SESLOC Federal Credit Union is headquartered in San Luis Obispo and is the 54th largest credit union in the state of California. It is also the 373rd largest credit union in the nation. It was established in 1942 and as of June of 2023, it had grown to 183 employees and 58,041 members at 8 locations. SESLOC Federal Credit Union's CD rates are 5X the national average, and it has a B health rating.
Field of Membership Restrictions
Membership in Sesloc Federal Credit Union is open to those who live, work or attend school in the California counties of San Luis Obispo or northern Santa Barbara, and immediate family of existing members.
See current membership details
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Disappointed
I have been a member of SESLOC Credit Union for almost 30 years. My credit score is just over 700 and my credit report will verify that I pay ALL my bills on time, every time.
So when I applied for a personal loan to consolidate my credit card debt that I have accrued before and during the pandemic, I thought my chances were pretty good. Currently, I pay more in credit card payments than I do for rent. I know that if I can consolidate those payments into just one, I can have a little left over every month to buy things like FOOD or perhaps handle an unexpected expense, like car repairs. If I can pay what I'm paying now, I can certainly pay a loan payment - which, according to their own loan calculator, would be 1/2 what I'm paying now.
But NO. And my car wasn't good enough for collateral. They want me to find someone with a "good" income to co-sign. WE ARE JUST COMING OUT OF A PANDEMIC. I don't know anyone with a "good" income anymore.
I am so upset. I feel like my good credit rating, flawless payment history, and 30 year membership at their institution should qualify me for CREDIT from a CREDIT UNION.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 4980 |
| Year Chartered | 1942 |
| Employees | 183 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.33% |
| Return on Equity - YTD | 4.82% |
| Annual Interest Income | $22.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $1.22B$1.22B |
| Loans | Q2 2023vs Q2 2022 | $853.4MM$748.3MM |
| Deposits | Q2 2023vs Q2 2022 | $1.07B$1.12B |
| Equity Capital | Q2 2023vs Q2 2022 | $84.4MM$82.1MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $5.5MM$4.9MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $2.6MM$2.2MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |