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Kern Schools Federal Credit Union

Popular Accounts at this Credit Union

1.25%5-year CD60 Months Share Certificate
0.10%SavingsRegular Share/Savings
0.05%1-year CD12 Months Simple Saver Share Certificate

Overview / Commentary
11500 Bolthouse Dr
Bakersfield, CA 93311

Kern Schools Federal Credit Union is headquartered in Bakersfield and is the 29th largest credit union in the state of California. It is also the 176th largest credit union in the nation. It was established in 1940 and as of September of 2017, it had grown to 367 employees and 149,395 members at 12 locations. Kern Schools Federal Credit Union has an A health rating.

Field of Membership Restrictions

Membership in Kern Schools Federal Credit Union is open to those who live, work, attend school or worship in Kern County in California. Membership is also open to employees of University of California, Advance Beverage Company, Amway Corporation, Atlanta Beverage Company and other Select Employer Groups.
See current membership details

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Reviews (5)

Great Place To Bank

Great organization that contributes to the community and cares about its members.

Kern Schools Federal Credit Union

Posted by: Prestigetb | Nov 6, 2017

I love using Kern Schools for all of my banking needs. The employees were super helpful in getting me set up with an account. They were there to answer any and all questions that I had. I appreciate that I am talking to local people who are actually involved with the company versus a large bank who has employees that are not well known to management. I like the ease of transactions and the availability of the mobile site. I have never had an issue with my account, but used to incur many issues when using a larger bank. I have also noticed that there are not a ton of hidden fees with this bank. I would gladly recommend this bank to anyone local who is looking to switch banks.

Always available

Posted by: RickRoss | Mar 10, 2015

Kern Schools Federal Credit Union is an open bank that is always available. They have been there for me through many experiences. On a certain experience they helped me in the best way possible. I was traveling abroad and I had my wallet stolen. I was left without any cash and I did not knokw what to do. I ended up calling the bank to see what could be done. The service was spectacular. Not only did they confirm my identity over the phone with the various question, but they were able to allow me to withdraw cash from an ATM machine in Europe with a special pin code that I was provided. This allowed me to continue my trip. Within a week when I was back in the States I already had a new ATM card in the mail. Great experience with an awesome bank.

Kern School FCU, good job!

Posted by: Jenji2014 | Feb 16, 2015

I have had an account at Kern Schools Federal Credit Union for 16 years (since I was a teenager). I have never had a serious problem with them. I recommend them to anyone in Kern County who wants to get away from the annoyance of dealing with a national bank. They started out as a credit union just for teachers in Kern County, but were so popular with their members that they went on to open membership up to everyone. I worked for this credit union for 5 years and I can tell you, the employees go the extra mile and always try their hardest to help you no matter the situation. I have heard all the horror stories from my friends and family who have accounts at the "big banks" and I always wonder why they continue to keep their money at these places when there is a local credit union that cares so much more about the satisfaction of individual members. They will charge you overdraft fees, but they aren't as high as the regular banks will charge you. Any the few times I have had my account overdrafted because of a personal error, they have actually reversed them for me. Altogether, I have had an extremely positive experience with Kern Schools Federal Credit Union.

Okay Credit Union.

Their customer service is great, with someone almost always answering the phone when you call but other than that they're pretty basic. Kern Schools direct deposits don't kick in until 7:30AM each day. I get paid once a month and the day I get paid billers start charging my card on that day. Kern Schools will deny payments for all those billers because of insufficient funds and at 7:30AM the money is barley deposited. I have to call each one of those billers and tell them the funds are now available each month. Their products lose when compared to Kern FCU and their fees are much higher than Kern FCU. I moved to Kern FCU now and I'm glad I did.


Health Grade Components

NCUA #3804
Year Chartered1940
Primary Regulator
Profit Margin
Return on Assets - YTD0.83%
Return on Equity - YTD8.56%
Annual Interest Income$34.9MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$1.49B$1.42B
LoansQ3 2017vs Q3 2016$1.05B$908.6MM
DepositsQ3 2017vs Q3 2016$1.32B$1.26B
Equity CapitalQ3 2017vs Q3 2016$145.2MM$139.3MM
Loan Loss AllowanceQ3 2017vs Q3 2016$7.1MM$7.1MM
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$3.2MM$3.3MM
Real Estate OwnedQ3 2017vs Q3 2016$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Kern Schools Federal Credit Union Savings Account Rates

0.10%--Club Account
0.10%$100-IRA Club Account
0.10%*$10k*-Regular Share/Savings
OTHER TIERS: 0.05% Up to $10k
0.10%$100-CESA Club Account

Kern Schools Federal Credit Union Money Market Rates

0.25%*$100k*-Money Market
OTHER TIERS: 0.05% $1k - $10k | 0.10% $10k - $25k | 0.15% $25k - $50k | 0.20% $50k - $100k

Kern Schools Federal Credit Union CD Rates

1.25%$1k-60 Months Share Certificate
0.85%$1k-48 Months Share Certificate
0.75%$1k-36 Months Share Certificate
0.55%$1k-24 Months Share Certificate
0.40%$1k-18 Months Share Certificate
0.35%$1k-12 Months Share Certificate
0.30%$1k-6 Months Share Certificate
0.05%$25-12 Months Simple Saver Share Certificate

Kern Schools Federal Credit Union IRA Rates

1.25%$100-60 Months IRA Certificate
0.85%$100-48 Months IRA Certificate
0.75%$100-36 Months IRA Certificate
0.55%$100-24 Months IRA Certificate
0.35%$100-12 Months IRA Certificate