L.A. county-based credit unions: ranked by assets as of June 30, 2006.EXECUTIVE SUMMARY ASSETS at the 25 largest credit unions Credit Union Member-owned financial co-operative. These institutions are created and operated by its members and profits are shared amongst the owners.Notes: As soon as you deposit funds into a credit union account, you become a partial owner and participate in the union's profitability. Credit unions are formed by large corporations and organizations for their employees and members. in L.A. County increased by
8 percent compared with last year, up $1.7 billion to $23.1 billion as
of June 30. Deposits increased by $1 billion to $19.1 billion.Credit unions are non-profit organizations that are member-owned and profits are generally lower than at other financial institutions. Aggregate net income through June 30 totaled $111.4 million, compared with $100.4 million for the like period a year ago. Just two credit unions listed reporting losses through the first six months of the year. Chatsworth-based Telesis Community Credit Union saw the largest percentage increase in assets, up 15 percent compared to last year. Telesis serves people who live and work in the San Fernando, Santa Clarita and Ventura counties. It also has a branch in No,hem California's Contra Costa County. No. 22 Water and Power Community Credit Union and No. 15 Los Angeles Federal Credit Union were the only two institutions listed that saw assets decline over the past year. Overall, the 25 largest credit unions \saw membership increase to 1.7 million, up 56,416 members compared with 12 months prior. They employ 5,209 people in 260 branches. THE PACESETTER WESCOM CREDIT UNION WESCOM Credit Union, the Ill largest in Los Angeles County, saw assets rise by 14.4 percent to just over $3.5 billion as of June 30, compared with the same period a year ago. Membership in the Pasadena-based non-profit rose to 278,016, an increase of 27,851 members or 11 percent, compared with the year earlier period. Approximately 60 percent of the new members come from referrals by members. "This has been the busiest year for us in terms of expansion," said Darren Williams, president and chief executive. The credit union, which has 46 branches in operation, expects to have opened a dozen branches by the end of 2006. "We anticipate opening six to 10 branches next year," Williams said. The most significant part of the expansion is the credit union' s geographic growth. It now has five branches in San Diego and two in Santa Barbara, with two more to open in Santa Barbara during the first quarter of 2007. The credit union focuses almost exclusively on making retail loans, roughly half secured by real estate. Despite projections of a slowdown in the housing market locally, there has not yet been a significant decline in the number of home loans made. "We haven't seen any signs of slowdown in production beyond what you would see seasonally, or because of interest rates," Williams said. "What helps us is that we have a larger share of refinance business than other traditional real estate lenders." Wescom was founded in 1934 by 13 Pacific Telephone employees who pooled $65. Researched by David Nusbaum
Credit Union Assets (1) Deposits (1)
(Ranking in 2005) (in millions) (in millions)
* name * 2006 * 2006
* address * 2005 * 2005
Rank * Web site * % change * % change
(loss) (loss)
1 Wescom Credit Union (1) $3,526.3 $2,655.2
