Credit unions in California:

• Are locally headquartered and member-owned.
• Serve members who have never lost a penny of their insured savings.
• Prioritize safety and soundness during unpredictable periods.
• Are committed to serving consumers — no matter what — during good times and uncertain times.
• Serve Main Street consumers and businesses, not Wall Street.
• Remain democratically managed by volunteer boards of directors, acting in accordance with member wishes.
• Total credit unions: 260 locally headquartered credit unions across 36 counties in California; 13.7 million members strong; and $294 billion in assets (81 percent are deposits).
• Total loans: $197 billion (first mortgage, HELOCs/home equity, new auto, used auto, credit card, business, and personal loans).
• Total deposits: $238 billion (checking, savings, money market, certificates of deposit, and IRA/Keogh accounts).
• Annual economic impact: $10 billion (more than 33,000 individuals employed, as well as spending on property, office equipment, occupancy, operating systems, and vendors).
• State regulator: State-licensed credit unions are regulated by the California Department of Financial Protection and Innovation (DFPI), led by Commissioner Clothilde “Cloey” Hewlett.
• Federal regulator: Federally chartered credit unions are regulated by the National Credit Union Administration (NCUA), led by Chairman Todd Harper.
• California credit unions provided nearly $2.52 billion in direct financial benefits to the state’s 13.8 million members during the twelve months ending December 2023 from better interest rates on deposit accounts and loans, as well as lower-cost fees. These financial benefits are equivalent to $182 per member or $383 per member-household per year. You can view the entire California Membership Benefits Report published by America’s Credit Unions (ACU).