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.
Field of Membership Restrictions
California Credit Union is open to 1) those who live or work in Orange, Riverside or San Diego Counties in California; 2) employees of the Los Angeles Unified School District or Los Angeles County Office of Education, retired educators, charter school employees, college or university employees, private school employees who live in California, and P.T.A. or Alumni Association members who live in California; or 3) family of credit union members .
See current membership details
Related Posts
11/13 - California Credit Union Adds 5-Month CD, 5.00% APY ($25k Max)
11/11 - 5% 5 Month CD (Max $25,000)
9/2 - 4.00% 7-Month CD at California Credit Union (up to 4.20%) - Easy Membership
2/8 - 4.70% 18-Month CD at California Credit Union - Easy Membership.
2/23/07 - 5.50% 11-Month CD at a California Credit Union and $75 Checking Bonus (California)
8/30/06 - 5.65% 9-Month CD at a California Credit Union
8/19/06 - 8.00% 8-Month ($5K max) / 5.92% 17-Month CD at a California CU
5/4/06 - 8% 8-Month CD at a California CU ($5K Max)
2/10/06 - $75 Checking Account Bonus at a California CU
Limited features, but great customer service
As the national banks have low interest rates and I want to maintain my assets' liquidity, I elected to use local credit unions to deposit by savings. I went to a local branch of California Credit Union to open both a checking and a savings account. I was happy to find that their interest rates were very competitive, comparable to some of the certificates of deposit offered by national banks. The applications process was painless as the employees were patient and very professional, something that is hard to find at a national bank. One thing that I was disappointed with is the inconvenient ATM locations and the lack of a mobile app. It would be nice to be able to manage my finances from my smartphone, but it is not a deal breaker as I do not actively manage the funds in these accounts anyway. Overall, if you are looking for somewhere to deposit your money, you should definitely consider California Credit Union.
Beware Credit Score Hit.
A CSR called me today to say that this credit union does a hard pull on every applicant for membership. Even if not applying for credit. Think carefully if you intend to borrow (elsewhere) in the next 2 years or so.
Data as of Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 60784 |
| Year Chartered | 1933 |
| Employees | 490 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.12% |
| Return on Equity - YTD | 1.1% |
| Annual Interest Income | $103.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $3.82B$3.19B |
| Loans | Q4 2020vs Q4 2019 | $2.14B$2.40B |
| Deposits | Q4 2020vs Q4 2019 | $3.28B$2.65B |
| Equity Capital | Q4 2020vs Q4 2019 | $405.2MM$352.5MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $11.4MM$6.3MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $20.4MM$10.9MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $0$0 |
