There are two major reasons why most Americans choose credit unions over other banks. The first reason is the high rates earned by savings. And the second is the low loan rates. Credit unions are capable of providing such rates because of the nature of these financial institutions. Credit unions are non-profit. Any income made goes back to the members who are owners of the credit union. And one of the leading credit unions in the country is the Kinecta Federal Credit Union. This credit union has about $4 billion worth of assets and more than 200,000 members all over the country. The Kinecta Federal Credit Union was formerly the Hughes Aircraft Employees Federal Credit Union, which was established in 1940. This credit union was formed to serve the financial needs of the employees of Hughes Aircraft Company. The employees could not easily find the time to go to downtown to manage their financial affairs. A credit union right in the premises of their plant will be ideal. The 12 founders provided $5 each to make the total assets reach $60. Since then, the membership dramatically increased and this credit union served its members for more than 60 years. Then, in July 200, the name Hughes Aircraft Employees Federal Credit Union was changed into Kinecta Federal Credit Union. The change in name paved way to a faster expansion that made Kinecta Federal Credit Union an industry leader in financial services. This credit union's success is due to its unwavering commitment to excellence in service towards its members. This credit union sincerely serves its members. Membership to this credit union is extended to any employee and his/her family who works for any of the Select Employer Group (SEG). Membership is also extended to those who belong to the Consumers Cooperative Society of Santa Monica. And if none of these apply, a person can still become a member if he or she lives, works, goes to school, or even goes to church in certain zip codes of Anaheim, Santa Ana, Rialto, Lancaster, and the Greater Los Angeles area. By becoming a member of the Kinecta Federal Credit Union, a person is entitled to a wide range of financial services that will help provide financial stability in the future. This credit union also anticipates certain milestones in a person's life that will affect the management of finances. Some of these milestones are births, deaths, marriages, and divorces. With the birth of the youngest member of the family, the Kinecta Federal Credit Union suggests ways that a person can better prepare for the future, such as updating the Life Insurance Policy, reviewing the financial accounts, and starting the college savings plan. With marriages and divorces, the Kinecta Federal Credit Union has a list of tasks that must be carried out in order to manage the finances. The list includes the review of Life and Homeowners insurance policies, the change of names of financial accounts, and the report to credit bureaus, which are the Equifax, the Experian, and the TransUnion. (2/2008)