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Southland Credit Union is a not-for-profit community-chartered credit union in California serving anyone who lives, works, worships or attends school in Orange County, the Gateway Cities of Los Angeles County and the communities of Downtown Los Angeles and Santa Monica. In addition, Membership to Southland Credit Union is available to employees of approximately 300 Select Employer Groups (SEG). As of June 2014, Southland Credit Union reported its assets exceed $485 million and are serving over 47,000 Members.

History

 * 1936 - Southland Credit Union established to serve the employees of the Los Angeles County Flood Control District with seven volunteers.
 * 1944 - State charter granted; name is changed to "Los Angeles County Civic Center Credit Union."
 * 1981 - Corporate office moved from Los Angeles to Downey.
 * 1994 - Name changed to "Southland Civic Federal Credit Union" and the Credit Union received a federal charter. Membership is opened to members of the Los Angeles County Bar Association.
 * 1996 - Merged with Sunrise First Federal Credit Union, which served the employees of Simpson Paper Company.
 * 1999 - Converted back to a state charter with a name changed to "Southland Civic Credit Union" and completed a merger with Los Angeles Internal Revenue Service Employees Federal Credit Union.
 * 2001 - Merged with FAMCO Federal Credit Union, which served the employees of AMERON, now National Oilwell Varco.
 * 2002 - Name changed to "Southland Credit Union" and corporate office is moved to Los Alamitos.
 * 2009 - Merged with Cityside Federal Credit Union, formally the Los Angeles Times Federal Credit Union.
 * 2011 - Acquired the Garden Grove branch of Fullerton Community Bank.
 * 2012 - Merged with Santa Monica City Employees Federal Credit Union.
 * 2013 - Moved the Santa Monica branch due to planned demolition of the building holding the former Santa Monica City Employees Federal Credit Union.

Community Charter
Southland Credit Union's community charter allows for Membership to residents and individuals, who work, worship or attend school in the following communities:


 * Orange County, California


 * Downtown Los Angeles

Greater Santa Monica Area
 * Brentwood, California
 * Culver City, California
 * Mar Vista, California
 * Marina del Rey, California
 * Pacific Palisades, California
 * Santa Monica, California
 * Venice, California
 * West Los Angeles

Gateway Cities
 * Artesia, California
 * Bellflower, California
 * Cerritos, California
 * Downey, California
 * Hawaiian Gardens, California
 * La Habra Heights, California
 * La Mirada, California
 * Lakewood, California
 * Long Beach, California
 * Norwalk, California
 * Paramount, California
 * Santa Fe Springs, California
 * Signal Hill, California

Select Employer Groups
Membership with Southland Credit Union is available to employees of approximately 300 Select Employer Groups (SEG), including:


 * Bandai
 * Blank Rome
 * Bureau of Alcohol, Tobacco, Firearms and Explosives
 * City of Garden Grove Employees
 * City of La Mirada Employees
 * City of Lakewood Employees
 * City of Lawndale Employees
 * City of Los Alamitos Employees
 * City of Lynwood Employees
 * City of Paramount Employees
 * City of Santa Monica Employees
 * City of Seal Beach Employees
 * Commerce Casino
 * Costco


 * Davis Elen Advertising
 * Drug Enforcement Administration
 * Employees and Retirees of Los Angeles County
 * Frieda's Inc.
 * General Services Administration
 * Gibson, Dunn & Crutcher
 * Horiba
 * Internal Revenue Service
 * Jones Day
 * Latham & Watkins
 * Los Alamitos Unified School District
 * Los Angeles County Bar Association
 * Los Angeles County Sheriff's Department
 * Los Angeles Times


 * Morgan, Lewis & Bockius
 * Paul Hastings
 * Perkins Coie
 * Sidley Austin
 * Tarzana Treatment Centers
 * United States Army
 * United States Attorney
 * United States Bankruptcy Court
 * United States Department of Homeland Security
 * United States Department of the Treasury
 * United States District Court
 * United States Marshals Service
 * Zodiac Aerospace

Performance
Texas Ratio

As of December 31, 2013 Southland Credit Union had $5.91 million in non-current loans and owned real-estate with $61.02 million in equity and loan loss allowances on hand to cover it. This gives Southland Credit Union a Texas ratio of 9.68% which is rated Grade A. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

The Texas Ratio for Southland Credit Union decreased slightly from 12.72% as of December 31, 2012 to 9.68% as of December 31, 2013, resulting in a positive change of 23.89%.This indicates that the balance sheet and financial strength for Southland Credit Union has improved slightly in recent periods.

Deposit Growth

In the past year, Southland Credit Union has increased its total deposits by $327,000, resulting in 0.08% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Southland Credit Union has shown is above average.

Capitalization

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Southland Credit Union has $481.02 million in assets with $61.02 million in equity, resulting in a capitalization level of 12.69%, which is rated "A+".

Products and Services
Southland Credit Union offers:
 * Checking & Savings Accounts
 * Vehicle Loans
 * Personal Loans
 * Credit Cards
 * Home Loans
 * Home Equity Lines of Credit
 * Investment Services
 * Insurance Services
 * Retirement Planning
 * Business Services