Credit Unions in the State of California: Greater Valley Credit Union

Overview

Greater Valley Credit Union, formerly known as California State Employees Credit Union No. 4, is a significant US nonprofit credit union operating in California. Established in 1936, it has become one of the most financially sound financial institutions in the Central Valley of California.

Membership

Membership in Greater Valley Credit Union is available to individuals who live or work in Fresno County or Madera Ranchos, as well as District 6 state employees or their retirees. Additionally, family members of existing members are also eligible to join. The process of becoming a member involves a low one-time membership fee and a minimal initial deposit into a savings account.

Operations

Greater Valley Credit Union is a member-owned, nonprofit organization. Its operations are guided by a Board of Directors composed of volunteers elected by its members. This governance structure ensures that the credit union's policies and direction align with the interests of its members. Any surplus generated by the credit union is returned to its members through higher interest rates on savings accounts and lower interest rates on loans.

Financial Services

The credit union offers a wide range of financial services, including new and used auto, RV, and boat loans, share secured loans, unsecured personal loans, home equity loans, and VISA credit cards. It also provides real estate mortgage options. The loan rates are competitive, and the terms are flexible to cater to various financial needs of its members. Additionally, Greater Valley Credit Union provides financial assistance to members facing difficulties in making loan payments, aiming to help avoid foreclosure and other financial hardships.

Regulatory Status

Greater Valley Credit Union is a regulated entity under the California Department of Financial Protection and Innovation (DFPI), operating within legal and regulatory frameworks designed to protect its members and ensure financial stability.

[1] https://www.greatervalleycu.org/about-us [2] https://www.greatervalleycu.org [3] https://dfpi.ca.gov/regulated_entity/greater-valley-credit-union/ [4] https://www.greatervalleycu.org/loan-rates [5] https://www.greatervalleycu.org/apply-for-loan