| Type | Credit union |
|---|---|
| Industry | Financial services |
| Founded | 1934 |
| Headquarters | Santa Ana, California, United States |
| Number of locations | 34 |
| Area served | Educators and family Members in Southern California |
| Key people | Rudy Hanley, President |
| Products | Savings; Checking; Consumer loans; Mortgages; Credit cards; Investments; Online banking |
| Total assets | $7.65B USD (2007) |
| Website | SchoolsFirstFCU.org |
SchoolsFirst Federal Credit Union is a federally chartered credit union headquartered in Santa Ana, California that serves the educational community in Southern California. Before April 14, 2008, it was named Orange County Teachers Federal Credit Union, or OCTFCU.
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SchoolsFirst FCU was founded in 1934 by a group of 125 school employees who pooled $1,200 and established Orange County Teachers Credit Union with a California state charter. A switch to a federal charter in 1983 added Federal to its name.
At the end of 2007, SchoolsFirst FCU reported $7.65 billion in assets[1], making it the fifth-largest credit union in the United States by asset size. Net income for that year was $64.24 million, and total capital $836 million. Their 11.16% capital to asset ratio is one of the best in the U.S. banking industry. They reported having 376,789 members at the end of 2007.
SchoolsFirst FCU's field of Membership is the following Southern California counties:
Within those counties, SchoolsFirst FCU serves employees of the following educational entities (serving both classified and certificated employees):
In addition, SchoolsFirst FCU serves the following:
In 2004, Orange County Teachers FCU was named the third best medium-sized company to work for in the country by the Great Place to Work Institute, Inc., a workplace research and consulting firm in San Francisco. Each year the Institute works with Fortune Magazine and other publications throughout the world to select "Best Companies to Work For" lists that appear in 25 different countries, including the "100 Best Companies to Work for" in America.
Three years later, in 2007, Orange County Teachers FCU appeared in the same list, placing tenth.