SchoolsFirst Federal Credit Union

Overview / Commentary
2115 N Broadway
Santa Ana, CA 92706

SchoolsFirst Federal Credit Union is headquartered in Santa Ana and is the largest credit union in the state of California. It is also the 5th largest credit union in the nation. It was established in 1934 and as of March of 2019, it had grown to 1,728 employees and 882,974 members at 55 locations. SchoolsFirst Federal Credit Union's CD rates are 3X the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Membership in SchoolsFirst Federal Credit Union is open to employees and retirees of public or private schools, community colleges, authorized universities or colleges, or members of authorized education foundations in Imperial, San Diego, Kern, Riverside, San Luis Obispo, Los Angeles, Orange, Santa Barbara, or Ventura Counties in California.
See current membership details

Related Posts

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Cypress (CA) Branch Is Five Star Always!!

Posted by: ocsteve | Feb 27, 2018

I have been a Schools First FCU member for 41 years. I started as a member of ORCO FCU that was at CSUF, but later was merged into Orange County Teachers FCU (later renamed Schools First FCU).

I live very close to the Cypress, CA branch. Everyone at that branch are super!! From Laurie on the front desk to all the tellers and also the new accounts staff. Even the branch Manager helps out when the branch gets busy. My whole family has memberships here also.

The CU has helped me through family member deaths and delayed closing of accounts and distributions to joint or POD account holders They will print 12 checks for accounts that I do not use much, so that saves me check printing charges too.

Christmas special new currency orders are easy to do. On-line account access is easy, as is frequent transfers to other family member accounts. On transfers you even get maybe 40-50 character explanations that can be added and be visible to both the sender and receiver. This is really helpful as I am an accountant and like to remember the purpose of each transfers.

The staff at this Cypress branch are very helpful and work to get you out the door as soon as possible. The accuracy of transactions is very good also. This branch even has two coin counting machines that you can use for no fee.

Love this credit union

I love this bank. I joined because I was a teacher in the area. I like that there are no fees associated with their accounts. They also offer great rates compared to other regular banks. I have a checking account, savings account, and a retirement (457) account with them. While no banks have exceptional savings account rates at the moment, this bank is consistently near the top so you never need to worry about potentially throwing away money when interest rates do rise. On top of the financial reasons to stay with this bank, they also have the friendliest staff of any bank that I've ever been a member of. I would almost prefer to go into the bank rather than use an ATM just because they are a pleasure to talk to. They have many branches in the Southern California area, plus ATMs all over the place as well. All in all I highly recommend Schools First Federal Credit Union.

Schools First put You First

Schools First Credit Union is a great credit union to bank with. I come from from banking with traditional banks in my city. The large corporation banks. I transitioned over to Schools First when I go the opportunity to do so, as a result of a parent involvement in the local school district. I discovered that this credit union really puts its member first. Customer service is high and my personal satisfaction is even higher. I love how this credit union operates. The offer low rates and fees on everything. I recently applied for a small loan and was approve is no time. Lending fees were lower rates than other traditional banks in the area. The only downside I have is when I need to pull out or put in money I have to physically walk into the credit union. This is only a problem because there is only one bank in my city. I deal with the customer service representatives online and in personal on a monthly basis. They are really friendly.

Forget the banks!

Posted by: Jngo | Oct 11, 2016

I started banking with them since 2013 and I get more satisfied with switching over to them from Bank of America every year. I've used numerous products from them such as an auto loan, credit cards, savings, and checking accounts. They are way more customer oriented than a traditional bank. Even their lobbies are more welcoming with most locations I've been to offering sweets and coffee. The workers are always pleasant and extremely helpful, the wait times are short if there even is any. Their Savings and Checking accounts offer much more interest per year than a bank, my summer saver account gets up to 3%! The only drawback is you have to be a school employee or be related to one to open an account. I was very happy with making the switch and I'm sure you will too!



