# Southland Credit Union

Southland Credit Union is a not-for-profit community-chartered credit union in California, United States serving the residents of Orange County and Los Angeles County. They have over 60,000 members and $1 billion in assets. Southland Credit Union's member-owners get a full spectrum of financial products. Southland Credit Union was founded in 1936 to serve the financial needs of Los Angeles County employees.

## 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.
* 1989 - Merged with Auto Pro Federal Credit Union, South Coast Medical Center Federal Credit Union and Mobilehome Owners Federal Credit Union
* 1991 - Merged with Graphic Arts Credit Union.
* 1994 - Name changed to "Southland Civic Federal Credit Union" and the Credit Union received a federal charter. Merged with Los Angeles County Bar Association Credit Union.
* 1991 - Merged with Saints Federal Credit Union.
* 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.
* 2014 - Merged with Westside Employees Federal Credit Union, which served the employees of Saint John's Health Center in Santa Monica and merged with Patriots Federal Credit Union in Tustin, which served legacy military personnel stationed at Marine Corps Air Station El Toro.
* 2017 - Merged with Harbor Federal Credit Union, which served the employees of Harbor–UCLA Medical Center in Carson.

## 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
    Los Angeles, 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

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of December 31, 2020 Southland Credit Union had $1.64 million in non-current loans and owned real-estate with $101.67 million in equity and loan loss allowances on hand to cover it. This gives Southland Credit Union a Texas Ratio of 1.61% which is excellent. 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 dramatically from 6.96% as of December 31, 2019 to 1.61% as of December 31, 2020, resulting in a positive change of 76.86%.This indicates that the balance sheet and financial strength for Southland Credit Union has improved dramatically in recent periods.

### Deposit growth

In the past year, Southland Credit Union has increased its total non-brokered deposits by $139.49 million, resulting in 20.56% 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 excellent.

### 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 $995.94 million in assets with $101.67 million in equity, resulting in a capitalization level of 10.21%, which is above average.

## Products and services

Southland Credit Union offers:
* Checking and savings accounts
* Vehicle loans
* Personal loans
* Credit cards
* Home loans
* Home equity lines of credit
* Investment services
* Insurance services
* Retirement planning
* Student loans
* Business services