5 Things to Know About Credit Unions - California Credit Union and North Island Credit Union (2024)

FAQs

Are California Credit Union and North Island credit union the same? ›

In Los Angeles, Orange, San Bernardino and Ventura Counties, we are known as California Credit Union. In San Diego and Riverside County, we do business as North Island Credit Union, a division of California Credit Union.

Financial Security

We are highly capitalized, with a net worth ratio of 9.66%, which well exceeds regulatory requirements for well capitalized credit unions.

About SchoolsFirst Federal Credit Union

SchoolsFirst FCU was founded in 1934, when 126 school employees pooled $1,200 and established a Member-owned cooperative to help improve each other's lives. In 2022, the Credit Union reported nearly $28 billion in assets and remains the largest credit union in California.

Credit unions focus on member satisfaction. As member-owned organizations, they tend to prioritize their members' needs and provide more personalized service. Credit unions often offer highly competitive interest rates on loans and savings accounts, along with more flexible lending criteria.

Navy Federal is the largest credit union in the country. It has more than 300 branches (which rivals one or two of the biggest banks in the U.S.), mainly in the Northeast, and more than 12 million members, totaling $144 billion in deposits.

Check our app or sign-in online and follow a few simple steps to enroll with Zelle today.

What are the disadvantages of credit unions? ›

We are a federally insured, state chartered credit union that has been proudly serving Californians since 1933.

As part of the conversion process, the decision was made to change the name of the Credit Union to highlight the unique history as the first credit union in the state, First California Federal Credit Union.

By the numbers: Asset size of over $4.5 billion. Nearly 200,000 members. 25 branches across Southern California.

Generally, credit unions are viewed as safer than banks, although deposits at both types of financial institutions are usually insured at the same dollar amounts. The FDIC insures deposits at most banks, and the NCUA insures deposits at most credit unions.

In 2017, North Island Credit Union joined forces with California Credit Union to provide even greater opportunities to Californians throughout the state. A true partnership for the future, California Credit Union further established our roots in the local community and our proud ties to the military.

The credit union also has members in the San Diego area after it acquired North Island Credit Union in 2017, which has since operated under that name as a brand of California CU.

Welcome to your credit union

25 branches across Southern California to serve you. Find one close to you with our ATM locator.

In 1933, California Credit Union was born out of a need to provide reliable, rewarding and convenient financial services to teachers and others in the education community. Almost a decade later, North Island Credit Union made a name for itself by providing banking resources to military and civil service personnel.