Have Additional Questions?

If you still have additional questions e-mail the credit union. We'll answer your questions here so that other members can see the response.

Has the financial crisis impacted Service Plus? -Shari
The financial crisis has had a significant impact on all the financial institutions in the Inland Empire. The counties of Riverside and San Bernardino were some of the hardest hit in the nation when it comes to home values and sub-prime mortgages. Fortunately, Service Plus, as well as most credit unions, did not get involved in sub-prime mortgage loans. As a result, we currently do not have any delinquent first mortgages. We have, however, felt the effects of the economy with our loan delinquency increasing in other loan categories, as some people are having trouble managing ever-increasing mortgage payments with other lenders.

Has it changed how you do business? -Juno
As with all institutions, we’ve re-evaluated our lending criteria and placed more resources toward helping people who are behind on their loans. Unlike many institutions, though, we continue to lend money to our members, and we continue to focus our collections efforts on helping people out of their problems rather than solely focusing on the money.

Are you attracting new members who are turning away from traditional banks? -Juno
We have seen an increase in members coming from larger banks. Many of these members are specifically asking about how the credit union is doing compared to banks. For the first time we have had members ask if we are a member of the FDIC and be happy when we say we are not. Credit unions are federally insured by a different government agency, the NCUA, which has a stronger insurance fund. The fact that we have federal insurance, but we’re not part of the problems related to the FDIC, has been a huge benefit for members.