Locally-based credit unions showed impressive strength this year, growing assets by 8.6%, and boosting profits—capped by a year-end merger of two Christian financial institutions that formed what’s said to be the largest faith-based credit union in the U.S.
Consumers and some businesses often turn to credit unions in times of uncertainty and 2025 was no exception.
SchoolsFirst Federal Credit Union took its usual No. 1 slot on this year’s Business Journal list of the largest such institutions, as its assets jumped just over 10% to $34.1 billion as of June 30. Net income for the first six months of this year surged to $98.9 million, up from $57 million in the same period last year.
“We had a good third quarter and a solid financial year so far, exceeding expectations. Our credit union remains strong with more than $34 billion in assets,” CFO Michael Faulwell told the Business Journal on Dec. 3. “The asset growth is driven by strong share growth and member participation. We expect growth to moderate slightly in 2026, but to still remain strong.”
$50B at 16 Institutions
Overall, for the 16 credit unions surveyed by the Business Journal, total assets climbed to just under $50 billion as of June 30 compared to $46 billion for the same period in 2024. Total net income surged to $149 million for the six months ended June 30, up from $93 million in the same half-year period of 2024.
Of the 16 credit unions, five reported a decline in assets compared to the same period in 2024, including Eagle Community Credit Union in Foothill Ranch, Sea Air Federal Credit Union in Seal Beach, Capstone Federal Credit Union in Aliso Viejo, Center City Community Credit Union in Buena Park and Fountain Valley Credit Union.
No. 1 ranked SchoolsFirst surpassed 1.5 million members, and on the philanthropic front, the organization donated $3 million to CHOC’s (now Rady’s Children’s Health) new nine-story tower. In recognition, the building’s first-floor lobby was named the SchoolsFirst Federal Credit Union Lobby.
Nuvision Credit Union, ranked No. 2, enjoyed an 11% growth to $3.9 billion in assets as of June 30. In the past year, the Huntington Beach-based organization made three acquisitions to expand into San Diego and the San Francisco Bay Area.
“Our credit union is doing very well,” CEO Roger Ballard told the Business Journal. “We’re having a very positive 2025, which is particularly exciting given it’s also our 90th anniversary.”
Credit Union of Southern California was third on the list as the Anaheim Hills-based institution’s assets climbed 3.1% to $3.5 billion as of June 30. Net income of $15.7 million for the first half of 2025 declined from nearly $22 million for the same period in 2024.
Brea-based American First Credit Union saw a 5.7% rise in assets to nearly $1.1 billion as of June 30, putting it in seventh place.
“Growth in commercial real estate lending and select fintech partnerships helped to increase total assets,” CEO and President Jon Shigematsu told the Business Journal. “American First expects the solid growth of loans and deposits experienced in the second half of 2025 to continue to increase total assets in 2026.”
Christian-Based Credit Union Merger
Brea-based AdelFi Credit Union, the eighth-largest credit union by assets based in Orange County, has merged with Christian Community Credit Union of San Dimas in Los Angeles County.
The union, effective Dec. 1, creates the nation’s largest faith-based credit union, the financial organizations said.
Brea-based AdelFi, with $583 million in assets as of June 30, has begun operating as a division of Christian Community Credit Union. The organizations will start operating as a combined entity under the AdelFi name in mid-2026.
Christian Community CEO Blair Korschun will lead the combined company, while AdelFi interim CEO Susan Rushing will serve as chief risk officer.
Rushing said the merger underscores the credit union’s mission to “to follow God’s leading and seek what’s best for our members and the broader Christian community.”
The Comunidad Latina Federal Credit Union in Santa Ana was in 15th place on this year’s Business Journal list, as its assets jumped nearly 14% to $10.3 million as of June 30. n
Research Director Desmond Celo contributed to this report.
