GLENDALE, Calif.–California Credit Union said it has been given the OK by regulators to significantly expand its field of membership in Southern California to serve San Bernardino and Ventura counties.
The expansion comes as the $4.5-billion CCU is marking its 90th anniversary.
“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,” said President/CEO Steve O’Connell. “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. 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,” O’Connell added.
Six County FOM
With the expansion, California CU said its FOM now includes anyone who lives, works, worships, attends school or has a business in Ventura, Los Angeles, Orange, Riverside, San Bernardino, and San Diego counties.
The credit union, which said plans are now being discussed related to branch expansion, also serves school employees throughout the state.
“Our approach has always been to be of service and become a community-wide asset in our markets,” said O’Connell. “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.”
A CDFI
California Credit Union is certified as a community development financial institution (CDFI), and further noted its checking account meets the Bank On national account standards.
In addition, CCU said it has adjusted underwriting guidelines to provide easier access to funds and launched credit card products for members looking to build/restore credit.
The credit union has more than 170,000 members.
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