Who We Serve…

In 1939, the Los Angeles Classified School Employees’ Federal Credit Union, now known as Schools Federal Credit Union, was established through the joint effort of the Personnel Division and a group of classified employees at the Los Angeles Unified School District (LAUSD). This initiative was supported by the LAUSD Superintendent at the time, Vierling Kersey. Our financial cooperative was founded with a singular goal that remains steadfast today: to provide members with options that help them save and earn money. During that era, as the country was recovering from the Great Depression, trust in traditional banks and financial institutions had eroded. By forming a financial cooperative rooted in mutual trust among members, we ensured safety and soundness.

Today, Schools Federal Credit Union serves over 17,000 members with over $180 million in assets. We continue to maintain an exclusive field of membership, primarily serving the communities around LAUSD and the Los Angeles Community College District (LACCD). The credit union is financially robust and well-capitalized. Recently, we were recognized by Newsweek as one of America’s best credit unions in 2024. This honor reflects our profitability, financial relevance, risk management, and overall stability.

Mission Statement:  Schools Federal Credit Union is committed to providing exceptional member service and customized solutions through financial soundness and inclusion, to meet the needs of our members today and in the future.

Who Can Join?