Schools Financial Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 7.00% | Reward Savings | 0.95% - National Average |
| 2.50% | 5-year CD | |
| 1.40% | 1-year CD | 1.30% - National Average |
Schools Financial Credit Union is headquartered in Sacramento and is the 23rd largest credit union in the state of California. It is also the 130th largest credit union in the nation. It was established in 1933 and as of September of 2018, it had grown to 290 employees and 151,897 members at 12 locations. Schools Financial Credit Union's money market rates are 3X the national average, and it has 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, Napa 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
I Made The Change...
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
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
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
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 Grade Components
| Overall | |
|---|---|
| NCUA # | 68398 |
| Year Chartered | 1933 |
| Employees | 290 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.38% |
| Return on Equity - YTD | 12.44% |
| Annual Interest Income | $44.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2018vs Q3 2017 | $1.98B$1.89B |
| Loans | Q3 2018vs Q3 2017 | $1.47B$1.24B |
| Deposits | Q3 2018vs Q3 2017 | $1.74B$1.67B |
| Equity Capital | Q3 2018vs Q3 2017 | $220.3MM$199.7MM |
| Loan Loss Allowance | Q3 2018vs Q3 2017 | $8.2MM$7.3MM |
| Unbacked Noncurrent Loans | Q3 2018vs Q3 2017 | $3.8MM$3.7MM |
| Real Estate Owned | Q3 2018vs Q3 2017 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Schools Financial 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 Financial Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 7.00%* | $1 | $500 | Banking for Everyone Savings | ||
| OTHER TIERS: 0.10% → $500+ | |||||
| 7.00%* | $1 | $500 | Banking for Youth | ||
| OTHER TIERS: 0.10% → $500+ | |||||
| 0.65%* | $50k* | - | Super$hare Account | ||
| OTHER TIERS: 0.40% → Up to $2.5k | 0.55% → $2.5k - $10k | 0.60% → $10k - $50k | |||||
| 0.40%* | $100k* | - | IRA Savings | ||
| OTHER TIERS: 0.30% → Up to $20k | 0.35% → $20k - $100k | |||||
| 0.40%* | $100k* | - | Deferred Compensation Share Account | ||
| OTHER TIERS: 0.30% → Up to $20k | 0.35% → $20k - $100k | |||||
| 0.10% | $1 | - | Summer Reserve | ||
| 0.10% | $1 | - | Holiday Savings | ||
Schools Financial Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.14%* | $100k* | - | Premier Money Market Checking | ||
| OTHER TIERS: 0.25% → Up to $20k | 0.60% → $20k - $100k | |||||
| 0.75%* | $100k* | - | Premier Money Market | ||
| OTHER TIERS: 0.40% → Up to $20k | 0.70% → $20k - $100k | |||||
Schools Financial Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.05% | - | - | Interest Checking | |
| 0.05% | - | - | Business Checking |
Schools Financial Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.50% | $1k | - | 60 Month Premium Rate CD | |
| 2.50% | $500 | $50k | 60 Month Deferred Compensation CD | |
| 2.35% | $10k | - | 30 Month Premium Rate Opt-Up CD | |
| 2.35% | $10k | - | 30 Month Opt-Up Deferred Compensation CD | |
| 2.20% | $1k | - | 48 Month Premium Rate CD | |
| 2.20% | $500 | $50k | 48 Month Deferred Compensation CD | |
| 2.00% | $1k | - | 36 Month Premium Rate CD | |
| 2.00% | $500 | $50k | 36 Month Deferred Compensation CD | |
| 2.00% | $10k | - | 9 Month Super Rate CD | |
| 2.00% | $10k | - | 9 Month Super Rate Deferred Compensation CD | |
| 1.70% | $1k | - | 24 Month Premium Rate CD | |
| 1.70% | $500 | $50k | 24 Month Deferred Compensation CD | |
| 1.60% | $1k | - | 30 Month Premium Rate CD | |
| 1.60% | $500 | $50k | 30 Month Deferred Compensation CD | |
| 1.55% | $1k | - | 18 Month Premium Rate CD | |
| 1.55% | $500 | $50k | 18 Month Deferred Compensation CD | |
| 1.40% | $1k | - | 12 Month Premium Rate CD | |
| 1.40% | $200 | - | 12 Month Premium Rate College Saver | |
| 1.40% | $10k | - | 12 Month Premium Rate Add-On CD | |
| 1.40% | $500 | $50k | 12 Month Deferred Compensation CD | |
| 1.40% | $10k | - | 12 Month Add-On Deferred Compensation CD | |
| 1.20% | $1k | - | 6 Month Premium Rate CD | |
| 1.20% | $500 | $50k | 6 Month Deferred Compensation CD | |
| 1.00% | $1k | - | 3 Month Premium Rate CD | |
| 1.00% | $500 | $50k | 3 Month Deferred Compensation CD |
Schools Financial Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.50% | $500 | $50k | 60 Month IRA | |
| 2.35% | $10k | - | 30 Month Opt-Up IRA | |
| 2.20% | $500 | $50k | 48 Month IRA | |
| 2.00% | $500 | $50k | 36 Month IRA | |
| 2.00% | $10k | - | 9 Month Super Rate IRA | |
| 1.70% | $500 | $50k | 24 Month IRA | |
| 1.60% | $500 | $50k | 30 Month IRA | |
| 1.55% | $500 | $50k | 18 Month IRA | |
| 1.40% | $10k | - | 12 Month Add-On IRA | |
| 1.40% | $500 | $50k | 12 Month IRA | |
| 1.20% | $500 | $50k | 6 Month IRA | |
| 1.00% | $500 | $50k | 3 Month IRA |