123 S. Marengo Ave. $3,083 $2,443.6
Pasadena 91101 14.4 8.7
wescom.org
2 Kinecta Federal 3,273.8 2,647.1
Credit Union (2) 2,936.9 2,517.2
1440 Rosecrans Ave. 11.5 5.2
Manhattan Beach 90266
kinecta.org
3 Lockheed Federal 2,295.1 1,921.8
Credit Union (3) 2,076.7 1,745.6
2340 Hollywood Way 10.5 10.1
Burbank 91505
lockheedfcu.org
4 Premier America 1,195 1,005
Credit Union (5) 1,077 934.20
19867 Prairie St. 10.9 7.6
Chatsworth 91311
premier.org
5 Western Federal 1,168 1,029
Credit Union (4) 1,109 964.3
14500 Aviation Blvd. 5.3 6.7
Hawthorne 90250
western.org
6 California Credit 1,132 942.7
Union (6) 1,020 899.6
701 N. Brand Blvd. 10.9 4.8
Glendale 91203
californiacu.org
7 F & A Federal Credit 800.3 679.9
Union (7) 785.6 638.1
2625 Corporate Place 1.9 6.5
Monterey Park 91754
fafcu.org
8 Xerox Federal Credit 785.2 602.8
Union (8) 760.8 592.5
2200 E. Grand Ave. 3.2 1.7
El Segundo 90245
xfcu.org
9 Caltech Employees 742.8 688
Federal Credit Union 728.3 665.7
(9) 528 Foothill Blvd. 2 3.4
La Canada Flintridge
91012 cefcu.org
10 Financial Partners 659.4 597.6
Credit Union (11) 620.1 561.3
7800 E. Imperial 6.3 6.5
Highway Downey 90242
xfcu.org
11 Los Angeles Police 652.4 570.6
Federal Credit Union 647.5 568.4
(10) 16150 Sherman Way 0.8 0.4
Van Nuys 91406
lapfcu.org
12 First Financial Credit Uni 640 584.2
1600 W. Cameron Ave. 618.5 567
West Covina 91790 3.50 3
fffcu.org
13 Telesis Community 601.8 386.6
Credit Union (17) 522.9 379
9301 Winnetka Ave. 15.1 2
Chatsworth 91311
telesiscu.com
14 First Entertainment 594.6 535
Credit Union (15) 545.2 491.3
6735 Forest Lawn Drive 9.1 8.9
Hollywood 90068
firstent.org
15 Los Angeles Federal $565.5 $495.3
Credit Union (13) $572.1 $507.1
300 S. Glendale Ave. (1.2) (2.3)
Glendale 91205
lafcu.org
16 Northrop Grumman 563.4 475.5
Federal Credit Union 528 426.8
(16) 879 W. 190th St. 6.7 11.4
Gardena 90248
norgrumfcu.org
17 Farmers Insurance Group 552.1 477
Federal Credit Union 545.5 476
(14) 4680 Wilshire 1.2 0.2
Blvd. Los Angeles 90010
figfederal.com
18 Credit Union of 500.30 357.30
Southern California 444.30 359.90
(19) 8028 Greenleaf 12.60 -0.70
Ave. Whittier 90602
cusocal.org
19 Vista Federal Credit 481.1 428.4
Union (20) 100 N. First 439.5 393.9
St., Suite 100 Burbank 9.5 8.8
91502 vistafcu.org
20 Christian Community 451.4 387
Credit Union 255 N. 403.2 358.3
Lone Hill Ave. San 11.9 (8.0)
Dimas 91773 mycccu.com
21 Honda Federal Credit 436.2 383.1
Union (21) 19701 414.4 362.5
Hamilton Ave., Suite 5.3 5.7
130 Torrance 90502
hondafcu.org
22 Water and Power 418.7 384.1
Community Credit Union 460.7 421.5
(18) 1053 W. Sunset (9.1) (8.9)
Blvd. Los Angeles 90012
wpcu.org
23 SCE Federal Credit 382 319.1
Union (22) 3810 Durbin 369.4 310.2
St. Irwindale 91706 3.4 2.9
scefcu.org
24 University Credit Union 365.2 323.6
(23) 1500 S. Sepulveda 350.3 311.1
Blvd. Los Angeles 90025 4.2 4
ucu.org
25 First City Credit Union 344 299
(24) 717 W. Temple St. 335.6 294.2
Los Angeles 90012 2.5 1.6
firstcitycu.org
Savings & Loan Net Income (2)
(Ranking in 2005) (in millions)
* name * 2006
* address * 2005
Rank * Web site * % change
(loss) Members
1 Wescom Credit Union (1) $13.2 278,016
123 S. Marengo Ave. $12.8
Pasadena 91101 4
wescom.org
2 Kinecta Federal 16.2 191,388
Credit Union (2) 15
1440 Rosecrans Ave. 8
Manhattan Beach 90266
kinecta.org
3 Lockheed Federal 19.8 101,182
Credit Union (3) 20.2
2340 Hollywood Way (2)
Burbank 91505
lockheedfcu.org
4 Premier America 6.3 73,597
Credit Union (5) 5.4
