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626-351-9655
P.O. Box 70789
Pasadena, CA 91117

Pasadena Service Credit Union is headquartered in Pasadena and is the 150th largest credit union in the state of California. It is also the 1,481st largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 22 employees and 9,609 members. Pasadena Service Credit Union's savings rates are 92% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Established in 1936, Pasadena Service Federal Credit Union was originally created by a group of educators to serve educators from Pasadena Junior College (now Pasadena City College). Through years of growth, the credit union offered membership to all staff and students of select schools, as well as employees of businesses in Pasadena and surrounding cities. On November 30, 2009, Pasadena Service Federal Credit Union acquired the Vernon Commerce Credit Union, making it a division of Pasadena Service FCU. Membership is open to the following fields of membership: Pasadena Service FCU: Persons who live, work, worship or attend school in Altadena, Arcadia, Pasadena, San Marino, Sierra Madre, South Pasadena, and the unincorporated area of 91107. Vernon Commerce FCU: Members and employees of members, present and retired, of the following: Vernon Commerce Federal Credit Union, Huntington Park Chamber of Commerce, Industrial Council of the City of Commerce; anyone who works for a business in Bell, Bell Gardens, Commerce, Huntington Park, Maywood, or Vernon; and employees of: Nuclear Valve Division, Borg Warner Corporation; A&B Transportation Services, Inc. Spouses and immediate family members of current members are also eligible for membership. - See Details

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Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Pasadena Service Credit Union had $105,000 in non-current loans and owned real-estate with $9.54 million in equity and loan loss allowances on hand to cover it. This gives Pasadena Service Credit Union a Texas Ratio of 1.10% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Pasadena Service Credit Union decreased dramatically from 2.08% as of March 31, 2013 to 1.10% as of March 31, 2014, resulting in a positive change of 47.14%.This indicates that the balance sheet and financial strength for Pasadena Service Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Pasadena Service Credit Union has decreased its total deposits by -$3.86 million, resulting in -3.91% 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 Pasadena Service Credit Union has shown is below average.

Capitalization

GRADE:
C+

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. Pasadena Service Credit Union has $104.55 million in assets with $9.54 million in equity, resulting in a capitalization level of 9.12%, which is average.

Institution Statistics

Overall
NCUA #1368
Year Chartered1936
Employees22
Primary Regulator
Assets and Liabilities
Assets$104.55 million
Loans$40.09 million
Deposits$95.05 million
Equity Capital$8.78 million
Loan Loss Allowance$762,000
Unbacked Noncurrent Loans$105,000
Real Estate Owned$0
Historic Data - March 2013
Assets$108.35 million
Equity Capital$8.98 million
Loan Loss Allowance$674,000
Unbacked Noncurrent Loans$105,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.45%
Return on Assets0.4%
Return on Equity4.79%
Interest Income$746,000
Rates

Always verify rates and promotions with the bank or credit union. We are not Pasadena Service Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Pasadena Service Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.00%$100-IRA Savings
1.00%$100-Roth IRA Savings
1.00%$100-Coverdell Education Savings Account
0.05%$50-Regular Share
0.05%$50-Holiday Club
0.05%$50-Vacation Club

Pasadena Service Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.05%$2k-Money Market Account
0.05%$50k-Premium Money Market

Pasadena Service Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$1k-Dividend Checking

Pasadena Service Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-60 Month Share Certificate
0.85%$1k-48 Month Share Certificate
0.10%$1k-3 Month Share Certificate
0.10%$1k-6 Month Share Certificate
0.10%$1k-12 Month Share Certificate
0.10%$1k-24 Month Share Certificate
0.10%$1k-36 Month Share Certificate
0.10%$100-12 Month College Fund Share Certificate

Pasadena Service Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-60 Month IRA Certificate
0.85%$1k-48 Month IRA Certificate
0.10%$1k-3 Month IRA Certificate
0.10%$1k-6 Month IRA Certificate
0.10%$1k-12 Month IRA Certificate
0.10%$1k-24 Month IRA Certificate
0.10%$1k-36 Month IRA Certificate
Locations


Pasadena Service Credit Union Locations
Branch Office670 N Rosemead BlvdPasadena, CA 91107-2101
Branch Office3801 S Santa Fe AveVernon, CA 90058
Branch Office5720 E Washington BlvdCommerce, CA 90040