Schools Financial Credit Union

Overview / Commentary
1485 Response Rd Ste 126
Sacramento, CA 95815

Schools Financial Credit Union is headquartered in Sacramento and is the 24th largest credit union in the state of California. It is also the 132nd largest credit union in the nation. It was established in 1933 and as of June of 2019, it had grown to 297 employees and 156,952 members at 12 locations. Schools Financial Credit Union's money market rates are 93% higher than 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, 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

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 Grade Components

NCUA #68398
Year Chartered1933
Primary Regulator
Profit Margin
Return on Assets - YTD1.98%
Return on Equity - YTD16.16%
Annual Interest Income$34.5MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$2.09B$1.98B
LoansQ2 2019vs Q2 2018$1.55B$1.37B
DepositsQ2 2019vs Q2 2018$1.81B$1.75B
Equity CapitalQ2 2019vs Q2 2018$254.1MM$214.2MM
Loan Loss AllowanceQ2 2019vs Q2 2018$8.9MM$8.0MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$3.9MM$3.6MM
Real Estate OwnedQ2 2019vs Q2 2018$0$0
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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

7.00%*$1$500Banking for Everyone Savings
OTHER TIERS: 0.10% $500+
7.00%*$1$500Banking for Youth
OTHER TIERS: 0.10% $500+
0.70%*$100k*-Super$hare Account
OTHER TIERS: 0.15% Up to $2k | 0.35% $2k - $10k | 0.45% $10k - $25k | 0.55% $25k - $50k | 0.65% $50k - $100k
0.40%*$20k*-IRA Savings
OTHER TIERS: 0.35% Up to $20k
0.40%*$20k*-Deferred Compensation Share Account
OTHER TIERS: 0.35% Up to $20k
0.10%$1-Summer Reserve
0.10%$1-Holiday Savings

Schools Financial Credit Union Money Market Rates

0.85%*$100k*-Premier Money Market Checking
OTHER TIERS: 0.10% Up to $2k | 0.25% $2k - $10k | 0.50% $10k - $25k | 0.60% $25k - $50k | 0.65% $50k - $100k
0.70%*$100k*-Premier Money Market
OTHER TIERS: 0.15% Up to $2k | 0.30% $2k - $10k | 0.45% $10k - $25k | 0.55% $25k - $50k | 0.65% $50k - $100k

Schools Financial Credit Union Checking Account Rates

0.10%*$100k*-Interest Checking
OTHER TIERS: 0.05% Up to $25k | 0.08% $25k - $100k
0.10%*$100k*-Business Checking
OTHER TIERS: 0.05% Up to $25k | 0.08% $25k - $100k

Schools Financial Credit Union CD Rates

2.55%$1k$50k60 Month Premium Rate CD
2.55%$500$50k60 Month Deferred Compensation CD
2.50%$1k$50k48 Month Premium Rate CD
2.50%$500$50k48 Month Deferred Compensation CD
2.40%$1k$50k36 Month Premium Rate CD
2.40%$500$50k36 Month Deferred Compensation CD
2.25%$1k$50k18 Month Premium Rate CD
2.25%$500$50k18 Month Deferred Compensation CD
2.10%$1k$50k30 Month Premium Rate CD
2.10%$500$50k30 Month Deferred Compensation CD
2.10%$1k$50k24 Month Premium Rate CD
2.10%$500$50k24 Month Deferred Compensation CD
1.85%$10k-30 Month Premium Rate Opt-Up CD
1.85%$10k-30 Month Opt-Up Deferred Compensation CD
1.75%$10k-9 Month Super Rate CD
1.75%$10k-9 Month Super Rate Deferred Compensation CD
1.70%$1k$50k12 Month Premium Rate CD
1.70%$200-12 Month Premium Rate College Saver
1.70%$10k-12 Month Premium Rate Add-On CD
1.70%$500$50k12 Month Deferred Compensation CD
1.70%$10k-12 Month Add-On Deferred Compensation CD
1.35%$1k$50k6 Month Premium Rate CD
1.35%$500$50k6 Month Deferred Compensation CD
1.10%$1k$50k3 Month Premium Rate CD
1.10%$500$50k3 Month Deferred Compensation CD

Schools Financial Credit Union IRA Rates

2.55%$500$50k60 Month IRA
2.50%$500$50k48 Month IRA
2.40%$500$50k36 Month IRA
2.25%$500$50k18 Month IRA
2.10%$500$50k30 Month IRA
2.10%$500$50k24 Month IRA
1.85%$10k-30 Month Opt-Up IRA
1.75%$10k-9 Month Super Rate IRA
1.70%$10k-12 Month Add-On IRA
1.70%$500$50k12 Month IRA
1.35%$500$50k6 Month IRA
1.10%$500$50k3 Month IRA


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