Premier America Credit Union is headquartered in Chatsworth and is the 20th largest credit union in the state of California. It is also the 98th largest credit union in the nation. It was established in 1957 and as of December of 2019, it had grown to 300 employees and 116,238 members at 21 locations. Premier America Credit Union has an A health rating.
Membership in Premier America Credit Union is open anyone through joining Thousand Oaks Alliance for the Arts. Membership is also open to the following: (1) those who reside, work, attend school, or worship in Harris County, Texas; (2) those who reside, work, worship or attend school in Ventura or Los Angeles Counties in California; (3) family of credit union members. (Complete membership requirements are listed in the credit union’s online application)
See current membership details
I have been a member of PACU since 2002. I was actually the Autoland rep from 2002 to 2010. I enjoyed working at PACU and I still keep in touch with many of the people I met there.
The credit union has grown and with acquisitions comes challenges. They are no longer the small, local banking institution and I do notice I have to make a few more calls to get things taken care of. I understand this and I'm okay with it, because it means that they will continue to stay in business and thrive.
Recently, I spent 2 1/2 years at a very small credit union as the Direct Auto rep. Much different experience. With a small credit union, you feel more like it's a private group of friends, which is nice. The negative is that it's treated more like a sole proprietor business and many decisions are made without proper consultation. Unfortunately, it puts the organization at risk of financial losses and adds liability.
From a customer point of view, the small, local credit union is nice and more friendly, however for longevity, I'm not sure how well they'll survive when something bad happens.
I give PACU 5 stars, because I need a financial institution that will not be forced to close in bad economic times and I feel that PACU has the right management and depth the make the proper decisions. I'm making a conscious decision to accept slightly less customer service for stability.
I have been a client of Premier America Credit Union for a few years now and am honestly not very happy with them. I have a checking account and a savings account there, both of which require ridiculous minimum balances in order to avoid fees. Their products are not very competitive, they are pretty standard compared to other banks. They are also not very good about doing fee reversals. I had a returned check (through no fault of my own) a few weeks ago and was charged a $34 fee. When I called their customer service to ask about reversing the fee, their answer was a flat-out no. They treated me like an inconvenience and it made me really mad. I also do not care for their website or mobile app. I think they are both poorly designed and do not work well. Overall I am considering switching banks and would not recommend this credit union to others.
|Return on Assets - YTD||0.69%|
|Return on Equity - YTD||6.55%|
|Annual Interest Income||$101.4MM|
|Assets and Liabilities|
|Assets||Q4 2019vs Q4 2018||$2.83B$2.67B|
|Loans||Q4 2019vs Q4 2018||$2.22B$2.18B|
|Deposits||Q4 2019vs Q4 2018||$2.52B$2.38B|
|Equity Capital||Q4 2019vs Q4 2018||$297.3MM$277.5MM|
|Loan Loss Allowance||Q4 2019vs Q4 2018||$8.5MM$11.6MM|
|Unbacked Noncurrent Loans||Q4 2019vs Q4 2018||$24.1MM$20.7MM|
|Real Estate Owned||Q4 2019vs Q4 2018||$0$44.00K|
Rates for Premier America Credit Union are currently being reviewed.