Pasadena Service Federal Credit Union Launches Social Equity Program With Standardc To Provide Banking For Cannabis & Marijuana Businesses
LOS ANGELES, March 23, 2022 /PRNewswire/ — Pasadena Service Federal Credit Union and StandardC have announced the formation of a social equity program to help underserved cannabis businesses obtain fair access to banking and financial services.
Despite delays by the United States Congress to pass cannabis banking reforms and broader legislation for marijuana legalization, most notably the SAFE Banking Act and the Cannabis Administration and Opportunity Act, Pasadena Service FCU has taken the initiative to serve the underserved communities that have been adversely impacted by the war on drugs.
Jamaal Byers, Director of Compliance for Pasadena Service FCU, commented, “While Congress deliberates, our credit union is doing what we can to help level the playing field by providing access to banking to those who truly need it.”
While cannabis remains restricted under the Controlled Substances Act , the Financial Crimes Enforcement Network , which enforces the Bank Secrecy Act and its Anti-Money Laundering requirements, issued guidance in 2014 that “clarifies how financial institutions can provide services to marijuana-related businesses consistent with their BSA obligations.”
Businesses looking to apply for an account with Pasadena Service FCU can complete an application with StandardC using this link: www.standardc.io/psfcu.
About Pasadena Service Federal Credit Union
About StandardC
Learn more at www.standardc.io and www.bankingcannabis.org
Ways To Find Your Pasadena Service Fcu Routing Number Online
Here are several ways available to you to find your ABA routing number:
- On this page We’ve listed above the details for ABA routing number PASADENA SERVICE FCU used to facilitate ACH funds transfers and Fedwire funds transfers.
- Online banking portal: You’ll be able to get your bank’s routing number by logging into online banking.
- Paper check or bank statement: Bank-issued checks or bank statements. See the bottom left side of your check.
- Bank customer service: You’ll be able to get your routing number by contacting your bank’s customer service staff
- Fedwire / American Banking Association: You can look up your routing number on the official website of the Federal Reserve or the American Banking Association.
For your bank to process the payment quickly and securely, you should always check routing numbers with your bank or your recipient.
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New Branch Coming Oct 2022
We are temporarily located at 1289 N. Lake Avenue, two doors down from our future branch location, 1285 N. Lake Avenue, Pasadena, CA 91104.
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Pasadena FCU offers a variety of mortgage resources for first-time homebuyers and those looking for home equity loans and refinancing.
Field Of Membership Restrictions
Membership in Pasadena Service Federal Credit Union is open to those who live, work, worship, or attend school in the California communities of Alhambra, Altadena, Arcadia, Azusa, Baldwin Park, Bell, Bradbury, Citrus, Commerce, Covina Duarte, Duarte, East San Gabriel, East Pasadena, El Monte, North El Monte, South El Monte, Glendale, Huntington Park, Irwindale, La Puente, Maywood, Monrovia, Montebello, Monterey Park, Pasadena, San Gabriel, Rosemead, Sierra Madre, San Marino, South Pasadena, Temple City, Valinda, Vernon, Vincent, or West Covina. Employees of more then 50 Select Employers Groups also qualify.
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What Is A Routing Number
Your bank routing number is a 9-digit code used to identify a financial institution in a transaction. It’s based on the location of the bank where your account was opened. It is also referred to as an RTN, a routing transit number or an ABA routing number and can be easily be found printed on the bottom left side of your check. You can also find your routing number in your online banking portal.
The most common types of encountered transactions are ACH and wire transfers. Some banks and financial institutions usually have multiple routing numbers serving different purposes, geographical regions, and branches. The Federal Reserve Banks require routing numbers to process Fedwire funds transfers and the ACH network requires them to process electronic funds transfers .
