California Credit Union Expands Service Area to San Bernardino and Ventura Counties & Converts to Community-Based Charter in Los Angeles County, Extending Market Footprint Across Southern California

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Jul 11, 2023, 11:20 ET

** Expansion Marks Credit Union's 90^th Anniversary of Service to Members**

GLENDALE, Calif., July 11, 2023 /PRNewswire/ -- California Credit Union has announced regulatory approval to expand its service area into two significant new Southern California counties. The $4.5 billion credit union will now serve San Bernardino and Ventura Counties, and also has converted to a community-based charter in Los Angeles County. Founded in 1933 by a Los Angeles teacher, the charter expansion marks the credit union's 90^th anniversary of service to members.

"Expanding our service area to San Bernardino and Ventura Counties, along with a community charter in Los Angeles County, is a significant strategic accomplishment as we look ahead to future expansion and member acquisition with a cohesive service network across all of Southern California. With a number of members already living in these new counties, this field of membership expansion is a logical extension of our existing geographic footprint," said California Credit Union President/CEO Steve O'Connell. "Serving the education community remains an important aspect of our 90-year heritage. We are excited to bring both our community and educator products and services to new communities across Los Angeles, San Bernardino and Ventura counties. And, as members increasingly move to digital channels, we are well prepared to immediately begin serving our new communities through our Virtual Branch, online and mobile banking, and various technology service platforms."

With this expansion, the credit union has extended its field of membership to all communities in six counties across Southern California; anyone who lives, works, worships, attends school or has a business in the California counties of Ventura, Los Angeles, Orange, Riverside, San Bernardino, and San Diego is eligible to join the credit union. The credit union also serves school employees throughout the state. California Credit Union's state-of-the-art digital service channels, including full-service online banking, a Virtual Branch, and 5-Star rated mobile app, along with its nationwide network of 30,000+ surcharge-free ATMs, will be available to its new communities immediately as plans for new retail branches are determined.

O'Connell added, "Our approach has always been to be of service and become a community-wide asset in our markets. We look forward to building relationships within our new communities so we're not just providing best-in-class financial services, but also offering financial education programs, supporting under-resourced areas and community members, and partnering with local organizations to make a meaningful difference in the health of our communities."

California Credit Union is certified as a Community Development Financial Institution (CDFI), a designation only given to organizations proven to provide financial services in communities that have historically lacked access to traditional banking services. In addition, its Checking account meets the stringent Bank On National Account Standards, offering safe access to a traditional checking account, with zero fees or overdraft charges to support moving members out of a debt cycle. The credit union also has adjusted underwriting guidelines to provide easier access to funds and launched credit card products for members looking to build/restore credit.

California Credit Union currently operates with dual headquarters in Glendale and San Diego, and serves members under its North Island Credit Union brand in the greater San Diego and Riverside areas.

About California Credit Union
California Credit Union is a federally insured, state chartered credit union founded in 1933 with assets over $4.5 billion, more than 170,000 members, and 24 retail branches. The credit union serves community members and businesses in the California counties of Los Angeles, Orange, Riverside, San Bernardino, San Diego, and Ventura as well as school employees throughout the state. The credit union operates in San Diego and Riverside Counties as North Island Credit Union, a division of California Credit Union. The credit union offers a full suite of consumer, business and investment products and services, including comprehensive consumer checking and loan options, personalized financial planning, business banking, and leading-edge online and mobile banking. Visit ccu.com for more information or follow the credit union on Instagram^®or Facebook^®@CaliforniaCreditUnion.