SAN FRANCISCO, CA (September 3, 2013) -- San Francisco Federal Credit Union, a not-for-profit, member-owned financial institution serving the San Francisco community, announced today that it will expand its community charter to include San Mateo County.
The charter expansion will allow San Francisco FCU to provide membership opportunities to those in San Mateo County. Anyone who lives, works, worships or attends school in San Mateo County will now be eligible for membership. About 4% of the Credit Union’s new members each year already reside in San Mateo County. The Credit Union predicts that about 30% of its new membership could come from San Mateo County in its first year of expansion.
“Over the years, we’ve come to find that there is a clear demand for our services in San Mateo County,” said Steven Stapp, President and CEO of San Francisco FCU. “Our entry into the County will allow us to make our products and services more available to the community. In addition, our presence will allow us to better serve our existing members who live there.”
San Francisco FCU’s expansion plans include opening a new branch in the Burlingame area. The Credit Union has already selected a branch location and plans to announce details of opening the new branch in the coming months. The new branch will be fully staffed and offer all of the services currently offered in the Credit Union’s San Francisco branch locations.
“We’re beyond thrilled to join the San Mateo County family, and we plan to establish our presence there as swiftly as possible so we can get down to the business of serving members,” said Stapp. “I think residents of the County will find that our low fees, affordable rates and people-before-profits philosophy are a great new addition to the community.”
About San Francisco Federal Credit Union
San Francisco Federal Credit Union has been serving San Francisco since 1954. Today, anyone who lives, works, worships or attends school in San Francisco may apply for membership. We currently serve more than 31,000 members. San Francisco FCU is federally insured by the National Credit Union Administration and is an Equal Housing Lender.