Spectrum Credit Union


Welcome to Spectrum Credit Union (Spectrum). Founded in 1973 as Bechtel Employees Federal Credit Union, Spectrum now serves more than 100,000 members around the world.

Spectrum is a not-for-profit financial institution dedicated to improving the economic conditions of its members by:

Providing a safe place to save and borrow at competitive rates;
Being service-oriented and member focused;
Providing a broad range of products and services;
Treating all members fairly;
Valuing the diversity of our members and employees; and
Conducting business for the welfare of all our members.
We will be our members’ lifelong partner in achieving their financial success.

You’re an Owner
When you deposit money into a credit union savings account, you become a member and an owner. While other financial institutions pay profits to outside stockholders, credit unions return their net earnings to their own member-owners through high dividends (interest) on savings and low rates on loans.

The Board of Directors sets policy while various committees provide guidance to the Credit Union’s professional staff and oversee all aspects of the Credit Union’s operations. These unpaid volunteers have a personal interest in the Credit Union’s success because they are member-owners just like you.

A Credit Union Provides High Quality and Affordable Financial Services
Credit unions are cooperative organizations that began in Europe to combat the then-common practice of the wealthy lending money at high rates of interest to those less fortunate. People banded together in protest and started to pool their available money and lend it, at reasonable rates, to their peers in need. “People helping people” is the basic premise of credit unions — then and now.

Most large credit unions provide a full range of services that are equal to or better than those at other financial institutions. Credit unions typically have lower loan rates, pay higher dividends, and often have low or no fees. These are just some of the benefits of being a member of Spectrum.

Service is Personal
With branches in three states, our knowledgeable and friendly staff is ready to assist those members who prefer person-to-person service. Members who are not near a branch can rely on our Call Center Representatives, who take care of members all over the world by fax, telephone, and email.

Strong Federal Share Insurance
Funds on deposit at Spectrum are insured up to $250,000 by the National Credit Union Administration (NCUA), an agency of the federal government. The share insurance coverage through the NCUA is similar to the insurance coverage provided to banks through the FDIC. Both insurance funds are back by the full faith and credit of the United States.

Parent Organization
Spectrum is a division of Chevron Federal Credit Union (CFCU), a leading California-based credit union. Founded in 1935, the Oakland not-for-profit financial institution has more than $3 billion in assets.

Loan Features

Need to Build — or Rebuild — Your Credit History?

If you are just starting to build a credit history, or trying to rebuild damaged credit, Spectrum has loan options for you.

Minimal Credit History

Members with minimal credit history are now eligible for:

An auto loan up to $15,000
An unsecured line of credit up to $2,000
To qualify for either of the two loans, you must have:*

Two current paystubs
Minimal credit
No derogatory history
Completed the “Credit Matters” course on balancetrack.org with a score of 90% or higher

No Credit History or Damaged Credit History

Share/Certificate Secured Loans and Share Secured Lines of Credit allow you to borrow money against your Share or Certificate Savings accounts. Use these loans to build credit history or to make a large purchase without wiping out your accounts — no credit check required!

For Share Secured or Certificate Secured Loans, funds totaling 100% of the loan amount will be held until the loan is repaid. Loan amounts start at $500 and require a minimum monthly loan payment of $25.

For a Share Secured Line of Credit, only Share accounts can be used as collateral, and funds totaling 110% of the loan will be held until the loan is repaid. Loan amounts range from $500 to $100,000 with a minimum monthly payment of $25. Your initial rate will be determined by the percentage of shares being used as the credit limit and will adjust monthly thereafter.

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