What began as a small group of educators nine decades ago continues its mission of supporting local education as one of California’s largest credit unions.
Today, California Credit Union ($5.0B, Glendale, CA) serves nearly 200,000 members in Los Angeles County and surrounding areas. As a CDFI, the credit union’s mission is deeply rooted in service and philanthropy.
“One of our core cultural pillars is providing opportunity and education to youth in our communities,” says Stacy Santeramo, director of HR operations.
California Credit Union’s field of membership is home to more than 1,000 public K-12 schools and as many as 230 colleges and universities. Over the years, the credit union has launched several initiatives thanks to partnerships with school districts and government agencies. It began an annual college scholarship program in 2005 and a semi-annual grant program for teachers in 2012. And four years ago, it introduced a summer internship program.
Santeramo, who had established a similar program at a previous credit union, says it’s been a fulfilling way to support students and stay connected with younger demographics.
“The program really started on a smaller scale,” she says. “In the beginning, we had just six interns. Over the years, it’s almost doubled in size. We’re up to 13 interns for this upcoming summer.”
The nine-week program is a paid, full-time position at the credit union’s Glendale headquarters office. This year, it will run from June 16 through Aug. 15.
Opportunities For Future Leaders
CCU Internship Program Timeline
FALL: Internal planning begins.
WINTER: Job descriptions go live in February.
SPRING: Recruitment begins with offers sent in April.
SUMMER: Program runs from mid-June to August.
Although the work for the students takes place in the summer, managing the program is a year-round effort for California Credit Union. Internal planning happens for most of the second half of the year, and recruitment takes place in the months leading up to summer.
The internship is aimed at students currently pursuing a bachelor’s degree in finance, accounting, economics, or a related field. Participants may include seniors as well as others still in the middle of their college career. The program is designed to provide practical work experience within and across multiple departments, including accounting, electronic services, and human resources, and projects are tailored based on current department needs.
“It’s very hands-on and tailored by department,” Santeramo says. “For example, in HR, we want to expose interns to the full employee lifecycle, from recruiting and onboarding to benefits and even terminations. The goal is for them to work with every member of the department and get a full picture of what we do.”
None of this would be possible without widespread internal buy-in from top to bottom. The program directly aligns with California Credit Union’s values, and senior team members who might not get a chance to lead regularly provide mentorship and share their day-to-day work.
“It’s important to our senior leaders and CEO to give back in this way,” Santeramo says. “It’s personally fulfilling for our team members and a meaningful way to give back to the community through their own expertise.”
Student Ideas And Perspectives
As much as the program benefits participating students, though, it also has had some positive long-term impacts on the credit union, too.
For example, last year’s interns designed training classes that the credit union’s training team is now rolling out. Others interns laid the groundwork for a web series hosted by the organization’s wealth management team to help members understand financial strategies.
“We’ve also seen interns create reporting structures that are still in use,” Santeramo says. “They bring a kind of digital savviness and fresh perspective that’s valuable.”
Summer interns stand with California Credit Union CEO Steve O’Connell (fourth from left).
Summer interns at California Credit Union in 2024.
In addition to input on internal operations, California Credit Union leans on its interns for insight on how to best appeal to younger members.
“We hold a mid-program focus group with them to get feedback on our financial strategy, such as what they like or don’t like about their own banking experience,” Santeramo says.
Once the program concludes, Santeramo says she has continued to stay in touch with multiple program alumni, connecting on LinkedIn and sending occasional emails. Many have gone on to secure full-time roles in related fields, and one of California Credit Union’s full-time employees is a prior participant.
“This is one of the most fun programs we run,” Santeramo says. “Although it’s a lot of work in logistical preparation, it’s very, very rewarding and speaks to the credit union commitment to investing in our youth.”
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