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San Diego County Credit Union is a nonprofit cooperative with the employees as members.  As not-for-profits, credit unions return profits to members in the form of better rates, fewer fees, and more financial services. In addition, credit unions are different animals than commercial banks or retail mortgage companies in membership or clientele. Membership is usually defined by the institution and can be in terms of employment, geographic location, or any other standard the membership agrees to define as a condition for membership. SDCCU has decided the bigger the credit union, the better the credit union.

The Benefits of Membership

Originally chartered in 1938 as San Diego County Employees Credit Union. During the 1970’s, SDCCU expanded its membership to include all San Diegans and today, is open to everyone living or working in San Diego, Riverside or Orange County. Those outside of the area can open an account by joining the Financial Fitness Association, which just seems like a dodge so anyone can join – they ask for an $8 one-time fee to join the FFA for one year. They function as a financial institution very similarly to a regular bank, so SDCCU offers a broad range of loan options to its members. Conventional – Fixed 10 to 30 year terms, Jumbos – borrow up to one million dollars, refinancing options, and adjustable or fixed rate home equity loans. All of the options are listed under their Mortgage Loan tab with some of the relevant information like interest rates and apr’s for each product.

The Support Services Available to Members

As a member you would have access to all the services and the very well organized digital application process as well as a Dedicated Mortgage Team to work with you throughout the process. The numerous benefits of credit union membership are too numerous to list, but the mortgages seem to be an excellent deal.