About Us

Credit Unions were founded on the social purpose of “People Helping People.”  In fact, credit unions exist to help people, not make a profit.  Our goal is to uplift communities by empowering members to live better and do better. Our members are fiercely loyal for this reason.  They know their credit union will be there for them in bad times, as well as good.

Anyone who lives, works or worships in the community known as South Bay can have an account with South Bay Credit Union.


The short version of our history can be summed up in one simple sentence—people helping people. It’s who we are. It’s what we do.

For the long version we have to go back to 1953, the year we first opened our doors. It was a year that started with Harry Truman in the Oval Office and Joseph Stalin ruling the USSR in Moscow. If you’re like some of our youngest members (Jessie, age 8, whose mom recently opened a savings account for her) that might as well be “ancient times.” If you’re a little bit older (like most of us) you probably recognize that’s quite a legacy.

Much has changed since then and the South Bay Credit Union has evolved along with the community we serve. When we opened for business in the early 1950s, we were known as Centinela-South Bay Credit Union and our members were largely employees of Redondo Beach and Manhattan Beach and their families. Over the years we continued to grow and expand, mostly in the public sector— to include local school districts, police and fire departments, and other organizations across the South Bay. In 1993 we changed our name to South Bay Credit Union because we felt it better reflected our home and our heritage.

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Several years later in 1998, we merged with Palos Verdes Schools Federal Credit Union (PVSFCU—yes that’s quite an acronym!). PVSFCU began in 1961 and had its own rich 37-year heritage of serving the Palos Verdes school district and its employees. Our merger with PVSFCU created our second branch and expanded our ability to better serve a larger portion of the South Bay. It was also the year that former PVPUSD teachers Jerry Gaines and Perry Lynn joined SBCU as volunteers. Almost 20 years later, we are proud to say that both Jerry and Perry are still part of our member-run organization. Our last major organizational evolution took place on February 28th, 2002 when we officially changed our charter and became the community-based credit union our members know and love today.

After well over 65 years of service, you might think we were ready to take a breather but that’s just not how we operate. Like the community we serve, we will never stop evolving and changing. We will always continue our long tradition of constantly seeking ways to serve you better.

People serving people. It’s who we are. It’s who we’ll always be.

Anyone who lives, works or worships in the community known as South Bay can have an account with South Bay Credit Union.


When you join South Bay Credit Union you become a member of a cooperative community network of “people helping people.” SBCU is guided by a Board of Directors composed entirely of volunteer members and a Supervisory Committee elected by the membership. These non-paid volunteers set SBCU policy while a professional Management team oversees the day-to-day operation of the credit union. As a member, you are welcome to take your membership to the next level and volunteer to serve.

Our executive team is responsible for the daily operation of the credit union. The President/CEO is hired by the Board of Directors to manage operations and build the executive team.

Executive Staff
Maricela Jauregui President, CXO
David Ellings CLO
Frank Espinoza CRO
Don Steinman CFO

The Credit Union Difference

The credit union difference is all about making a difference. Skeptical? Good. It’s always better to rely on the facts so here are a few to get you thinking. Last year credit union members nationwide collectively saved a staggering $12.3 billion (no, that’s not a typo) by choosing to become a member of their local credit union instead of a customer of one of those big national banks. How do credit unions create that kind of savings? SBCU is like every other credit union—we exist to help our members, not to make a profit. That’s right, we are a not-for-profit financial cooperative. Unlike big banks which typically have shareholders who divide up the earnings. Rarely do those earnings have any significant benefits for the bank’s customers. SBCU returns its earnings to our members in the form of better rates and lower fees that save you money.

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In case you aren’t convinced, here are a few more facts. SBCU offers a wealth of convenience with three centrally located branches in the South Bay.  Credit unions cooperate together – our members have access to a network of 28,000 varying credit union ATMs available free of charge where they can take care of business while away from home. SBCU offers online banking and bill pay and a mobile banking app so you can take care of business on the go. If it sounds like everything you need to manage your financial life then you haven’t missed a thing.

All of those facts create a compelling case for switching to SBCU. But if they were all you considered you would miss the key difference that we are most proud of and our members truly appreciate. What is it? It’s our people. It starts with our branch employees who go out of their way to get to know you personally so they can serve you better. And it extends all the way to our volunteer, member-run board who keep SBCU focused on delivering the kind of service you simply won’t get at a large national bank. Big banks are proud of their earnings and profit margins. We don’t need to worry about those things. We take pride in helping you realize your financial goals. Like our wonderful South Bay community, it’s the people who truly make the difference at SBCU.

Mission and Vision

Mission Statement

South Bay Credit Union exists to uplift communities by empowering members to live better and do better.

Vision Statement

Being an integral part of a community in which all are financially empowered to live their very best lives.

In the Community

Our main goal as a not-for-profit financial cooperative is to serve the needs of our members and our community. But we believe there is more to life than just dollars and cents. SBCU and its employees and volunteers take great pride in working with organizations seeking to help those in our community who are in need. Take a look at our Community Events page to see how you can get involved and make a difference.

Bank Holidays Observed

We believe in work-life balance and so we observe the typical banking holidays.  Fear not, even when we are closed for the holiday, you will have access to your money through online banking or our mobile app.

2021 Holiday Schedule:

  • New Year’s Day, Friday, January 1, 2021
  • Martin Luther King Day, Monday, January 18, 2021
  • President’s Day, Monday, February 15, 2021
  • Memorial Day, Monday, May 31, 2021
  • Independence Day, Monday, July 5, 2021
  • Labor Day, Monday, September 6, 2021
  • Indigenous People Day, Monday, October 11, 2021
  • Veterans Day, Thursday, November 11, 2021
  • Thanksgiving Day, Thursday, November 25, 2021
  • Family Day, Friday, November 26, 2021
  • Christmas Eve Day, Thursday, December 24, 2021
  • New Years Eve Day, Thursday, December 31, 2021