Santa Clara County Federal Credit Union
| Company type | Credit union, Non-profit organization |
|---|---|
| Industry | Financial services |
| Predecessor | Santa Clara County Employees Credit Union |
| Founded | May 8, 1950 in San Jose, California, United States |
| Founder | Eight county employees |
| Fate | Rebranded as Mirastar Federal Credit Union in 2024 |
| Successor | Mirastar Federal Credit Union |
| Headquarters | San Jose , United States |
Area served | Santa Clara County and San Benito County, California, United States |
| Products | Loans, savings accounts, discount programs, checking accounts |
| Owner | Members (non-profit) |
Number of employees | 112 |
| Website | www |
Santa Clara County Federal Credit Union, commonly referred to as County Federal, is a credit union dedicated to serving employees and retirees of selected businesses within Santa Clara County, California along with their family members. As a non-profit organization, it functions to support its membership base and is financed by them.
Services
SCCFCU provides a variety of financial products including loans, savings accounts, discount programs, and checking accounts. Due to its non-profit nature, it is able to offer more favorable loan interest rates and enhanced savings returns compared to many for-profit financial institutions, as earnings are redistributed to its members.
Membership
County Federal extends membership to employees of partnered organizations located in Santa Clara County, California and San Benito County. Prominent partners include the Santa Clara County Office of Education, Valley Medical Center, and the state government of California. Eligibility also covers spouses, children, parents, siblings, grandparents, grandchildren, step-relatives, legally adopted children or adoptive parents of current and former members, as well as others within shared economic households, pending verification.
Statistics
Holding federal charter number 24299, SCCFCU ranks among the largest credit unions in the San Francisco Bay Area, managing assets totaling US $500 million and serving approximately 43,000 members. The credit union has about $280 million in outstanding loans and employs 112 staff members, averaging one employee for every 391 members. Important financial indicators include a Net Worth Ratio of 11.03%, a Loan Growth rate of -7.56%, a Loan-to-Assets Ratio of 55.13%, and an Investments-to-Assets Ratio of 40.29%.
Funding
The primary source of funding for Santa Clara County Federal Credit Union comes from its member base. It benefits from insurance coverage through the National Credit Union Share Insurance Fund, which provides access to emergency resources. However, it is not insured by the Federal Deposit Insurance Corporation.
History
Established on May 8, 1950 by eight county employees with an initial capital investment of $107, the credit union was first known as Santa Clara County Employees Credit Union and operated out of 1090 N. First Street in San Jose, California. It secured a federal charter from the National Credit Union Administration in 1987. By 1997, its assets had grown to $200 million, placing it within the top three percent of US credit unions by asset size. In 2024, the institution rebranded itself as Mirastar Federal Credit Union.
Branches
| Branch | Year Opened | Moves |
|---|---|---|
| San Jose Branch | 1950 | Relocated to 852 N. First Street |
| Gilroy Branch | 1970 | Moved in 2004 to 6915 Camino Arroyo, Suite 50 (Gilroy Crossing Shopping Center) |
| Campbell Branch | 1972 | |
| Almaden Branch | 1991 | Relocated in 2005 to 5353 Suite 65 (Almaden Plaza Shopping Center) |
| City Centre Branch | 2007 | |
| East San Jose Branch | 2009 |