Build Better Lives Through World-Class Service and Convenience.
Exceed Members’ and employees’ expectations, making CU SoCal
a significant financial competitor in Southern California.
Everything You Wanted To Know And More.
Credit Union of Southern California began initial operations as Whittier Area Schools Federal Credit Union in the home of its first Treasurer, Mr. Ray Frankwick, from 1954 to 1955. Membership was limited to those sharing the common bond of education.
The concept of credit unions was begun by Friedrich Wilhelm Raiffeisen who sought help for the famine stricken-farmers in Germany in 1849. In the United States during the 1920’s, Edward A. Filene emerged as the father of the credit union movement by using his personal fortune to campaign for state and federal credit union laws.
Emulating this philosophy of “People Helping People,” the Whittier Area Schools Federal Credit Union was organized by people sharing common financial concerns. The purpose of the Credit Union was to pool assets for safe investment, provide funds for loans, and offer financial programs of value to Members.
The Credit Union purchased its first office building in 1963. A second move to a larger facility occurred in 1969 as growth continued. During these early years, services were limited to share (savings) accounts and loans. But with Membership increasing in subsequent years, the Credit Union expanded its services to include share draft (checking) accounts, and second trust deed loan programs. Within a few short years, the Credit Union also offered Visa® cards, Money Market Accounts, certificates of deposit, and tax-sheltered programs.
Although various Whittier locations served as the headquarters for the Credit Union over the years, the 1982 move to its current location at 8028 Greenleaf Avenue gave the Credit Union a permanent home.
During 1984, the Credit Union began utilizing the opportunity presented by the deregulation of the banking industry. This deregulation opened the door of credit union Membership to all businesses, no longer limiting Membership to schools. By March of 1986, the Credit Union was serving 74 businesses.
To better represent the expanding field of Membership that it served, the Credit Union elected to remove the word “schools” from its name. Thus, in April of 1987, the new name became “Whittier Area Federal Credit Union” (WAFCU).
By December of 1999, WAFCU exceeded $165,000,000 in assets. At year-end 1999, the Credit Union served more than 250 businesses known as Select Employee Groups or “SEGs.” During the last quarter of 2000, the Credit Union opened a second branch in Pico Rivera and elected to convert to a state-chartered credit union with a community field of Membership. Subsequently the name of the Credit Union was changed to Credit Union of Southern California (CU SoCal).
In October 2002, the Credit Union moved its administrative offices and several other departments to Brea. The following year brought two mergers and approximately 10,000 additional Members to CU SoCal. Western Gear Federal Credit Union merged into CU SoCal on January 1, 2003. The merger of San Gabriel Valley Credit Union into CU SoCal was effective on April 1, 2003. This partnership provided two additional branch locations for CU SoCal—one in El Monte and another in the City of Industry. On December 31, 2009, the merger of WestWorks Credit Union into CU SoCal brought more than 6,000 Members and two branch locations—one in Alhambra and another in the City of Commerce. And, the third quarter of 2012 brought three more mergers to CU SoCal: Inland Empire Credit Union (5,487 Members and a branch in Pomona, CA), North Orange County Credit Union (4,012 Members and a branch in Fullerton, CA) and Family 1 Federal Credit Union (1,639 Members and a branch in Placentia, CA).
As of December 31, 2012, the CU SoCal has over 55,274 Members, $688 million in assets, ten branches and serves over 309 SEGs.
Today, the Credit Union, like other financial institutions, offers savings accounts, checking accounts, various types of consumer and real estate loans, credit cards, and electronic services. But CU SoCal’s origin and continued dedication of service to Members distinguishes it from the others. The organization knows that it is the Members who own the Credit Union and to whom they must be responsive in providing financial leadership.
Throughout its history, CU SoCal has retained its basic purpose, its dedication to the ideals of the credit union movement, and its commitment to serving the needs of the Membership.
CU SoCal Elected Leaders.
Board of Directors
Credit Union of Southern California’s Board of Directors generously volunteers their time throughout the year to ensure the continued strength and security of the Credit Union.
The Supervisory Committee of Credit Union of Southern California regularly meets to ensure that the credit union is fiscally sound and effectively serving the diverse financial needs of Members. Committee members generously volunteer their time to review internal and external audit reports, as well as financial statements. Throughout the year, the Supervisory Committee also confirms the validity of shares and loans.
