Featured Savings Rates
Featured Accounts

Schools Financial Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
1.47%5-year CD60 Month Premium Rate CD
0.30%1-year CD12 Month Premium Rate Add-On CD
0.10%SavingsSummer Reserve

Overview / Commentary
916-569-5400
1485 Response Rd Ste 126
Sacramento, CA 95815

Schools Financial Credit Union is headquartered in Sacramento and is the 22nd largest credit union in the state of California. It is also the 129th largest credit union in the nation. It was established in 1933 and as of September of 2016, it had grown to 267 employees and 132,082 members at 12 locations. Schools Financial Credit Union's savings rates are 13X the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Membership in Schools Financial Credit Union is open to the following: (1) those who live, work, attend school or worship in Sacramento, El Dorado, Placer, Sutter, Yuba, Butte, Nevada, San Joaquin, Solano and Yolo counties in California; (2) employees or retirees of California public and licensed private schools; (3) mployees of the California School Boards Association; (4) active or lifetime members of the California Teachers Association; (5) students and Alumni Association members of California institutions of higher education.
See current membership details

Reviews (4)

I Made The Change...

Posted by: rjenkins | Mar 6, 2011

I was always on the fence when it came to credit unions, but about five years ago when I moved to the Roseville area for a teaching job I sought out Schools in order to help me secure a car loan. The people there were friendly, and I got all the support I could ask for. At the same time, I was a long time customer of a nationally recognized bank and did not have plans to change everything over to a new company at this point in my life. However, as banks continued to make changes that seemed less and less customer friendly, I decided this past year to make the change and do all my banking through Schools Credit Union. I wish I would done this five years ago! Their customer support is great...I called in one time when there was an error and I actually spoke with a real live person within seconds of making the call unlike my old bank where it took a whole bunch of buttons being pushed, transfers, holds, etc. Their website is great too, with everything right there easy to see with no hidden mumbo jumbo. On top of this, because of their relationship with other credit unions, I can go to a different one down the street from my house and take out cash for free, where before my bank was ten minutes farther away, and if I used anyone else I got assessed fees from both the ATM and my bank! Anyway, I am so glad I made the switch to Schools. I can't imagine going back to a mega-bank!

Stay Away From This Bank

Posted by: bugmenot | Mar 31, 2012

They have a lot of annoying fees and expensive services compared to other banks. There are a lot of fees associated with their Bill Pay service, I would highly recommend against it. Direct deposit is the only safe way to get intrest from them.

Unexpected Funds Withdrawal And Fees For Billpay Service

Posted by: Anonymous | Feb 21, 2012

Frustration in dealing with their BillPay service and their customer service afterward. Ripped up a billpay check and transferred the funds to another account, not knowing it was going to be withdrawn from my account EVEN IF THE PAYEE didn't cash it! Was charged not one, but TWO overdrawn fees, and had the customer service rep insist she could not remove those fees from the account because it was in the "Billpay Disclosure" that fees would be withdrawn from the account. She was unable to tell me where it said that (I'm sure it was in fine print somewhere). She was civil enough, but I nonetheless decided this was one unpredictable fee too many (there have been others) to be worth keeping my account here.

Cashier Check

Posted by: teetee1 | Sep 16, 2011

I 've never heard of these people, a cashier check  was deliver to my home for the amount of 2, 400.00 with note date or any kind of bank posted on it.  I mean does stupid look written across my forehead.  People are so full of scams i tore the check up.  If you never had any dealings with these folks on the phone, DON'T FALL FOR IT.   No one is giving away money FREE.



Health
A+

Health Grade Components

Overall
NCUA #68398
Year Chartered1933
Employees267
Primary Regulator
Profit Margin
Return on Assets - YTD0.96%
Return on Equity - YTD9%
Annual Interest Income$34.0MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$1.75B$1.59B
LoansQ3 2016vs Q3 2015$1.02B$856.0MM
DepositsQ3 2016vs Q3 2015$1.55B$1.41B
Equity CapitalQ3 2016vs Q3 2015$185.9MM$170.1MM
Loan Loss AllowanceQ3 2016vs Q3 2015$6.2MM$5.5MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$3.0MM$2.7MM
Real Estate OwnedQ3 2016vs Q3 2015$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Schools Financial Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
7.00%-$500Banking for Everyone Savings
7.00%-$500Banking for Youth
0.25%*$100k*-IRA Savings
OTHER TIERS: 0.10% Up to $10k | 0.15% $10k - $20k | 0.20% $20k - $100k
0.25%*$100k*-Deferred Compensation Share Account
OTHER TIERS: 0.10% Up to $10k | 0.15% $10k - $20k | 0.20% $20k - $100k
0.25%*$100k*-CESA Savings
OTHER TIERS: 0.10% Up to $10k | 0.15% $10k - $20k | 0.20% $20k - $100k
0.20%*$50k*-Super$hare Account
OTHER TIERS: 0.05% Up to $2,500 | 0.10% $2,500 - $10k | 0.15% $10k - $50k
0.10%--Summer Reserve
0.10%--Holiday Savings

Schools Financial Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$100k*-Premier Money Market
OTHER TIERS: 0.10% Up to $20k | 0.20% $20k - $100k
0.05%--Premier Money Market Checking

Schools Financial Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%--Interest Checking

Schools Financial Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.47%$1k-60 Month Premium Rate CD
1.47%$500$50k60 Month Deferred Compensation CD
1.08%$1k-48 Month Premium Rate CD
1.08%$500$50k48 Month Deferred Compensation CD
0.85%$1k-36 Month Premium Rate CD
0.85%$500$50k36 Month Deferred Compensation CD
0.50%$1k-30 Month Premium Rate CD
0.50%$10k-30 Month Premium Rate Opt-Up CD
0.50%$500$50k30 Month Deferred Compensation CD
0.50%$10k-30 Month Opt-Up Deferred Compensation CD
0.30%$1k-12 Month Premium Rate CD
0.30%$200-12 Month Premium Rate College Saver
0.30%$10k-12 Month Premium Rate Add-On CD
0.30%$500$50k12 Month Deferred Compensation CD
0.30%$10k-12 Month Add-On Deferred Compensation CD
0.25%$1k-6 Month Premium Rate CD
0.25%$500$50k6 Month Deferred Compensation CD
0.10%$1k-3 Month Premium Rate CD
0.10%$500$50k3 Month Deferred Compensation CD

Schools Financial Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.47%$500$50k60 Month IRA
1.08%$500$50k48 Month IRA
0.85%$500$50k36 Month IRA
0.50%$10k-30 Month Opt-Up IRA
0.50%$500$50k30 Month IRA
0.30%$10k-12 Month Add-On IRA
0.30%$500$50k12 Month IRA
0.25%$500$50k6 Month IRA
0.10%$500$50k3 Month IRA
Locations

Schools Financial Credit Union has 12 locations. Click to view all Schools Financial Credit Union locations.