The credit union was founded in 1961 when we applied for and received our charter from the NCUA as Los Angeles State College Federal Credit Union.

At first open only to faculty; the Credit Union had $2,860 in shares.

Milestones in our history:
1962    The first Annual Meeting of the Membership
1965    Our name was changed to Cal-State Federal Credit Union.
1971    The Credit Union exceeds 1 million in shares.
1976    The Credit Union name changes to California State University, Los Angeles Federal Credit Union.
1988    The Credit Union moves into Student Union Building and opens membership to students.  Shares increase to almost 5 million.
1991    The Credit Union begins offering teller and cash services.
2001    The Credit Union introduces Online Banking.
2003    The Credit Union moves off campus.
2005    The Credit Union is approved by NCUA to serve the community of El Sereno.
2007    The Credit Union name is shortened to Cal State L.A. Federal Credit Union.
2009    The Credit Union opens a new branch in El Sereno

As of June of 2011 the Credit Union had over 4,800 members, 31 million in loans and 41 million in shares.

How we are run
Credit Unions are the only democratically run financial institution. A federal credit union is member-owned and controlled.  Member’s interests are represented by a volunteer board of directors drawn from the membership and elected by the membership.  All members of the credit union have equal voting rights (whether they have $25 or $250,000) to elect the volunteer Board members.

Cal State L.A. Federal Credit Union has 7 Board members.  Elections are held at the Annual Meeting.  Volunteer Board members may be nominated by 1% of the membership, or the Board’s Nominating Committee.  If you would like to volunteer for the Credit Union’s Board, you may write to the Nominating Committee for more information. Nominations packets are available each January.

Credit Unions are not-for-profit and member owned. That means more free services and better rates on savings and loans, because all profit goes back to the members - the owners of the credit union - in the form of better rates and lower fees.

Aerial photo of the campus of Cal State L.A., circa 1960

1967 Pep Rally

Student Union circa 1970