2014 Annual Report
|CU SoCal’s 2014 Annual Report contains important information regarding your Credit Union’s 2014 fiscal year.|
Making A Difference With Your Service Experience.
CU SoCal Telephone Service Center—A Different Experience
Many businesses answer their telephones with an automated call attendant. Not CU SoCal. One way we strive to exceed your service expectations is by personally answering your phone calls. We receive, on average, more than 24,000 calls per month. This provides us with the privilege of personally serving you. And, in 2014, 76% of your calls were answered within 30 seconds—86% within six seconds.
Many call centers measure their employees’ performance based on “average handling time,” or how many phone calls each representative can take in a day. Not CU SoCal. Our Telephone Service Center representatives don’t worry about how quickly they can complete a phone call. Their desire is to provide you with the World-Class Service you deserve, regardless of how long it takes.
Many call centers have scripts for their representatives to read. Not CU SoCal. We trust our representatives to use their best judgment to serve the best interests of each and every unique Member.
At CU SoCal, we look to build a lifelong relationship with each Member—one phone call at a time.
CU SoCal Service Ratings
True to our mission, CU SoCal remains committed to consistently provide Members with World-Class Service. Based on your valuable feedback, one of our most significant achievements is in the service arena.
In addition to member satisfaction surveys, CU SoCal measures our Net Promoter Score (NPS). This is a recognized objective measurement projecting the likelihood that Members would refer their family or friends to our Credit Union. In 2014, CU SoCal earned an 84% NPS. Bank and credit union averages are currently 8 and 42% respectively. And, last year 84% of Members surveyed responded that they were “very satisfied” with CU SoCal’s service.
Net Promoter Score (NPS)—Member Loyalty1
|Current Month||3-Month Rolling Avg.||YTD Avg.|
Member Satisfaction (Net “Very Satisfied”)
|Current Month||3-Month Rolling Avg.||YTD Avg.|
1 The NPS is a probable statistical representation reflective of the size and distribution of the sample surveyed.
You’re Our Priority!
At Credit Union of Southern California (CU SoCal), Members are our number one priority. Our tradition of providing World-Class Service and Convenience since 1954 is a part of our everyday culture. We’re honored you’ve chosen CU SoCal as your financial partner and enthusiastically look forward to serving all of your financial needs.
By choosing CU SoCal, you’ll receive many of the financial products and services offered elsewhere, but with one important difference—World-Class Service. We only hire caring people who love making a positive difference in Members’ lives. We personally answer your calls. There are no extensions to dial or phone trees to weed through.
CU SoCal Members have access to 10,000 more free ATMs than the largest bank, thousands of shared branch locations worldwide, Saturday hours, Home Banking, Bill Pay, Mobile Banking, account alerts, and 24-hour telephone account access. Call, click, or come by to access your funds anytime, anywhere.
Safety and Soundness
Protecting our Members’ privacy is very important to us. That’s why we maintain a strict confidentiality policy to protect not only your financial assets, but your personal information as well. Plus, CU SoCal has a superior financial rating from BauerFinancial, employs prudent loan practices, and maintains a strong net worth. Members’ savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. The National Credit Union Administration (NCUA), is a U.S. Government agency.
Care for Community
CU SoCal is a local financial institution—we live and work in the same neighborhoods you do. We strive to build strong and vibrant communities. Each year we’re honored to volunteer our time and contribute financially to help those in need.
As your credit union, we see ourselves as your financial partner. We are happy to provide free financial guidance and literacy classes. Rest assured that you will always receive the very best from your team at CU SoCal.
Not For Profit, Not For Charity, But For Service.
For People. Not Profit.
Our nation’s credit unions have helped American families live better lives and embrace democratic principles for more than seven decades. During the Great Depression, many struggling citizens found financial relief and security in credit unions. It was said that many were thankful during those tough times, that credit unions were “Not for Profit, Not for Charity, But for Service.” This “People Helping People” philosophy still holds true today.
Does this sound different from other financial institutions? That’s because credit unions are different. Unlike most other financial institutions that pay dividends to outside stockholders, credit unions return earnings to Member-Owners in the form of competitive rates, lower fees, and new or improved products and services.
