Schools Federal Credit Union is headquartered in Torrance and is the 130th largest credit union in the state of California. It is also the 1,345th largest credit union in the nation. It was established in 1939 and as of March of 2022, it had grown to 33 employees and 15,292 members at 2 locations. Schools Federal Credit Union has an A health rating.
Membership in Schools Federal Credit Union is open to employees and registered students of of the Los Angeles Unified School District or the Los Angeles Community College District.
See current membership details
Worst financial decision I made in 2013 was doing business with Schools Federal Credit Union.
Customer service was terrible (with the exception of one individual). They do everything different than any other bank or credit union and it all moves at glacial speed.
But the worst is the way they advertise a high interest rate for savings and then reduce it by more than 90% retroactively based on a footnote on their rate page. In other words, they have your money for almost three months and then decide not to pay you the interest they advertised. Classic bait and switch. Avoid this company like the plague!
Overall | |
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NCUA # | 3526 |
Year Chartered | 1939 |
Employees | 33 |
Primary Regulator |
Profit Margin | |
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Return on Assets - YTD | 0.44% |
Return on Equity - YTD | 3.99% |
Annual Interest Income | $1.2MM |
Assets and Liabilities | ||
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Assets | Q1 2022vs Q1 2021 | $178.7MM$163.7MM |
Loans | Q1 2022vs Q1 2021 | $90.6MM$76.0MM |
Deposits | Q1 2022vs Q1 2021 | $156.7MM$143.0MM |
Equity Capital | Q1 2022vs Q1 2021 | $19.3MM$18.9MM |
Loan Loss Allowance | Q1 2022vs Q1 2021 | $1.8MM$2.0MM |
Unbacked Noncurrent Loans | Q1 2022vs Q1 2021 | $641.00K$287.00K |
Real Estate Owned | Q1 2022vs Q1 2021 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Schools Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.45%* | $50k* | - | Premium Money Market | ||
OTHER TIERS: 0.15% → Up to $2.5k | 0.30% → $2.5k - $10k | 0.35% → $10k - $25k | 0.40% → $25k - $50k |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.10%* | $10k* | - | Interest Checking | ||
OTHER TIERS: 0.05% → $2.5k - $10k |
Schools Federal Credit Union Locations | ||
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Branch Office | 20101 Hamilton Ave Ste 150 | Torrance, CA 90502-1306 |
Branch Office | 850 W CESAR E CHAVEZ AVE | LOS ANGELES, CA 90012-2131 |