Health Grade Components

NCUA #24212
Year Chartered1934
Primary Regulator
Profit Margin
Return on Assets - YTD1.14%
Return on Equity - YTD9.94%
Annual Interest Income$139.4MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$15.88B$14.75B
LoansQ1 2019vs Q1 2018$8.96B$7.74B
DepositsQ1 2019vs Q1 2018$13.62B$12.66B
Equity CapitalQ1 2019vs Q1 2018$1.78B$1.61B
Loan Loss AllowanceQ1 2019vs Q1 2018$65.8MM$61.6MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$40.0MM$38.6MM
Real Estate OwnedQ1 2019vs Q1 2018$0$256.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

SchoolsFirst Federal Credit Union Savings Account Rates

4.00%--Summer Saver - School Employees Only
4.00%--Paycheck Planner - School Employees Only
0.55%$10-Accumulation IRA
0.10%$5-Share Savings
0.10%$5-JV Club Account
0.10%$5-Varsity Club Account

SchoolsFirst Federal Credit Union Money Market Rates

0.75%*$100k*-Liquid Advantage Money Market
OTHER TIERS: 0.30% $2k - $10k | 0.40% $10k - $25k | 0.55% $25k - $50k | 0.65% $50k - $100k

SchoolsFirst Federal Credit Union Checking Account Rates

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

SchoolsFirst Federal Credit Union CD Rates

3.75%$50-60 Month Deferred Compensation Certificate - School Employees Only
3.25%$50-36 Month Deferred Compensation Certificate - School Employees Only
2.90%*$100k*-60 Month Share Certificate
OTHER TIERS: 2.75% $500 - $20k | 2.80% $20k - $50k | 2.85% $50k - $100k
2.75%$50-12 Month Deferred Compensation Certificate - School Employees Only
2.70%*$100k*-48 - 59 Month Share Certificate
OTHER TIERS: 2.55% $500 - $20k | 2.60% $20k - $50k | 2.65% $50k - $100k
2.60%*$100k*-18 - 23 Month Share Certificate
OTHER TIERS: 2.45% $500 - $20k | 2.50% $20k - $50k | 2.55% $50k - $100k
2.60%*$100k*-36 - 47 Month Share Certificate
OTHER TIERS: 2.45% $500 - $20k | 2.50% $20k - $50k | 2.55% $50k - $100k
2.55%*$100k*-24 - 35 Month Share Certificate
OTHER TIERS: 2.40% $500 - $20k | 2.45% $20k - $50k | 2.50% $50k - $100k
2.35%*$100k*-12 - 17 Month Share Certificate
OTHER TIERS: 2.20% $500 - $20k | 2.25% $20k - $50k | 2.30% $50k - $100k
2.30%$200-12 Month College Saver
2.10%*$100k*-6 - 11 Month Share Certificate
OTHER TIERS: 1.95% $500 - $20k | 2.00% $20k - $50k | 2.05% $50k - $100k
1.50%*$100k*-3 - 5 Month Share Certificate
OTHER TIERS: 1.35% $500 - $20k | 1.40% $20k - $50k | 1.45% $50k - $100k
0.85%*$100k*-30 Day Share Certificate
OTHER TIERS: 0.50% $500 - $20k | 0.65% $20k - $50k | 0.75% $50k - $100k
0.55%--6 - 18 Month My Club Certificate

SchoolsFirst Federal Credit Union IRA Rates

2.95%*$100k*-60 Month IRA Certificate
OTHER TIERS: 2.80% $500 - $20k | 2.85% $20k - $50k | 2.90% $50k - $100k
2.85%$100-12 Month Coverdell Education Savings Account
2.75%*$100k*-48 - 59 Month IRA Certificate
OTHER TIERS: 2.60% $500 - $20k | 2.65% $20k - $50k | 2.70% $50k - $100k
2.65%*$100k*-18 - 23 Month IRA Certificate
OTHER TIERS: 2.50% $500 - $20k | 2.55% $20k - $50k | 2.60% $50k - $100k
2.65%*$100k*-36 - 47 Month IRA Certificate
OTHER TIERS: 2.50% $500 - $20k | 2.55% $20k - $50k | 2.60% $50k - $100k
2.60%*$100k*-24 - 35 Month IRA Certificate
OTHER TIERS: 2.45% $500 - $20k | 2.50% $20k - $50k | 2.55% $50k - $100k
2.40%*$100k*-12 - 17 Month IRA Certificate
OTHER TIERS: 2.25% $500 - $20k | 2.30% $20k - $50k | 2.35% $50k - $100k
2.15%*$100k*-6 - 11 Month IRA Certificate
OTHER TIERS: 2.00% $500 - $20k | 2.05% $20k - $50k | 2.10% $50k - $100k
1.55%*$100k*-3 - 5 Month IRA Certificate
OTHER TIERS: 1.40% $500 - $20k | 1.45% $20k - $50k | 1.50% $50k - $100k
0.90%*$100k*-30 Day IRA Certificate
OTHER TIERS: 0.55% $500 - $20k | 0.70% $20k - $50k | 0.80% $50k - $100k


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