History of CalCom

CalCom Federal Credit Union started out as LICOMTO Federal Credit Union on February 28, 1968 serving the Little Company of Mary Hospital in Torrance. As with most credit unions, a dedicated employee, Ms. Doris Anthony, conducted the entire credit union operation. Her knowledge and service has always been a great model for all employees as the credit union grew. Other employees has since then contributed their own time to the credit union by volunteering to serve on the Board of Directors, Supervisory Committee, and Credit Committee. Our founding directors were James Lester, James Riedel, Frank Scalsi, Robert McLemore, Graham Hall, Morton S. Greenberge, and Joseph Armon.

Since 1968, the credit union has provided its members with personalized member service and products not normally provided by a credit union of our size. In 2001, Licomto opened its field of membership to include health professionals within the South Bay and adopted the name South Bay Health Services Federal Credit Union to better describe this larger field of membership.

As South Bay Health Services, the credit union continued to grow in both membership and asset size at a rate that outpaced all our credit union peers. Along with this growth, the credit union continues to provide personalized member service as well as additional products and services.

Recognizing the cost of management, the need to retain identity, and improve the economies of scale of other small (Shapiro) credit unions, South Bay Health Services began sharing its management expertise in 2003 with other credit unions by pioneering a management-sharing concept that the credit union industry now refer to as Shared Resource Solution (SRS). Currently, the credit union is an SRS with City of Downey ($12-million in assets), Mattel Toys ($25-million in assets) Federal Credit Unions, and Watts United ($1.5-Million) Credit Union . With shared management and resources aside, these SRS credit unions are operated independently from each other with their own set board of directors.

In addition to operating within an SRS, South Bay Health Services also entered into merger-partnership with Copley Los Angeles FCU (April 2002), El Segundo Unified School District FCU (April 2005), the South Gate City Employees' FCU (December 2005), CareConnections FCU (November 2009), and ITT-GC Aerospace Controls FCU (February 2010) retaining its staff, offices, and credit union name as a division. In response to our rapidly expanding partnerships and diverse field of membership the credit union finally adopted its current name.

Staffed by full-time professionals, CalCom Federal Credit Union continues offers an array of financial products and services. It has been a focused effort to bring the best technology, the most efficient operating methods, and competitive products and services all built around the foundation of a family to serve its ever growing credit union membership.