1933 – 2023
90 Years. One Purpose.
In 1931, Georgia B. Parsons was asked to represent her Elementary Teachers’ Club at an annual convention of public school superintendents. She went to local lenders looking for a loan to buy a new wool suit for the occasion but was turned down because the lenders “didn’t favor teachers’ loans.”
To get money for her new suit, Parsons had to go to a loan shark who charged exorbitant interest rates.
Parsons realized then that teachers deserved a financial institution that would take their needs seriously. “The idea was born right then and there,” Parsons said. “Some day the teachers will have their own credit union.”
On July 10, 1933, Parsons and 10 other teachers and administrators joined together to charter the Los Angeles Teachers Credit Union. The rest is our history.
Milestones in Our History
Since that time, we’ve become one of the largest credit unions in California, serving more than 170,000 school employees, community members, and businesses with assets of over $4.5 billion and 24 locations from Santa Clarita to San Diego.
While much has changed over the past 90 years, Ms. Parson’s legacy remains firmly in place, guiding our commitment to support the dreams of our members.