19867 Prairie St. 17
Chatsworth 91311
premier.org
5 Western Federal 3.8 119,941
Credit Union (4) 4.6
14500 Aviation Blvd. (16)
Hawthorne 90250
western.org
6 California Credit 6.8 77,117
Union (6) 6.8
701 N. Brand Blvd. (0)
Glendale 91203
californiacu.org
7 F & A Federal Credit 4.7 38,406
Union (7) 5.4
2625 Corporate Place (13)
Monterey Park 91754
fafcu.org
8 Xerox Federal Credit 1.80 74,143
Union (8) 1.90
2200 E. Grand Ave. -7
El Segundo 90245
xfcu.org
9 Caltech Employees 1 28,686
Federal Credit Union 1.6
(9) 528 Foothill Blvd. (41)
La Canada Flintridge
91012 cefcu.org
10 Financial Partners 1.5 53,175
Credit Union (11) 1.2
7800 E. Imperial 27
Highway Downey 90242
xfcu.org
11 Los Angeles Police 2.5 43,311
Federal Credit Union 3.3
(10) 16150 Sherman Way (24)
Van Nuys 91406
lapfcu.org
12 First Financial Credit Uni 4.6 72,845
1600 W. Cameron Ave. (1.5)
West Covina 91790 (397)
fffcu.org
13 Telesis Community 3.1 40,198
Credit Union (17) 6.5
9301 Winnetka Ave. (52)
Chatsworth 91311
telesiscu.com
14 First Entertainment 2.5 53,595
Credit Union (15) 3.2
6735 Forest Lawn Drive (21)
Hollywood 90068
firstent.org
15 Los Angeles Federal $2 43,089
Credit Union (13) $2.1
300 S. Glendale Ave. (5)
Glendale 91205
lafcu.org
16 Northrop Grumman 2.5 49,994
Federal Credit Union 1.9
(16) 879 W. 190th St. 32
Gardena 90248
norgrumfcu.org
17 Farmers Insurance Group 2.9 39,904
Federal Credit Union 2
(14) 4680 Wilshire 43
Blvd. Los Angeles 90010
figfederal.com
18 Credit Union of 2.90 41,073
Southern California 2.50
(19) 8028 Greenleaf 15
Ave. Whittier 90602
cusocal.org
19 Vista Federal Credit 4.1 58,224
Union (20) 100 N. First 3
St., Suite 100 Burbank 38
91502 vistafcu.org
20 Christian Community (0.1) 29,200
Credit Union 255 N. 0.10
Lone Hill Ave. San (191.0)
Dimas 91773 mycccu.com
21 Honda Federal Credit (0.1) 50,013
Union (21) 19701 2.7
Hamilton Ave., Suite (105)
130 Torrance 90502
hondafcu.org
22 Water and Power 5.1 51,834
Community Credit Union (3.4)
(18) 1053 W. Sunset (250)
Blvd. Los Angeles 90012
wpcu.org
23 SCE Federal Credit 1.4 46,167
Union (22) 3810 Durbin 0.8
St. Irwindale 91706 75
scefcu.org
24 University Credit Union 1.1 45,696
(23) 1500 S. Sepulveda 0.8
Blvd. Los Angeles 90025 34
ucu.org
25 First City Credit Union 1.7 39,765
(24) 717 W. Temple St. 1.4
Los Angeles 90012 18
firstcitycu.org
Savings & Loan
(Ranking in 2005) Profile
* name * employees Top Executive
* address * branches * name
Rank * Web site * year * title
founded * phone
1 Wescom Credit Union (1) 813 Darren Williams
123 S. Marengo Ave. 46 ceo, president
Pasadena 91101 1934 (626) 535-1000
wescom.org
2 Kinecta Federal 658 Simone Lagomarsino
Credit Union (2) 19 ceo, president
1440 Rosecrans Ave. 1940 (800) 854-9846
Manhattan Beach 90266
kinecta.org
3 Lockheed Federal 348 David Styler
Credit Union (3) 10 ceo, president
2340 Hollywood Way 1937 (818) 565-2020
Burbank 91505
lockheedfcu.org
4 Premier America 185 John Merlo
Credit Union (5) 10 ceo, president
19867 Prairie St. 1957 (800) 772-4000
Chatsworth 91311
premier.org
5 Western Federal 284 John A. Bommarito
Credit Union (4) 21 ceo, president
14500 Aviation Blvd. 1963 (310)-536-5000
Hawthorne 90250
western.org
6 California Credit 272 Ronald McDaniel
Union (6) 8 ceo, president
701 N. Brand Blvd. 1933 (800) 334-8788
Glendale 91203
californiacu.org
7 F & A Federal Credit 74 Richard T. Andrews
Union (7) 1 ceo, president
2625 Corporate Place 1936 (323) 268-1226
Monterey Park 91754
fafcu.org
