California Coast CU Celebrates 75th Anniversary

Founded in 1929 as a credit union for San Diego schoolteachers, California Coast Credit Union is celebrating its 75th Diamond Anniversary this year. It’s recognized as one of the area’s largest credit unions, a staunch supporter and partner of San Diego’s educational community, and an institution that has helped improve the quality of life for countless members over the years.

Known originally as San Diego Teachers’ Credit Union, California Coast Credit Union has evolved over the years into a robust financial institution with $750 million in assets, serving 68,000 members.

The credit union has developed a reputation among members as a financial institution that strives to make a difference in their lives by taking sometimes extraordinary measures to help them overcome financial obstacles.

Long-time members have seen the institution grow and mature during its 75 years. Merrill McLaughlin, an 84-year-old La Mesa retiree who joined the credit union in 1946 and has been a member for 58 years, was a high school teacher and past president of the San Diego Teacher’s Association (SDTA). In that capacity, he was responsible for coordinating the financing on construction of a new SDTA building. He worked closely with the credit union to obtain the financing.

He also had friends who worked for the credit union at its first branch location on Park Boulevard, a branch that still exists. “I got to know the people who worked there and saw that it was a warm, friendly place,” McLaughlin says. “We all took care of one another. They came through when I needed an interim loan between the time that I was buying and selling a home. I’ve never forgotten that.”

Like McLaughlin, Gladys Williams, who is celebrating a 75th birthday this year along with the credit union, has remained a member because she likes the people who serve her, the credit union’s caring atmosphere, and the attractive interest rates offered on loans and share certificates. “When I find a place where the people are friendly and helpful, I tend to stay a long time,” said Williams, a retired teacher. “I like that [the credit union is] member-owned, it’s convenient, and I have immediate access to my money. That’s important to me.”

Through the nearly 50 years that she’s been a member, Williams has relied on the credit union for her savings, auto and home improvement needs, and help financing her son’s education.