SESLOC Federal Credit Union tops one billion in assets
SAN LUIS OBISPO, CA (October 10, 2020) — SESLOC Federal Credit Union announced they have surpassed one billion dollars in assets as of quarter-end September 30, 2020.
“The ‘billion dollar in assets’ milestone is truly a monumental achievement,” said Geri LaChance, SESLOC President and CEO. “The credit union’s growth is especially significant at a time when financial institution mergers and acquisitions are prevalent; SESLOC’s growth has been achieved organically, building healthy relationships with households in our communities over decades.”
In 1942, ten San Luis Obispo educators, meeting in the SLO High School library, formed the credit union with $500 in assets as a way for people to borrow at a reasonable rate under honest and fair conditions. While originally a credit union established just for educators, SESLOC expanded their charter in 2001 to offer affordable financial services to all residents of San Luis Obispo County, and then again in 2015 to those in northern Santa Barbra County, growing to 56,000 members. SESLOC honors its educational roots by providing $20,000 a year in grants to local K-12 school teachers and offering ongoing financial wellness support for members.
“Our heart and focus is people and place; this Central Coast region that has supported the credit union’s positive growth for close to 80 years,” said LaChance.
About SESLOC Federal Credit Union
SESLOC Federal Credit Union is a not-for-profit, full-service financial institution on California’s central coast since 1942, now operating with five branches in San Luis Obispo, Paso Robles, Atascadero, Arroyo Grande and Santa Maria. With assets of $1 billion, their 160 employees provide valuable financial and educational services to more than 56,000 members. SESLOC membership is open to anyone who lives, works or goes to school in San Luis Obispo or Northern Santa Barbara County. For more information, please visit www.sesloc.org.
