SchoolsFirst Federal Credit Union
American credit union
From Wikipedia, the free encyclopedia
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.
 | |
| Type | Credit union |
|---|---|
| Industry | Financial services |
| Founded | 1934 |
| Headquarters | Tustin, California, United States[1] |
Number of locations | 70 Branches (2022) |
Area served | Educators and family Members in California |
Key people |
|
| Products | Savings; Checking; Consumer loans; Auto loans; Mortgages; Credit cards; Investments; Retirement; Insurances; Online banking; Mobile banking |
| Total assets | $31.9B USD (2024)[3] |
| Members | 1,400,000+ (2025) |
Number of employees | 2,332 (2020) |
| Website | SchoolsFirstFCU.org |
History
SchoolsFirst FCU was founded in 1934 by a group of 126 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.[citation needed]
They reported having over 800,000 members in 2019.[4]
As of December 31, 2022, its asset size has grown to $26.9 billion,[5] capital to asset ratio of 9.87%,[5] and the total membership has increased to 1.2 million.[6]
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]
SchoolsFirst offers their services through their 70 Branches[6].
They were voted Best Credit Union in Orange County, California, in 2020 by the Orange County Register[9] and LA Times Reader's Choice.[10]
They were also voted Forbes Best In-State Credit Union in California 2019-2023.[11]