As a new Member, you join many colleagues and neighbors who already know the CU SoCal difference. The credit union that began in 1954 is now more than 55,000 Members strong, has assets exceeding $700 million, and serves those in need with its own charity, Southern California’s Helping Hands (SCHH).
CU SoCal doesn’t just exist to provide financial services—we provide financial services with World-Class Service for the purpose of improving lives.
|| CBS Money Watch—1/18/11
Four Ways To Beat The New High Bank Fees.
2011 Credit Union Checking Study. Credit Unions: Free-Checking Champions.
The Credit Union Advantage.
There’s A Credit Union For Everyone!
||CBS News: Money Watch—3/21/11
How To Avoid Rising Bank Fees.
Credit Unions Picking Up Steam.
||The New York Times—2/18/11
Healing a Wounded Credit Score.
||U.S. News My Money—3/2/11
Eight Facts You Should Know About Credit Unions.
Giving Back To Our Communities.
CU SoCal Member Relations Committee
Comprised of CU SoCal employees, our Member Relations Committee meets each month to support a number of charitable organizations and community events including homeless and domestic abuse shelters, community outreach programs for health and education, local museums, music programs and elderly assistance.
If you have a donation request, please view our donations criteria and complete the form below:
Helping Those in Need
CU SoCal Helping Hands
Fueled by the Credit Union philosophy of "People Helping People, " CU SoCal Helping Hands was founded in 1997 by Credit Union of Southern California (CU SoCal) employees. CU SoCal Helping Hands vision is to provide Southern California’s poor and needy families with the basic necessities of life, and enthusiastically donates to many worthy people and organizations each year.
CU SoCal Helping Hands embraces the spirit of giving throughout the year by raising funds to help provide food, clothing, holiday gifts and financial assistance to local people in need.
CU SoCal Helping Hands Annual Events
CU SoCal Helping Hands promotes three major events throughout the year, which include an Annual Food Distribution, Relay for Life in conjunction with the American Cancer Society and an Annual Gift Giving Event.
CU SoCal Helping Hands Board Members
L-R: Colette Klure, Ish Munoz, May Morris, Melissa Manning, Alissa Charlton, Suzy Anderson.
Contact CU SoCal Helping Hands
|866 CU SoCal (866.287.6225)||Email CU SoCal Helping Hands at HelpingHands@CUSoCal.org|
|P.O. Box 9335, Whittier, CA 90608|
We Care About Our Community.
Fueled by the philosophy of “People Helping People,” we support the communities we serve and enthusiastically donate thousands of dollars each year to many worthy organizations through our Member Relations Committee and CU SoCal Helping Hands. We embrace the spirit of giving throughout the year by raising funds to help support creative projects and innovative technologies that enrich the lives of our local youth, and with programs that provide food, clothing, holiday gifts, and financial assistance to local families in need.
Thanks to the overwhelming response of credit union supporters nationwide, on February 26, Congress announced that credit unions will remain tax exempt. This means that credit unions will continue to return their profits to Members in the form of low- to no-fee products and services, that Members will continue to enjoy their many Member-only benefits, and America’s right to financial choice has been preserved. This terrific outcome is the direct result of your continued support to reach out to representatives about the credit union difference. Thank you.
Tell Congress: Don’t Tax My Credit Union
CU SoCal’s primary focus is you, our Members. And, advocating for your financial benefit is one of our top priorities. Occasionally, we need your help in this effort.
What’s Going On
You may have heard that Congress is considering an overhaul of the federal tax code. These changes could include taxing credit unions.
Why We Need Your Help
Credit unions are not-for-profit and return earnings to Members in the form of service and convenience, competitive rates, and low or no fees.
Taxing credit unions means you (and all credit union Members nationwide) could lose these benefits. It may even destroy America’s credit unions as we know them, eliminating financial options for consumers. Ultimately, an added federal tax on credit unions is an added tax on you.
Watch the brief informational video below for more information.
Connect For The Credit Union Cause
Connect for the Cause is a web-based advocacy network that allows you to send your elected officials a message asking them to vote favorably for credit union legislation. This powerful tool sends your message and the messages of thousands of other credit union supporters to amplify the credit union voice and provide a greater influence on important issues.