Orange County Teachers FCU Goes to TIP Charter

SANTA ANA, Calif. – Orange County Teachers Federal Credit Union (OCTFCU) has received approval to switch from a multiple-group sponsor to a trade, industry, profession charter. The change means the credit union can now serve anyone in the educational services industry in a 10-county Southern California area that stretches from south of San Diego to north of San Luis Obispo. OCTFCU, which has been serving the Orange County educational community since 1934, has $5.2 billion in assets and 314,000 members. Under the charter change approved by NCUA, the credit union can serve people in the educational community in the counties of Imperial, Kern, Los Angeles, Orange, Riverside, Santa Barbara, San Bernardino, San Diego, San Luis Obispo, and Ventura. Eligible members include employees of public and private elementary and secondary schools, community colleges, colleges and universities and educational foundations. Family members of those employees are also eligible. Non-educational organizations and students that were previously eligible are now excluded. OCTFCU officials said they planned to open an express center in Long Beach in the coming month, which would join one already operating in Corona (Riverside County).