Wescom Credit Union is headquartered in Pasadena and is the 11th largest credit union in the state of California. It is also the 54th largest credit union in the nation. It was established in 1934 and as of June of 2024, it had grown to 962 employees and 247,718 members at 30 locations. Wescom Credit Union's CD rates are 4X the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in Wescom Credit Union is open to those who live, work, worship, or attend school in the California counties of Imperial, Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara, or Ventura. UCLA alumnus are eligible to join, regardless of where they live.
See current membership details
Related Posts
2/25/19 - 13-Month Certificate, 2.85% APY
2/28/17 - Up To $200 Checking Account Bonus In Socal
1/15/16 - 2.50% 5 Yrs
8/27/14 - Transitional IRA 2.40% APY At Wescom Central Credit Union
2/2/08 - 10% 7-Month CD ($1K Max) and $50 Direct Deposit Bonus at SoCal CU (Wescom).
6/11/07 - 10% 7-Month CD ($1K Max) and $50 Direct Deposit Bonus at SoCal CU (Wescom) - Update
3/30/07 - 10% 7-Month CD ($1K Max) and $50 Direct Deposit Bonus at SoCal CU (Wescom)
2/9/07 - 7.00% 7-Month CD at a California CU - $7K Max (Wescom)
11/2/06 - 10% 7-Month CD at a California CU - $1K Max (Wescom). - Update
9/2/06 - 10% 7-Month CD at a California CU - $1K Max (Wescom).
Smooth Opening
Opened a 4.9% CD a while ago and the sign up was super easy. Got an email in a half hour. You can only fund a CD through their savings account, so a wire is the way to go.
I Suggest You Go Elsewhere
I had an account at Wescom for about 20 years, until I finally wised up! The interest paid on checking and savings accounts amounted to fractions of a cent on the dollar. The service was getting poorer and they closed all locations in San Diego county, where I live. That was the last straw! How do you abandon your customers after so many years and not have a branch to go into within 75 miles of my home? I took my hard earned money and parked it at another institution paying me more than 400% better interest rate than did Wescom. They were still better than a "Big Bank" but not by much!
Asking Way Too Much For Simple Credit Card Opening
They want to take photo of my driver license, storing on their DB waiting to be hacked. I reluctantly complied then they want my pay stub, which is my limit of giving so much person info for simple credit card opening. Now they are likely stole all my info and either sell me stuff or sell my info.
Fantastic Interest Rates
I've only been a member for a short time but so far so good. I have nothing but positive things to say about this credit union! Love their interest rates... Don't believe me, compare their rates to any of the bigger banks.
Bank At Your Own Risk
Avoid this deposit institution you will see fraud charges on your account, and you will wonder what is happening and the slowness of calling to speak to a person, the inability to receive your card faster than 7-10 days the random apple.com transactions is enough to just decide enough is enough. The mobile app needs a lot of work, low quality, doesn't work on weekends or nights when they cannot hire someone to manage the fraud during non-business hours. Zelle takes forever funds are always on hold 50 dollars on hold, really and continues to blame the other institutions of the problems ok last one, the only learn with lawsuits, to fix these issues.
I believe it's crucial for financial institutions to proactively address these concerns and seek effective solutions. Learning from past experiences and avoiding legal action can contribute significantly to building trust and loyalty among customers.
AVOID AVOID AVOID
Have had my account for 90 days. They do the whole reordering of transactions to get overdraft fees. It’s infuriating. They don’t update your balance for days and the displayed BALANCES - yes there are two balances- are not accurate so they can confuse you, approve some transactions, return some, then charge you. They charge a monthly fee. Their app sucks. I wrote a check to myself from another account. The outside account was closed because the bank was bought out without notice to me but Wescom still claimed it was fraud and closed my account without warning. Seriously the absolute worst. Every call to customer service lasts 45 plus minutes. NIGHTMARE. I found Axos an online bank and they are AMAZING!!! They have checks, atms for free including cash deposits, wires, and zero fees for ANYTHING EVER. Wescom sucks, Axos brilliant!
WHAT HAPPENED???
I have been with Wescom since 1997. They have always been outstanding.....until recently. We have had numerous instances of fraud on our account which has resulted in multiple Debit card replacements. I went into the Ontario branch last week for yet another replacement card. The bank teller proceeded to politely threaten to suspend my debit card "privileges". I was willing to overlook this blatant faux pas until this morning. Evidently ALL of my international debit card "privileges" have been suspended. I have family in the UK and REQUIRE a banking institution which is capable of processing international transactions on a regular basis. Two calls were placed to Wescom, only to be told that nothing appears wrong on their end. Currently awaiting a returned call from a supervisor.....it has been over 3 hours now. Needless to say, we are currently shopping for a new credit union. Choose your banking institutions wisely!
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 66703 |
| Year Chartered | 1934 |
| Employees | 962 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.3% |
| Return on Equity - YTD | 7.23% |
| Annual Interest Income | $143MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $6.48B$6.01B |
| Loans | Q2 2024vs Q2 2023 | $3.31B$3.14B |
| Deposits | Q2 2024vs Q2 2023 | $4.5B$4.4B |
| Equity Capital | Q2 2024vs Q2 2023 | $262.9MM$214.9MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $42.5MM$42.8MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $10.3MM$4.2MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |
