Membership in Spectrum Credit Union is open to anyone through joining the Contra Costa County Historical Society ($20 membership fee) or the Navy League of the United States ($25 annual membership fee).
Membership is also open to the following: 1) those who live, work, attend school or worship in Russian Hill, Telegraph Hill, North Beach, Potrero Hill, Chinatown, Financial District, Western Addition, Hunters Point, South of Market, The Panhandle, The Mission, Bernal Heights, Bayview, Portola, or Visitacion Valley neighborhoods in San Francisco, California; 2) those who live, work, attend school or worship in Frederick County in Maryland (including Frederick, Emmitsburg, Thurmont, Woodsboro, and other surrounding areas); 3) employees of Charles Schwab & Co. Inc. who work in or are paid from San Francisco, California; 4) non-manual employees of Bechtel Corporation, its wholly-owned subsidiaries, and affiliated companies; 5) U.S. members and employees of Safari Club International or the Project Management Institute; 6) immediate family of current members.
See current membership details
Joined Spectrum Credit Union by becoming a member of Contra Costa County Historical Society. Fillable form is available online. Current $15 special application fee has to be to be mailed in to Spectrum Credit Union or handed in at a local branch, according to this application form.
Only to find out later, Contra Costa County Historical Society membership application needs to be uploaded in Spectrum Credit Union membership application process. Early version of PDF is not accepted. In my case, I had to email it in as an attachment.
Initial $25 Primary Share requirement can be funded via ACH.
Spectrum Credit Union is part of Chevron Credit Union. For deposit account, only Chexsystem is utilized, no credit check.
All forms are signed via DocuSign.
CSRs are very helpful and courteous. If there is a long phone wait, you can leave your phone number and they do call you back promptly.
With this virus situation, it was a bit difficult to open a CD. I became an eligible member by joining the Contra Costa County Historical Society. Originally, Spectrum wanted a document showing I had joined the Historical Society. But the Society is shut down due to the COVID 19 situation. I went ahead and turned in my completed application form and that sufficed.
The only other odd thing was Spectrum does not do micro deposits to verify and set up the ACH transfer. Rather one has to mail a check.
The staff has, without exception, been very nice and responsive. They call you back if there is going to be a long wait time.
Keep at it if you start the process. You'll make it after a few phone calls to clarify how to navigate the internet application process.
|Return on Assets - YTD||0.12%|
|Return on Equity - YTD||1.03%|
|Annual Interest Income||$127.7MM|
|Assets and Liabilities|
|Assets||Q4 2019vs Q4 2018||$3.58B$3.34B|
|Loans||Q4 2019vs Q4 2018||$3.02B$2.81B|
|Deposits||Q4 2019vs Q4 2018||$3.15B$2.93B|
|Equity Capital||Q4 2019vs Q4 2018||$406.8MM$394.4MM|
|Loan Loss Allowance||Q4 2019vs Q4 2018||$9.5MM$8.9MM|
|Unbacked Noncurrent Loans||Q4 2019vs Q4 2018||$8.2MM$6.5MM|
|Real Estate Owned||Q4 2019vs Q4 2018||$30.00K$0|
Rates for Spectrum Credit Union are currently being reviewed.