San Diego Metropolitan Credit Union

Specialties

Credit Union specializing in financial services such as auto loans, VISA, lines of credit, solar loans, home energy upgrade loans, account services, online banking, electronic bill payment, electronic statements, text banking and mobile banking.

History

Established in 1934.

The Credit Union was founded in 1934 during the Great Depression. Many employees of the City of San Diego had been laid off and those that weren’t suffered from a reduction in wages. City employees were looking for financial relief. Work began with a small group of prospective members. The group committed to purchase nearly $ 2,000 in shares and the City Auditor & Controller agreed to authorize payroll deduction. On August 21, 1934, San Diego Municipal Employees Credit Union was born. Four months later, over 300 members had joined and assets totaled approximately $ 35,000. In 1937, the credit union’s bylaws were amended to be inclusive of all City employees, since it was originally chartered to serve only Municipal Employees Association members. Throughout the decades, many groups were added to the field of membership and the credit union changed its name — in 1981 to San Diego Municipal Credit Union and then in 1997 to San Diego Metropolitan Credit Union, its name today.