Credit unions in California are safe, sound and secure:

• Are locally headquartered and member-owned.
• Manage deposits that are 90 percent federally insured.
• Serve members who have never lost a penny of their insured savings.
• Have a robust $51.4 billion in liquidity for daily operations and stable management of financial settlements.
• Utilize a healthy $29.9 billion in equity reserves (net worth capital) to weather economic storms and remain a safe harbor.
• Have a net-worth-to-assets ratio of 10.5 percent — well above the 7 percent “well capitalized” federal regulatory threshold.
• 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.
• At a glance: 267 locally headquartered credit unions across 36 counties; 13.3 million members strong; and $284 billion in assets (85 percent are deposits).
• Total loans: $188 billion (first mortgage, HELOCs/home equity, new auto, used auto, credit card, business, and personal loans).
• Total deposits: $241 billion (checking, savings, money market, certificates of deposit, and IRA/Keogh accounts).
• Economic impact: $2.5 billion (more than 32,700 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 $1.3 billion in direct financial benefits to the state’s 13.1 million members during the twelve months ending September 2022 from better interest rates on deposit accounts and loans, as well as lower-cost fees. These financial benefits are equivalent to $98 per member, or $207 per member-household per year. You can view the entire California Membership Benefits Report, published by the Credit Union National Association (CUNA).