How Are Swift / Bic Codes Ibans Sort Codes And Routing Numbers Different
If you’re planning to send or receive money through your bank, you will likely come across unfamiliar terms such as routing number , SWIFT / BIC code, IBAN, and sort code. What exactly are these acronyms, and what are they used for? Well, all of them seemingly do much of the same thing which is to help banks identify where your money needs to go when being transferred, but each is required in specific situations because different countries and banks have different processes and requirements.
SWIFT / BIC codes are 8 or 11-digit codes that uniquely identify banks and financial institutions worldwide. Unlike routing numbers, these codes are used for international payments.
IBANs are international bank account numbers that identify the country, financial institution, and individual bank accounts. They’re mainly issued by banks in the Eurozone, but other countries are starting to adopt them as well.
Sort Codes are 6-digit numbers used for domestic transfers in the United Kingdom which identify the bank and the branch where a bank account is held.
Routing numbers are 9-digit codes used in the US to identify banks when processing domestic ACH payments or wire transfers. These are not required when making payments outside the United States.
Transit numbers are 9-digit codes used in Canada for electronic funds transfers. They identify a specific Canadian bank and branch where a payment will be sent.
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When You’ll Need A Pasadena Service Fcu Routing Number
A routing number is required in a variety of situations, including setting up direct deposit, automatic loan payments or recurring transfers like bill payments.
Youll also need it when you file taxes to receive your tax refund or debit a tax payment, or when you conduct Automated Clearing House , transfers between different bank accounts.
Generally, you’ll only need your routing number when funds are being directly transferred to or from your bank account never for debit card or credit card purchases.
A Short History Of Pasadena Service Fcu
Since its inception in 1936 the Pasadena Service Federal Credit Union has been serving its members in the PASADENA, California area with exceptional financial products. You can find their current interest rates on used car loans, new car loans, 1st mortgage loans and interest rates on both fixed and adjustable mortgages here on these pages. Currently led by James Chang, the Pasadena Service FCU has grown its membership to over 11,089 with assets of more than $116,473,190. They have a main office and 3 branch offices. Please see the credit unions website or contact them by phone at 351-9651 or email them at office@mypsfcu.org to get exact details . There are many other credit unions in the local area. See them all here. .
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Pasadena Service Federal Credit Union
- Joseph WarrenMay 16, 2019Today I was at the Annual Meeting at the Federal Credit Union we had a good time their I enjoy my self.
- Joseph WarrenMay 16, 2019In the near future I see myself becoming a member their.
- Adam RobleyMarch 9, 2013Been here 25+ timesQuick for a Friday afternoon
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Apply For Your Card Today
- If you are already a member of our credit union, simply apply quickly via Online Banking, or contact a Pasadena FCU Representative at:
- 445-PFCU
- 799-0882
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Pasadena Service Federal Credit Union Partners With Interfaceai To Significantly Enhance Member Experiences & Operational Efficiencies By Offering An Intelligent Virtual Assistant
WALNUT, CA â Pasadena Service Federal Credit Union , a not-for-profit financial organization, serving over 11,440 members, will offer 24Ã7 personalized support to all its members with interface.aiâs award-winning Intelligent Virtual Assistant .
The IVA will be initially available on PSFCUâs website and mobile app. It will enable PSFCU to engage its members and instantly help them find answers to their questions. With this increased efficiency, PSFCUâs staff will also be able to provide personalized support to members in need, thus elevating the overall member experience offered.
âOur members will be able to use the IVA to get quick answers for their queries, and it will help us provide 24Ã7 support to our members. The IVA will help us elevate our service levels and offer our members the best member experiences possible. We will leverage our staff bandwidth to focus on solving complex member issues and provide personal assistance.â said James Chang, Chief Executive Officer, PSFCU
On the partnership with interface.ai, James added, âThe member experience we will be able to offer with interface.ai is far superior to what we found was possible with other AI platforms. The impact interface.ai has enabled for other Credit Unions is unparalleled. Working with interface.ai will enable us to focus on what we do best, which is to serve our members.â