1st Nor Cal Credit Union blends traditional member connection with lowest-ever rates and fees

The true value for members of 1st Nor Cal Credit Union ( 1st Nor Cal) lies not only in the solutions that the institution offers during widespread emergencies, but in the fact that many of these same solutions have been available to members for generations.

1st Nor Cal’s responsiveness to the economic challenges brought on by the 2020 pandemic, therefore, was not surprising. Immediately, 1st Nor Cal relied on its nearly 70- year history of individualized commitment to members and their community.

It was long before the pandemic that 1st Nor Cal introduced low- rate emergency loans, waived many account and transactional fees, allowed skipped payments at no charge or even provided mortgage assistance when needed.

As they have done during any member’s individual emergency over time, 1st Nor Cal early in the pandemic waived all transactional and account fees except those required by law. The credit union opened its Skipa- Payment Fee Waiver associated with missing a payment and even extended the number of times members could take advantage of this benefit.

Historically low rates and low — or no — fees

These practices, members know, are what have distinguished 1st Nor Cal from other financial institutions for decades.

“We’re known for not charging many fees and for never charging points on real estate loans,” says David Green, president and CEO of 1st Nor Cal. As a result, 1st Nor Cal has been setting records for the number of mortgages they process.

“We have the lowest fixed rate people can get anywhere on their mortgage,” Green says. He notes that purchase loans and refinances are both growing.

1st Nor Cal also customizes mortgage terms to match individuals’ positions in life. As of early November, for instance, a seven- year mortgage with 1st Nor Cal might fetch an interest rate as low as 2.25%. That amount is even lower than 1st Nor Cal’s already- low car loan rate. Others, of course, enjoy 1st Nor Cal’s 30- year mortgage rate of 2.875%.

Mutual trust benefits members

Since January of 2020, 1st Nor Cal Credit Union has grown by $ 85 million, the most the credit union ever has seen in a single year. And Green knows that this success is a direct result of the shared trust between the institution and its members, who have ownership stake in 1st Nor Cal.

“It’s our philosophy that most of what we make goes back to the members by way of low loan rates, higher deposit rates and low or no fees,” he says. “Everything is done with the member’s benefit in mind.”

Nothing is more important, he adds, than knowing that 1st Nor Cal’s members feel safe in trusting their credit union with their money and their future.

1st Nor Cal membership represents real, quantifiable value to members

“No one should have to pay $ 10 a month for a checking account,” Green says. Likewise, 1st Nor Cal offers low or no fees for deposit accounts, loans and lines of credit including home and auto loans, small- business checking accounts or loans and home equity lines of credit.

This year, all of 1st Nor Cal’s products have grown in popularity.

“People are pulling money out of risky things and going for less risk,” Green says. “They want to make sure their money is safe. When the recession and pandemic improve, some will take some money out for vacations or cars or to go back to their normal lives, but for now, they’re saving.” Serving Contra Costa, Solano and Alameda counties

In 1949, 1st Nor Cal was formed for employees of Contra Costa County. Now, anyone who lives, works or worships in Contra Costa County, Solano County or Alameda County is welcome to join the credit union.

During 2020, 1st Nor Cal increased its offerings in remote, mobile and app- based banking. And in addition to its seven branches — including two in Martinez and one each in Pittsburg,

Brentwood, Benicia, Concord and Richmond — 1st Nor Cal debit, ATM and credit cards are accepted worldwide.

Come for the service, stay for the rates, return for the people

“I’ve been here for 28 years, 17 of them as CEO,” Green says. “Of 80 staff members at seven branches, seven of them have been here longer than I have.”

“We’ve set up accounts for the kids and the grandkids of many of our original members,” Green says. “And we’re seeing young people discover credit unions again; they know they shouldn’t have to spend hours on the phone for answers to simple questions when someone here knows them by name and helps them immediately.”

Visit 1st Nor Cal online at 1stnorcalcu. org for branch addresses and hours or to begin applying for membership online.