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Schools Federal Credit Union


Overview / Commentary
www.schoolsfcu.org
310-632-0100
20101 Hamilton Ave Ste 150
Torrance, CA 90502

Schools Federal Credit Union is headquartered in Torrance and is the 136th largest credit union in the state of California. It is also the 1,377th largest credit union in the nation. It was established in 1939 and as of March of 2021, it had grown to 31 employees and 15,219 members at 2 locations. Schools Federal Credit Union has an A+ health rating.

Field of Membership Restrictions

Must be an employee of the Los Angeles Unified School District or several other education-related groups.
See current membership details

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Reviews (1)

Worst Credit Union Ever

Posted by: |

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!

2


Health
A+

Data as of Q1 2021

Learn why bank health matters

Health Grade Components

Overall
NCUA #3526
Year Chartered1939
Employees31
Primary Regulator
Profit Margin
Return on Assets - YTD-0.04%
Return on Equity - YTD-0.3%
Annual Interest Income$993.00K
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$163.7MM$131.9MM
LoansQ1 2021vs Q1 2020$76.0MM$75.3MM
DepositsQ1 2021vs Q1 2020$143.0MM$112.3MM
Equity CapitalQ1 2021vs Q1 2020$18.9MM$18.5MM
Loan Loss AllowanceQ1 2021vs Q1 2020$2.0MM$2.2MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$287.00K$455.00K
Real Estate OwnedQ1 2021vs Q1 2020$0$0
Rates
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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.

Schools Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.03%$50-Coverdell Education Savings Account
3.00%--Summer Lifeguard
0.15%$100-IRA Accumulation Account
0.10%*$10k*-Regular Shares
OTHER TIERS: 0.05% → $2.5k - $10k
0.10%*$10k*-Christmas Club
OTHER TIERS: 0.05% → $2.5k - $10k
0.10%*$10k*-"You Name It" Savings
OTHER TIERS: 0.05% → $2.5k - $10k

Schools Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW 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

Schools Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$10k*-Interest Checking
OTHER TIERS: 0.05% → $2.5k - $10k

Schools Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%$5k$50kSpecial 12 Month Relationship CD
1.81%*$90k*-60 Month CD
OTHER TIERS: 1.26% → $500 - $50k | 1.44% → $50k - $90k
1.51%*$90k*-48 - 59 Month CD
OTHER TIERS: 1.11% → $500 - $50k | 1.24% → $50k - $90k
1.31%*$90k*-36 - 47 Month CD
OTHER TIERS: 0.90% → $500 - $50k | 1.04% → $50k - $90k
1.00%*$90k*-24 - 35 Month CD
OTHER TIERS: 0.80% → $500 - $50k | 0.83% → $50k - $90k
0.90%*$90k*-12 - 23 Month CD
OTHER TIERS: 0.70% → $500 - $50k | 0.82% → $50k - $90k
0.85%*$90k*-6 Month CD
OTHER TIERS: 0.65% → $500 - $50k | 0.75% → $50k - $90k

Schools Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.81%*$90k*-60 Month IRA CD
OTHER TIERS: 1.26% → $500 - $50k | 1.44% → $50k - $90k
1.51%*$90k*-48 - 59 Month IRA CD
OTHER TIERS: 1.11% → $500 - $50k | 1.24% → $50k - $90k
1.31%*$90k*-36 - 47 Month IRA CD
OTHER TIERS: 0.90% → $500 - $50k | 1.04% → $50k - $90k
1.00%*$90k*-24 - 35 Month IRA CD
OTHER TIERS: 0.80% → $500 - $50k | 0.83% → $50k - $90k
0.90%*$90k*-12 - 23 Month IRA CD
OTHER TIERS: 0.70% → $500 - $50k | 0.82% → $50k - $90k
0.85%*$90k*-6 Month IRA CD
OTHER TIERS: 0.65% → $500 - $50k | 0.75% → $50k - $90k
0.45%$500-18 Month Special IRA
Locations


Schools Federal Credit Union Locations
Branch Office20101 Hamilton Ave Ste 150Torrance, CA 90502-1306
Branch Office850 W CESAR E CHAVEZ AVELOS ANGELES, CA 90012-2131

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