Altura Credit Union
| Company type | Credit union |
|---|---|
| Industry | Financial services |
| Founded | 1957 |
| Headquarters | Riverside , United States |
Area served | Riverside County, San Diego County, parts of Orange and San Bernardino counties, California |
Key people | Jennifer Binkley (President/CEO) |
| Products | Checking and savings accounts, mortgage lending, credit cards, wealth management |
| Website | altura |
Altura Credit Union (commonly known as Altura) stands as the largest credit union based in Riverside County, California, boasting a membership exceeding 175,000 and assets surpassing $2 billion as of December 2022. This federally insured and state-chartered financial institution provides a comprehensive range of services such as checking and savings accounts, residential and commercial mortgage lending, credit card offerings, and wealth management solutions. Altura is also a participant in the CO-OP Financial Services and CU Service Centers shared network systems.
Institutional History
Established in 1957 under the name Riverside Schools Credit Union to serve employees within county school districts, Altura expanded its reach significantly after merging with Riverside County Federal Credit Union in 1998. This union broadened its membership base to encompass both public and private sector workers throughout the county, adopting the name Riverside County's Credit Union.
By 2004, with membership eligibility extended to residents of Riverside County, San Diego County, and select municipalities within Orange and San Bernardino counties, the organization rebranded itself as Altura Credit Union, unveiling a refreshed corporate identity.
Merger with Visterra Credit Union
In 2015, Altura combined forces with Visterra Credit Union, another Riverside County-based credit union, aiming to enhance service offerings for their joint memberships. The merger was finalized on August 1, 2015, resulting in a credit union valued at $1.1 billion with approximately 118,000 members. At the time of the agreement, Altura held assets totaling $757.3 million and served nearly 84,000 members; Visterra managed $335.6 million in assets with around 34,000 members. The consolidated institution continued under the Altura name. Integration of core operational systems was completed by March 1, 2016.
Membership
Altura’s membership criteria are governed by the California Department of Financial Protection and Innovation. Eligibility extends to individuals residing, working, worshipping, or attending school within Riverside County, San Diego County, and designated cities in Orange County and San Bernardino County. Following the merger with Visterra, membership expanded further to include U.S. military personnel, government employees, civilian staff at March Air Reserve Base in Riverside County, as well as retirees from the U.S. Armed Forces.
Branch Locations
Altura Credit Union maintains a network of 19 full-service branches alongside 52 branded automated teller machines (ATMs) throughout Riverside County. Additionally, members benefit from access to over 5,200 shared branch locations and more than 30,000 ATMs across the country.
Auto Expert
Altura operates Auto Expert, a vehicle sourcing and purchasing service designed to assist its members along with those from 11 affiliated credit unions in acquiring new or used automobiles. In recognition of its operational excellence, Auto Expert was honored with the California Award for Performance Excellence (CAPE) Gold Award in 2007—the state’s counterpart to the Malcolm Baldrige National Quality Award.
Institutional Milestones
- 1957: Charter issued for Riverside City Schools Employees Credit Union serving classified staff within Riverside Unified School District.
- 1963: Charter expanded to include all school employees across Riverside County; renamed Riverside Schools Credit Union.
- 1965: Assets reached $1 million milestone.
- 1973: Headquarters relocated to Riverside Avenue.
- 1984: Opened its 10,000th account; introduced VISA card services.
- 1988: Mark Hawkins appointed President; assets grew to $40 million.
- 1989: Renamed Riverside County Schools Credit Union.
- 1992: Established proprietary ATM network.
- 1993: Initiated College Scholarship Program through Altura Foundation.
- 1995: Opened Member Service Center; assets surpassed $100 million; RCSCU Foundation received IRS approval; launched VISA Check Card.
- 1998: Merged with Riverside County Federal Credit Union forming Riverside County's Credit Union with assets totaling $250 million and membership reaching 60,000.
- 2004: Transitioned branding to Altura Credit Union.
- 2011: Received Gold Award from Marketing Association of Credit Unions for advertising campaign excellence.
- 2012: Voted "Favorite Credit Union" by readers of The Press-Enterprise.
- 2014: Entered exclusive four-year partnership with Highlanders Sports Properties at University of California, Riverside (UCR), featuring branded debit cards, promotional activities, venue signage, and an ATM installation at SRC Arena.
- 2015: Completed merger with Visterra Credit Union broadening membership to include military-related groups; Ofelia Valdez-Yeager appointed as first female Chairperson of the Board.
- 2016: Mark Hawkins announced retirement after serving as President & CEO for nearly three decades.
- 2017: Jennifer Binkley named President/CEO; previously served as EVP/COO since 2008 and former president of Auto Expert.