to the extraordinary successes of our growing credit union. Over the past several years, our hard work has led us to be recognized not only as one of Newsweek Best Banks (2022-2023), but also by the S&P Global Market Intelligence Report (2021-2022) and Bauer Financial 5-star ranking (2022). We are evermore grateful to our employees who have shown remarkable dedication to our organization, and to our members who have entrusted us with their business for over 85 years."

About Lafayette FCU
Lafayette Federal Credit Union is a premier financial institution in the Washington, D.C. metropolitan area. Since 1935, Lafayette Federal has sought to provide members with a safe and convenient place to save and to offer deposit and loan accounts at rates and terms more favorable than those of other financial institutions. With assets of $1.65 billion and 55,000 members worldwide, Lafayette Federal operates eight full-service branch offices in the District of Columbia, Maryland, and Virginia and offers global access via the shared branch/ATM network and 24/7 electronic services. Our organization has been recognized by the S&P Global Market Intelligence Report as one of the top 100 credit unions nationwide (2020-2021), by Newsweek as one of America's Best Banks (2022-2023), and received a 5-star ranking from Bauer Financial (2022). To learn more about the Lafayette Federal Credit Union, reach out to us at (301) 929-7990 or visit

Source: Lafayette Federal Credit Union

About Lafayette Federal Credit Union

Lafayette Federal Credit Union is a not-for-profit financial institution, operating eight full-service branch locations in the District of Columbia, Maryland, and Virginia. Since 1935, our mission has been to serve, support, and empower our members by understanding their financial needs, delivering products, and services to achieve their financial goals and offering solutions to assure their financial well-being. As a member-focused, service-driven organization, Lafayette Federal has received national recognition by S&P Global, Newsweek, Washington Business Journal, and Bauer Financial.

Lafayette Federal Credit Union
2701 Tower Oaks Blvd
Rockville, MD


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