California Credit Union exists to serve teachers and other education professionals by providing personal and business banking solutions to meet various needs. It has grown to be one of the largest credit unions in Southern California, serving tens of thousands of members through multiple branches located in the vicinity of Los Angeles.
California Credit Union makes a variety of personal and business banking products and services available to its members. On its personal banking side it offers checking, savings, money market, CD, and IRA CD accounts. It offers a checking account that comes with ATM reimbursements and a check card. CCU also offers savings and money market accounts to give members the opportunity to earn higher interest rates based on the level of their account balance. CCU’s share certificates are offered with term lengths from 3 to 60 months.
California Credit Union online banking is free and offers members access to mobile banking and bill pay. It also offers unique financial management tools that allow its members to manage budgets and set bill reminders.
California Credit Union began in 1933 when a group of teachers and administrators established a charter for the Los Angeles Teachers Credit Union. It is headquartered in Glendale, California, just outside of Los Angeles. It became federally insured in 1971.
Who Can Join: Any public or private school employee*; Los Angeles County Office Employees (LACOE); Any California Retired Teachers Association PERS member; Any senior-year teaching student. *Current or retired employee of LAUSD, Other USD, LACCD, UC, CSU, Other California college or California public or private school. You also qualify for membership if you are a/an: Immediate relative of a California Credit Union member; Parent Teacher Association or Parent Teacher Student Association member*, Public television contributor, Alumni association member, America Scouting member, Student body member of California school. *Not a PTA/PTSA member? We'll sign you up at any of our local branches! - See Details
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The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 California Credit Union had $13.83 million in non-current loans and owned real-estate with $114.58 million in equity and loan loss allowances on hand to cover it. This gives California Credit Union a Texas Ratio of 12.07% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for California Credit Union decreased dramatically from 21.41% as of December 31, 2012 to 12.07% as of December 31, 2013, resulting in a positive change of 43.63%.This indicates that the balance sheet and financial strength for California Credit Union has improved dramatically in recent periods.
In the past year, California Credit Union has increased its total deposits by $22.75 million, resulting in 2.38% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth California Credit Union has shown is above average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. California Credit Union has $1.17 billion in assets with $114.58 million in equity, resulting in a capitalization level of 9.76%, which is above average.
|Assets and Liabilities|
|Equity Capital||$102.96 million|
|Loan Loss Allowance||$11.63 million|
|Unbacked Noncurrent Loans||$12.73 million|
|Real Estate Owned||$1.11 million|
|Historic Data - December 2012|
|Equity Capital||$91.85 million|
|Loan Loss Allowance||$22.05 million|
|Unbacked Noncurrent Loans||$12.73 million|
|Real Estate Owned||$2.33 million|
|Profit Margin - Quarterly|
|Net Interest Margin||4.24%|
|Return on Assets||0.67%|
|Return on Equity||7.66%|
|Interest Income||$34.36 million|
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|0.10%||$50||-||IRA Savings Account|
|0.10%||$50||-||Roth IRA Savings Account|
|0.05%||$300||-||Share Savings Accounts|
|0.25%||$500k||-||Money Market Accounts|
|1.60%||$1k||-||60-Month Max Saver Share Certificate|
|0.95%||$1k||-||36-Month Max Saver Share Certificate|
|0.80%||$1k||-||24-Month Super Saver Share Certificate|
|0.65%||$1k||-||18-Month Super Saver Share Certificate|
|0.60%||$1k||-||12-Month Elite Saver Share Certificate|
|0.30%||$1k||-||6-Month Flex Saver Share Certificate|
|0.15%||$1k||-||3-Month Flex Saver Share Certificate|
|1.60%||$1k||-||60-Month Max Saver IRA Certificate (Traditional,Roth)|
|0.95%||$1k||-||36-Month Max Saver IRA Certificate (Traditional,Roth)|
|0.80%||$1k||-||24-Month Super Saver IRA Certificate (Traditional,Roth)|
|0.65%||$1k||-||18-Month Super Saver IRA Certificate (Traditional,Roth)|
|0.60%||$1k||-||12-Month Elite Saver IRA Certificate (Traditional,Roth)|
|0.30%||$1k||-||6-Month Flex Saver IRA Certificate (Traditional,Roth)|
|0.15%||$1k||-||3-Month Flex Saver IRA Certificate (Traditional,Roth)|