An Exciting Time for Schools Financial Members

By an overwhelming majority, Schools Financial Members voted positively to approve the merger between Schools Financial Credit Union and SchoolsFirst Federal Credit Union.

Beginning January 1, we will officially become one Credit Union, combining our resources to serve school employees and their families throughout California.

The first positive changes you’ll notice are no or very low product and service fees, improved savings rates and highly competitive interest rates on loans. In addition, as a special thank you for your loyal Membership, you will see a special dividend in your January account statement.

Schools Financial CU’s current leadership team and employees will continue to serve your needs and help to integrate our two Credit Unions. We are working toward a fourth quarter 2020 integration date and will provide you with regular updates about our progress. Until that time, please continue to access all of your accounts the same way you do today.

In a recent message to Members, Schools Financial Chair Marie Smith said, “I, along with two other current Schools Financial CU Board Members, will serve on the SchoolsFirst FCU Board of Directors. I look forward to our bright future and helping you and your family achieve lasting financial security.”

Benefits of Merger: New Fee Reductions

Description Old Fee Reduced or No Fee
Banking for EveryoneSM Checking Free with eStatements or $5 Free
Overdraft transfer from savings to checking $6 per transaction Free
Defer-a-Pay via SchoolsOnlineSM $25 Free
eCheck transaction $10 Free
Incoming wire $8 Free


About SchoolsFirst FCU
SchoolsFirst FCU is known for their exceptional member service and highly competitive products and services. They are based in Southern California, but serve members statewide. As the largest credit union in California and the fifth largest credit union in the nation, SchoolsFirst FCU will be a strong partner and allow us to provide you with more resources to build your financial security.

To learn more about the next steps of our merger, please see the FAQs below.
 

Merger FAQs