Member Spotlight: Point Loma Credit Union

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May 17, 2018

Tell us about your company.

Point Loma Credit Union is a member-owned financial cooperative providing banking services including savings, loans, and other financial services to members. Since 1948, the field of membership has expanded and now includes everyone who lives, works, or worships in San Diego and Riverside Counties and members of their families.


What products or services does your business provide?

Deposit products, personal loans, auto loans, solar financing, real estate and business loans.


What was the most memorable or successful moment in your business’ history?

Seventy years ago, a group of employees at San Diego’s Navy Electronics Laboratory decided to create something better than a bank. It would be a financial cooperative, responsible to members, not stockholders. It would be a safe place to save and an easier place to borrow.  On March 26, 1948, NEL Employees Federal Credit Union received its charter.  That was the beginning of what would become Point Loma Credit Union. Let’s celebrate. We are 70 years young.


Tell us an interesting fact about your business.

Point Loma Credit Union adopted the lighthouse as our logo because it’s a beacon for boats of any size; from fishing boats to cruise ships, from sailboats to carriers. A lighthouse is an equal opportunity guidance system, and that’s what we are. We illuminate financial options, embrace volunteerism, energize generosity and epitomize the credit union philosophy of people helping people. A rising tide really does lift all boats.


What tips/advice can you offer that is related to your business' industry?

BEWARE OF FAKE CHECKS! PROTECT YOURSELF FROM THE LATEST SCAM

Two hands holding up a sign that says SCAM! Personal checks look simple and innocent. Recently, though, the Federal Trade Commission (FTC) and other agencies have warned about increases in fake check scams.

There are several variations of the scam, and they all end with you losing thousands of dollars.

The scam may be done under the pretext of a work-at-home job, an online sale or sweepstakes that you’ve miraculously “won.” You’ll be asked to deposit a check or money order that’s worth thousands of dollars more than what you’re owed and then to wire the difference to your contact.

Of course, these checks are phony. Unfortunately, because they can be extremely difficult to recognize, it can take several weeks for a financial institution to identify them as fake. By that time, you may have already paid the requested amount to the scammer, and when you realize the check was fraudulent, it’s too late to reclaim your money. Worse yet, you’ll be responsible to pay the fee for the bounced check on top of what you lost.

Keep yourself safe by following these tips: https://plcu.com/home/financial-literacy/current/beware-of-fake-checks-protect-yourself.


Do you have any upcoming events or information you want your fellow Chamber Members and the community to know about?

Our amazing membership and talented employees are the principal authors of Point Loma’s seventy-year success story. We’ve lived long and prospered across 8-decades because we’ve been able to adapt, to take advantage of opportunities and to weather difficult economic times. Just as important, we’ve encouraged and maintained a strong connection to the communities we serve.

Our 70th is a cause for celebration but we want to make it about something more. We want to make it the celebration of more than one worthy cause. So, throughout the year we will spotlight local organizations, charities and non-profits that make a difference.  What a perfect way to begin the next 70 years.
 
 



For more information on Point Loma Credit Union, please visit their website

at www.plcu.com or call (858) 485-0812.

Contact:
Adriana Brunner, Business Development Manager
(858) 485-0812