SchoolsFirst Federal Credit Union is a federally chartered credit union that serves the educational community in California. It is headquartered in Tustin, California, and has branches throughout California. Before April 14, 2008, it was named Orange County Teachers Federal Credit Union, or OCTFCU.
Schoolsfirst Federal Credit Union
SchoolsFirst FCU was founded in 1934 by a group of 125 school employees. They pooled $1,200 and established Orange County Teachers Credit Union with a California state charter. A switch to a federal charter in 1985 added Federal to its name.
At the end of 2017, SchoolsFirst FCU reported $14.12 billion in assets, making it the fifth-largest credit union in the United States by asset size. Net income for that year was $119.06 million, and total capital $1.63 billion. Their 11.11% capital to asset ratio is one of the best in the U.S. banking industry.[citation needed] They reported having over 800,000 members in 2019.[4]
In early 2019, SchoolsFirst and Schools Financial announced plans to merge, pending regulatory and member approval. Both credit unions stated that no branches or employees would be closed or laid off as a result of the merger.[7][8] The merger would combine assets and members, totaling $17.1 billion in assets and over one million members, per their respective announcements. The merged credit union operates under the name and charter of SchoolsFirst Federal Credit Union, effective January 1, 2020.
SchoolsFirst Federal Credit Union has more than 60 branches and more than 28,000 fee-free ATMs through SchoolsFirst and CO-OP ATM networks. Members who want to get in touch with a representative can send a message through the live online chat, contact the credit union by phone or mail, or visit a branch. Representatives can be reached by phone 7 a.m. to 7 p.m., Monday through Friday, and 9 a.m. to 3 p.m., Saturday.
SchoolsFirst Credit union also provides access to financial workshops and offers online tools and calculators to help members pay off credit card debt, reach savings goals and determine how much they need to save for retirement.
LPL Financial partners with CUNA Mutual Group to offer a complete menu of financial services to credit union clients. This employment opportunity at CUNA Mutual Group located at SchoolsFirst Federal Credit Union in Long Beach, CA would allow you to join SchoolsFirst Federal Credit Union as a Financial Advisor working for CUNA Mutual Group and associated with LPL Financial. Under this model Financial Advisors are not employees of LPL Financial.
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Get updated photo ID. A lot of credit unions and banks need updated photo ID. That way they know for sure you have updated the SSA and are using your new name. Head over to the DMV and take a number. If your state has a form we provide it. We also provide other essential info for your state, like supporting documents needed, duplicate fees and if you can make an appointment time ahead.
WHY: Largest credit union in California with $15.2B assets, 863K members, up by 89K year-over-year. 50 branches. Founded 1934 when 126 school workers pooled $1.2K to form OC Teachers FCU, renamed SchoolsFirst 2008.
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