8 Xerox Federal Credit 155 Teresa Freeborn
Union (8) 14 ceo, president
2200 E. Grand Ave. 1964 (310) 333-4200
El Segundo 90245
xfcu.org
9 Caltech Employees 63 Richard Harris
Federal Credit Union 3 ceo, president
(9) 528 Foothill Blvd. 1950 (800) 592-3328
La Canada Flintridge
91012 cefcu.org
10 Financial Partners 170 Nader Moghaddam
Credit Union (11) 11 ceo, president
7800 E. Imperial 1937 (800) 950-7328
Highway Downey 90242
xfcu.org
11 Los Angeles Police 123 Stephen Endaya
Federal Credit Union 4 ceo, president
(10) 16150 Sherman Way 1959 (818) 787-6520
Van Nuys 91406
lapfcu.org
12 First Financial Credit Uni 247 Carlton MusMann
1600 W. Cameron Ave. 13 ceo, president
West Covina 91790 1974 (626) 814-4623
fffcu.org
13 Telesis Community 207 Grace Mayo
Credit Union (17) 10 ceo, president
9301 Winnetka Ave. 1965 (818) 885-1226
Chatsworth 91311
telesiscu.com
14 First Entertainment 131 Charles Bruen
Credit Union (15) 11 ceo, president
6735 Forest Lawn Drive 1967 (323) 851-3673
Hollywood 90068
firstent.org
15 Los Angeles Federal 135 Steven McDiffett
Credit Union (13) 5 ceo, president
300 S. Glendale Ave. 1936 (213) 484-8640
Glendale 91205
lafcu.org
16 Northrop Grumman 136 Stanley R. Swenson Jr.
Federal Credit Union 17 ceo, president
(16) 879 W. 190th St. 1946 (310) 808-4000
Gardena 90248
norgrumfcu.org
17 Farmers Insurance Group 139 Mark Herter
Federal Credit Union 17 ceo, president
(14) 4680 Wilshire 1936 (323) 935-0100
Blvd. Los Angeles 90010
figfederal.com
18 Credit Union of 131 Dave Gunderson
Southern California 6 ceo, president
(19) 8028 Greenleaf 1954 (562) 698-8326
Ave. Whittier 90602
cusocal.org
19 Vista Federal Credit 170 John Janclaes
Union (20) 100 N. First 4 ceo, president
St., Suite 100 Burbank 1960 (407) 354-5100
91502 vistafcu.org
20 Christian Community 135 John Walling
Credit Union 255 N. 3 ceo, president
Lone Hill Ave. San 1957 (626) 915-7551
Dimas 91773 mycccu.com
21 Honda Federal Credit 132 Jim Updike
Union (21) 19701 8 ceo, president
Hamilton Ave., Suite 0.1966 (310) 217-8600
130 Torrance 90502
hondafcu.org
22 Water and Power 140 Carl Stewart
Community Credit Union 6 ceo, president
(18) 1053 W. Sunset 1936 (213) 580-1621
Blvd. Los Angeles 90012
wpcu.org
23 SCE Federal Credit 131 Dennis Huber
Union (22) 3810 Durbin 7 ceo
St. Irwindale 91706 1952 (800) 866-6474
scefcu.org
24 University Credit Union 110 Charles Bumbarger
(23) 1500 S. Sepulveda 1 ceo, president
Blvd. Los Angeles 90025 1950 (310) 477-6628
ucu.org
25 First City Credit Union 120 Steve Punch
(24) 717 W. Temple St. 5 ceo, president
Los Angeles 90012 1937 (800) 944-2200
firstcitycu.org
N/A - Not Available
Note: Information for this list was provided by the National Credit
Union Administration. Credit unions are ranked by total assets as of
June 30, 2006.
To the best of our knowledge, this information is accurate as of press
time. While every effort is made to ensure the accuracy and
thoroughness of the list, omissions and typographical errors sometimes
occur. Please send corrections or additions on company letterhead to
the Research Department, Los Angeles Business Journal, 5700 Wilshire
Blvd., Suite 170, Los Angeles 90036. [c]2006 Los Angeles Business
Journal. This list may not be reprinted in whole or in part without
prior written permission from the editor. Reprints are available from
Wright's Reprints, (877) 652-5295.
(1) As of June 30.
(2) For the six months ended June 30.
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