SANTA ANA, Calif. – Orange County Teachers Federal Credit Union, the nation's largest credit union for school employees and their families, will be changing its name to SchoolsFirst FCU today.
“The name SchoolsFirst Federal Credit Union was chosen because it is more inclusive of the entire educational community we serve. Our new name describes what we do every day – we put the financial needs of school employees and their families first,” Rudy Hanley, the credit union’s president and CEO, said in a release.
The CU said the new name is intended to more clearly define its membership base. Over the years, the organization has found that all school employees did not know they could become members. Also, although the credit union is chartered for 10 counties in Southern California, members living outside of Orange County often did not realize they were eligible to join.
The transition to SchoolsFirst FCU is a change in name only. The credit union is not merging, changing its charter or management.
To help members become more accustomed to the new name, the 74-year old CU said it plans a gradual transition. The name OCTFCU will remain in the SchoolsFirst FCU tagline: “Serving School Employees as OCTFCU Since 1934.” The credit union began notifying school superintendants in late January. It placed an advisory on its website on March 24. A celebration with members will take place April 14.
OCTFUC/SchoolsFirst FCU has 376,000 members, $7.5 billion in assets and 26 branches throughout Southern California.
