San Diego County Credit Union Revenue and Competitors

Unlike banks or savings and loan organizations, San Diego County Credit Union (SDCCU) is a not-for-profit institution that is wholly owned and operated by its members. It was founded in 1938 by a handful of local government employees who were frustrated over their inability to obtain loans from traditional banking systems. The group originally named itself the San Diego County Employees' Credit Union. Its purpose was to provide peers and colleagues with small loans and basic deposit accounts. Decades later, however, the organization opened its doors to entities outside of local government, giving more San Diegans a new alternative in banking. By the early 1970s the credit union modified its name to reflect a much broader membership and wider range of services. Since then, San Diegans have taken pride and comfort in the organization's affordable loans, higher dividend rates and free banking services. There are no stockholders, which means gains are returned entirely to the membership in the form of superior dividend rates, innovative home banking services and convenient branch locations. Over 60 years ago, SDCCU operated from only a single office on Mildred Street in Linda Vista. That structure is part of a growing 23-branch network serving over 170,000 members throughout greater San Diego County. Much of the organization's success stems from SDCCU's ability to balance growth with a myriad of frequently introduced services. Through surveys, SDCCU management discovered that three-quarters of the membership considered SDCCU to be their primary financial institution. Equally impressive is that 96% of its members consistently report being "very satisfied" to "satisfied" with the credit union's overall services and products. In the past 10 years, SDCCU began experiencing its most dramatic growth, moving from $300 million in assets to over $3.4 billion. Global companies like Science Applications International Corporation and QUALCOMM, for example, began choosing SDCCU as their primary banking source for their employees as did scores of individuals from San Diego's expanding population. The credit union's dedication to service extends beyond financial products to the community as a whole. SDCCU is involved in a full calendar of Community Relations events to assist numerous non-profit organizations. After many years of record participation, SDCCU continues to be the title sponsor of the Multiple Sclerosis Walk. Hundreds of employees and their families take steps to raise money in downtown San Diego and Carlsbad. San Diego County Credit Union has become a financial cornerstone for an area that is defined by its diverse population and continual growth. The prestigious standard it sets in alternative banking remains unsurpassed. Like with many past generations it has served, the credit union is helping today's members build their futures with even greater confidence and financial security. It is a model organization that remains strongly etched in San Diego's economic portrait.