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California Credit Union

California Credit Union
Company typeCredit Union
IndustryFinancial
Founded1933 (1933)
Headquarters,
United States
Number of locations
24
Area served
Orange County, Riverside County, San Diego County (as North Island CU)
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 residents of three Southern California counties as well as teachers and others in the education community.[1][2][3]

History

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

In 1995 the credit union changed its name to California Credit Union.[1]

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]

Membership

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

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. ^ a b 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.
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