USC Credit Union is headquartered in Los Angeles and is the 73rd largest credit union in the state of California. It is also the 532nd largest credit union in the nation. It was established in 1973 and as of June of 2022, it had grown to 100 employees and 75,734 members at 2 locations. USC Credit Union's money market rates are 59% higher than the national average, and it has a B health rating.
Field of Membership Restrictions
USC Credit Union membership is open to: (1) Those who live, work, worship or attend school in the City of Los Angeles or Orange County, California. (2) Employees, students, or faculty of the University of Southern California, and members of the USC Alumni Association. (3) Any business, corporation or other legal entity in Los Angeles city or Orange County. (4) Any immediate family or household member, and employees of the Credit Union. (5) Employees of the following employers in the following cities: Los Angeles Child Guidance, Inc., John Tracy Clinic, Health Research Association, and Kenneth Norris Jr. Cancer Hospital in Los Angeles, and Woodbury University in Burbank, California.
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Excellent Credit Union
This credit union really goes out of its way to provide for its customers. I needed a loan for a car, and despite having recently graduated, I was able to get one at a very good rate. This is a credit union that cares about its members, and is more about helping its members get what they need than just eating up more interest. The customer service is great, and all the people I spoke to were very cordial.
USC Credit Union: A lot to like and a lot to not like
I was a customer of USC Credit Union for over five years. I had a checking account and a savings account, both of which were my my primary means of managing money. In some ways, the credit union was state of the art: My direct deposited paychecks arrived like clockwork; they were fair and consistent with hold times for non-payroll checks; I never ran into unexpected or unfair fees from them; the two branches were clean and usually not crowded. But there were a few problems that never improved over the five years: One was the lack of staffing within the bank. Sometimes, transactions with a teller could happen immediately and be done in 30 seconds. Other times, I'd be stuck behind someone with a complicated issue and a 5-minute trip to the credit union on my lunch break turned into a 30-minute ordeal. The second problem is that for a seemingly state-of-the-art financial institution affiliated with a tech-savvy major university, the credit union's website and app were really low-tech and inefficient. Bill paying was either impossible or non-existent. Applying for new accounts or products involved printing out paper forms. The only real capability of the app or website was checking transaction history and even then, some details (time of transaction, funds being held, etc.) were unavailable.
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68459 |
| Year Chartered | 1973 |
| Employees | 100 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.19% |
| Return on Equity - YTD | 3.31% |
| Annual Interest Income | $8.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $754.8MM$741.6MM |
| Loans | Q2 2022vs Q2 2021 | $489.1MM$409.0MM |
| Deposits | Q2 2022vs Q2 2021 | $696.4MM$677.9MM |
| Equity Capital | Q2 2022vs Q2 2021 | $43.8MM$53.8MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $920.00K$2.6MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $3.3MM$1.5MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$0 |