California Credit Union

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California Credit Union
TypeCredit Union
IndustryFinancial
Founded1933 (1933)
Headquarters
Glendale, California
,
United States
Number of locations
24
Area served
Los Angeles County, San Diego County
Key people
Steve O'Connel, CEO
ProductsSavings; Checking; Consumer Loans; Mortgages; Online Banking
Total assets$3 billion (2017)
Websitewww.ccu.com

California Credit Union (CCU), previously known as the Los Angeles Teachers Credit Union, is a state-chartered credit union in Southern California that focuses on providing financial services to teachers and others in the education community.[1][2][3]

As of 2017 it was the 14th largest credit union by asset size in California with $3 billion in assets and 24 branches.[citation needed]

History[]

Los Angeles Teachers Credit Union was founded in 1933 to provide financial services to teachers and others in the education community.[4]

A branch of the credit union was held up by three armed robbers in 1996.[5]

In 2011, the credit union reacquired the building at 701 N. Brand in Los Angeles as its headquarters from MPG Office Trust. The credit union had originally sold the building in 2006.[6]

Effective March 1, 2017, it merged with North Island Credit Union of San Diego.[7][8][9][10]

After the acquisition the organisation was renamed as the California Credit Union.[11]

Membership[]

CCU has more than 165,000 members. Membership is available to individuals and businesses in Los Angeles, San Diego, Riverside, and Orange counties, and to residents of California who meet one of the following requirements:

  • Los Angeles Unified School District employee
  • Los Angeles County Office of Education employee
  • Retired educator
  • Charter school employee
  • College / university employee
  • Private school employee
  • Alumni association member
  • Parent Teacher Association member

Regulation[]

California Credit Union is regulated under the authority of both the California Department of Financial Institutions and the National Credit Union Administration (NCUA), an agency of the U.S. federal government. Deposits are federally insured by the NCUA.

References[]

  1. ^ Lee, Don (January 15, 1997). "Credit Unions on Edge Over Pending Court Ruling". Los Angeles Times. ...the California Credit Union, formerly called the Los Angeles Teachers Credit Union ...
  2. ^ "Company Overview of California Credit Union". Bloomberg.
  3. ^ "Business Directory - Banks - California Credit Union". South Lake Avenue Business Association. Retrieved August 7, 2018.
  4. ^ "History". California Credit Union. Retrieved 2018-03-16.
  5. ^ Riccardi, Nicholas (April 27, 1996). "Armed Robbers Hit Teachers Credit Union. Holdup: Trio takes unknown sum from Sherman Way office. MCA credit union was victimized Tuesday". Los Angeles Times.
  6. ^ Kisliuk, Bill (April 6, 2011). "Credit union reacquires its building". Los Angeles Times.
  7. ^ "Glendale Credit Union Completes Merger". Los Angeles Business Journal. March 3, 2017.
  8. ^ "California Credit Union & North Island Credit Union announce merger approvals". CUInsight (press release). February 28, 2017.
  9. ^ "Two southern California credit unions announce merger of equals".
  10. ^ "California Credit Union; North Island Financial Credit Union". June 6, 2016.
  11. ^ "California Credit Union: Creating a Unified Brand". FreshForm. Archived from the original on 2018-04-16. Retrieved 2018-04-14.
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