Meet MyPoint Credit Union | Formerly Point Loma Credit Union (2024)

FAQs

What happened to Point Loma credit union? ›

Point Loma Credit Union Has Become MyPoint Credit Union.

Point Loma Credit Union, a $505 million-asset institution based in San Diego, on Tuesday changed its name to MyPoint Credit Union in an effort to appeal to potential new members.

MyPoint Credit Union (MyPoint) is a member-owned not-for-profit financial institution committed to serving our members and helping them achieve their financial goals since 1948.

Credit unions are insured by the National Credit Union Administration (NCUA). Just like the FDIC insures up to $250,000 for individuals' accounts of a bank, the NCUA insures up to $250,000 for individuals' accounts of a credit union. Beyond that amount, the bank or credit union takes an uninsured risk.

Credit union disadvantages

Membership may require meeting certain work, residential or occupational requirements. Many typically offer branches only in a limited area or region.

1. SchoolsFirst Federal Credit Union. SchoolsFirst FCU is the largest credit union in California, headquartered in Santa Ana, managing $28.72 billion and serving over 1.35 million members.

You can locate your account number in the bottom right of your check or you can call us at 858-495-3400 so we can provide you with your 13 digit account number.

Some, particularly credit unions, have changed to reflect new or expanded membership criteria. And some, well, because the Board or c-suite decided it was simply time for a re-brand.

Today, MyPoint Credit Union holds over $500 million in assets and provides a full array of financial products and services, including savings, checking, loans, mortgages, and digital banking options.

Does MyPoint credit union have zelle? ›

To get started, log into the MyPoint CU Mobile app. In the main menu, select “Send Money with Zelle®”.

NCUA: Number of Credit Unions Continues Decline, But Membership Is Up. The number of federally insured credit unions declined to 4,604 institutions in the fourth quarter of 2023, a drop of 156 financial institutions from a year ago, the National Credit Union Administration said Tuesday.

Better interest rates: Credit unions typically offer higher interest rates on savings accounts because they have lower overhead costs than banks. Similarly, they offer lower interest rates on loans. Customer service: Credit unions pride themselves on offering better customer service than banks.

Credit unions are generally considered to be safer than banks during economic downturns due to their conservative approach to risk and their emphasis on financial robustness.

If the insured bank or credit union does indeed go into bankruptcy, its governing agency will come in to manage the company's assets – including mortgages. For banks, this is the Federal Deposit Insurance Corporation (FDIC). For credit unions, it's the National Credit Union Administration (NCUA).

OnPoint Community Credit Union is a local, not-for-profit financial cooperative. It is owned by you and your fellow members. Our Board is made up of nine Directors who represent the entire membership. Each year, three of the nine positions are open for election.