Wescom Central

                                       WESCOM CU

Wescom was founded in the early 1930s, 1934, to be exact, by thirteen individuals who decided to pool $ 65 dollars as an alternative to the other financial institutions at that time, to create a financial organization in which they, the employees, can make the big decisions.  They called the new company the Telephone Employees Credit Union. By 1980 the company already had $ 500 million in assets and had expanded to ten branches. By that time it was serving 80, 000 members. With the birth of electronic banking the company kept pace with the new advances in technology by installing ATM machines and phone services. Soon after, Wescom started to offer memberships towards the immediate family members of employees. 

Wescom Credit Union became the company’s official name in 1996.   The company grew to 56 branches and now, after 70 years of service, the company is estimated to be worth $ 3.9 billion in assets, with around 335, 000 members.

Wescom is a non-profit cooperative. Wescom, like other credit unions share some similarities with typical banks and saving loans  in that it accepts deposits and grants loans to customers, or members, I in the case of credit unions, for the primary  purpose to gaining profits which will benefit  a small group of stockholders.  Unlike banks, credit unions are  non-profit institutions that share a group of people who are linked by something that they  have in common, like a geographical location, membership to one church, being employees of one company, etc.   As with any other cooperative the members own the company and therefore get to receive the financial benefits which are derived from the earnings of the company’s financial transactions. Members can avail of high savings, low loan rates, as well as easy access to their accounts through the many branches and ATM centers. Wescom offers a variety of services, like Teller# Phone  which allows anyone  to conduct banking transactions through phone. eBranch online banking also allows easy internet access for more convenience.  Wescom also offers free educational seminars to prospective members. Wecscom  now also offer dental and health discounts to its member. Anyone who is a resident of Los Angeles, Orange, Riverdale, San Diego, Santa Barbara, and Ventura counties  is eligible to  open  a Wescom account, as well as anyone who is an immediate family member of any Wescom member in good standing with the company.

Wescom ‘s pride is its personalized service that is friendly and caters to the individual financial needs of  each member. Members can conduct their transactions through the many branches and ATM machines, and can get help by calling the Member Service Center, or visit the website online. The credit union boasts of the lowest credit rates on deposits, home and auto loans, free checking accounts,   online bill payments, and advice on financial planning. It stands by its original goal to give the best financial service to the members, to keep true to its history as a financial organization that was formed and owned by its members.