Kinecta Federal Credit Union Opens New Branch in the Historic Watts Community

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Apr 18, 2023, 08:50 ET

MANHATTAN BEACH, Calif., April 18, 2023 /PRNewswire/ -- On Monday, April 10, Kinecta Federal Credit Union opened a new branch in the historic community of Watts in South Los Angeles. This branch marks Kinecta's 30^th location. The Watts area has a culturally rich past. As the birthplace of many notable writers, musicians and artists, Watts has a long-standing legacy of contributing to arts and culture in America. With the support of its many dedicated community organizations, Watts is undergoing a revitalization that has brought prominence back to this historic district.

"It is a privilege to open a branch in this important neighborhood and provide financial services to this vibrant and historic community," said Keith Sultemeier, President and Chief Executive Officer of Kinecta. "We are excited to bring our dedication to service and building stronger communities to those who call Watts home."

As a credit union, Kinecta offers many of the same products and services as banks, but there are significant differences in how credit unions operate. Banks are for-profit and accountable to shareholders who demand returns. Credit unions are not-for-profit and accountable to their member-owners. Because of this, Kinecta reinvests its profits into its members, communities and credit union, allowing them to provide lower rates on loans and higher rates on deposit products and have a greater focus on member service. Kinecta is dedicated to improving members' lives through actions such as financial education, wellness, social responsibility, mentorship, and diversity, equity and inclusion practices.

Kinecta helps to guide more than 270,000 members nationwide to financial security through banking, lending, insurance and wealth services. From free online financial workshops to financial recommendations tailored for individual life events, Kinecta invests heavily in helping members live their best lives.

Learn more about the Watts branch on the website.

About Kinecta Federal Credit Union
Headquartered in Manhattan Beach, California, Kinecta Federal Credit Union is the country's 35th largest credit union, with assets of $6.7 billion and more than 270,000 members from coast to coast. Banking the Southern California area for more than 80 years, with additional branches in New York, New Jersey, Northern California and Florida, Kinecta offers its members a full range of financial products from banking, lending and insurance to wealth management services. Kinecta has been recognized by the Mortgage Bankers Association as a recipient of its Diversity, Equity and Inclusion (DEI) Residential Leadership Award, and received the Best of Show award granted by the Credit Union National Association (CUNA) Technology Council. Residents of Rochester, NY, voted Kinecta as a finalist for Best Credit Union in the Democrat & Chronicle's annual Rochester Choice Awards in 2022. Forbes awarded Kinecta as a top-ranked credit union in California on its America's Best Credit Unions in Each State 2022 List. Kinecta has 30 locations, and its members can use a network of more than 5,800 shared branches and access over 85,000 fee-free ATMs nationwide. For more information on Kinecta, visit the website and LinkedIn.