by Schools Plus
The California Credit Union was established solely to serve the educational community in order to provide members with a unique and specialized service containing financial resources combined with personalized services. The great idea for educators to pool money for the mutual benefit of union members started in the early 1930′s and in the same year it grew to nearly a hundred members, with $800 in deposits.
Since those years, the California Credit Union grew into a huge and very successful credit union, with over 70,000 members with over $1.3 billion in assets. Los Angeles County serves its members with 14 branch locations, call centers, website and online banking system, truly ensuring convenience as well as personalization to its members.
The success of the union is attributed to a simple and effective philosophy, namely that unlike banks, which benefit only selective stockholders a union benefits all its members. The reduced loan rates, reduced fees and higher savings rates are all to benefit its members and not anyone in particular or selective people only.
It is distinctly a member-owned financial institution, which deals with secure and stable services and products. Any funds deposited are federally insured up to $250,000 by the NCUA. Financial reviews are done on a regular basis by independent auditors and reports are available to all members of California Credit Union as well as the general public.
The California Credit Union supports and endorses several programs as well as scholarships. This year, deserving students will be receiving 10 scholarships in the Los Angeles County to the amount of $1,000 each. Applicants include community college students, returning adult students in the pursuit of a higher education as well as high school seniors.
Members enjoy many great benefits, including cash rewards, insurance, discounted gift cards, companion airfare and many more. Security is taken very seriously, thus they offer Fraud Protection Plus, which provides enhanced services and protection benefits for members and their families. Travel savings programs are also offered to members and their families with their CuonVacation program.
Membership at the California Credit Union is open to any private or public school employee, senior year teaching students, members of the California retired teachers association, as well as employees of the Los Angeles County Office. Individuals also qualify for membership when an immediate relative of one of the existing members. Public television contributor, America scouting member, Alumni association member, and California school student body members can also apply for membership to the union.