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About the Charter

Credit Union Charter

Putting Our Members First
At Arrowhead, we provide our members with world-class service, competitive products, and services that make it easy to do banking. But more importantly as a not-for-profit member-owned cooperative, we are responsible to our members.

Since our beginning, we’ve followed the principle of “people helping people” and that continues to be at the heart of what we do every day.

Recent Years at Arrowhead
Our earnings are returned to members in the form of lower loan rates, higher savings rates, low-to-no fees, and a host of complimentary services. Put simply, as more members participate in the Credit Union, we’re able to return more value to our membership.

Looking Ahead
We have an incredible opportunity to create even more value for our membership. Arrowhead’s Board has approved our pursuit to become a federal-chartered credit union. And, as a member-owned cooperative, this change is being presented to the membership for approval.

What This Means for Current Members
For members, this change will be seamless and largely unnoticed as our operations will continue as you enjoy them today.

Over time, this change allows us to offer membership in communities we’ve not traditionally served and gives us the ability to expand out of state. As more members join, we can give more back to our member-owners.
 

Vote for Federal Charter
Members are invited to attend a special in-person meeting of the members to vote on a change to federal charter.

 

Tuesday, February 18 @ 5pm (PST)

8686 Haven Ave
Rancho Cucamonga, CA 91730

 



FAQs

Does this conversion affect federal deposit insurance?

No, accounts will continue to be insured by the National Credit Union Share Insurance Fund (NCUSIF), as managed by our federal regulator, the National Credit Union Administration. Existing deposit insurance will not change.

What will happen to Arrowhead’s Inland Empire roots?

We remain committed to serving the Inland Empire and the surrounding areas, including maintaining our primary workforce and headquarters here. Members will not see a change in our branch structure as a result of this conversion, nor a change in service.

What is the difference between a state and federal chartered credit union?

A federal charter means the Credit Union is regulated by the National Credit Union Administration (NCUA). A state charter means the Credit Union is regulated by the Department of Financial Protection and Innovation (DFPI) which regulates all California state-chartered credit unions and other financial institutions for compliance with the laws and regulations of the state of California, as well as appropriate rules and regulations of federal agencies.

What are the financial impacts of the charter change?

We are confident that the income and growth opportunities associated with this proposed change outweigh any additional costs.

Will current members be impacted by the change?

No, nothing is changing for current members.

Does this change who will be eligible for membership?

While there will be changes that help broaden our field of membership, a member who can join today will be able to join when we change to a federal-charted credit union. Current members are not impacted by the change to eligibility – once a member, always a member!

Why is the Credit Union making this charter change?

By converting to a federal charter, we can serve more members which allows us to offer competitive rates, reduce or eliminate fees where possible, and invest in new products, services, and technology to better serve our members.

Do members have to approve the change from a state to federal charter?

Yes. Having obtained approval from our Board of Directors, the second step is approval by our members. Members are invited to attend a special in-person meeting of the members to vote on a change to federal charter.

Tuesday, February 18 @ 5pm PST
8686 Haven Ave Rancho Cucamonga, CA 91730

If you plan to attend the meeting, please visit arrowheadcu.org/charter to RSVP and complete the RSVP form. Upon that approval, the third step is gaining approval from the National Credit Union Administration (NCUA).

When will the charter change happen?

We anticipate the full process of converting to a federal charter will occur in Spring 2025.

How will members benefit?

Members will benefit from this conversion in a number of ways. Through a federal charter, the Credit Union can pursue more growth opportunities outside of our traditional field of membership. This could result in added locations to conduct business and serve members who are located outside the areas we currently serve. Also, growth for the Credit Union means more resources available to improve our members’ banking experience.

Am I able to attend this meeting virtually?

We anticipate many of our more than 200,000 members attending the meeting. To facilitate discussions about the charter change with a large group, the meeting is taking place in person.

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Equal Housing OpportunityNational Credit Union Administration This Credit Union is federally-insured by the National Credit Union Administration. We do business in accordance with Federal and State Fair Lending Laws and Equal Credit Opportunity Act.

NMLS #763460

If you are using a screen reader or other auxiliary aid and are having problems using this website, please call (800) 743-7228 for assistance. All information available on this website is also available at any of our branches.

 

Equal Housing OpportunityNational Credit Union Administration
 

This Credit Union is federally-insured by the National Credit Union Administration. We do business in accordance with Federal and State Fair Lending Laws and Equal Credit Opportunity Act.

NMLS #763460

If you are using a screen reader or other auxiliary aid and are having problems using this website, please call (800) 743-7228 for assistance. All information available on this website is also available at any of our branches.

 

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