SchoolsFirst FCU Promotes Michael Faulwell to Chief Financial Officer

Supporting their commitment to providing financial security to California school employees and their families

TUSTIN, Calif.–(BUSINESS WIRE)–SchoolsFirst Federal Credit Union, the largest credit union in California, announces the promotion of Michael Faulwell to the position of chief financial officer. Mr. Faulwell assumed the role on August 2, 2022 and brings nearly 30 years of credit union, financial, accounting, investment and merger experience.

As chief financial officer, Faulwell plays a significant role in guiding organizational strategy, identifying opportunities to enhance performance and increase value to Members, and is responsible for the Credit Union’s financial policy and planning. He oversees five divisions including accounting, treasury/credit union investments, financial planning and budget, loan participation, and facilities services.

“I am pleased to welcome Michael to the SchoolsFirst FCU senior executive team,” said Bill Cheney, chief executive officer. “Michael’s experience and exceptional judgment benefit our 1.2 million Members and team. His financial expertise, commitment to the Credit Union, and leadership vision make him a valuable contributor in guiding our organization forward.”

Faulwell has been with the Credit Union since 1993, beginning his tenure as division assistant for the finance area, then as vice president and senior vice president of finance. In addition to his duties at SchoolsFirst FCU, Faulwell has served on the Finance Committee for Comunidad Latina Federal Credit Union (CLFCU) since 2006.

“I am honored to transition into this new leadership role,” said Faulwell. “My focus will remain on delivering maximum value to our Members by stewarding a strong financial position for the member-owned cooperative. I am dedicated to our mission of serving school employees and their families. I look forward to leading ongoing investments in financial technology, innovative solutions for Member banking needs and expanded access to money management tools. It is my personal commitment to help our Members and teammembers thrive.”

Faulwell earned a Bachelor of Arts in Economics from Miami of Ohio University. He lives in Tustin with his wife Tami and enjoys traveling with family and volunteering in his community.

For more information about SchoolsFirst Federal Credit Union, visit

For more information about Comunidad Latina Federal Credit Union, visit

About SchoolsFirst Federal Credit Union

SchoolsFirst FCU is the fifth largest credit union in the country. Serving school employees and their families, the organization is dedicated to providing World-Class Personal Service and improving the financial lives of its Members. Today they serve more than 1.2 million Members with a full range of financial products and services — from savings and loans to investment, retirement and insurance products. SchoolsFirst FCU was founded in 1934, when 126 school employees pooled $1,200 and established a Member-owned cooperative to help improve each other’s lives. In 2022, the Credit Union reported nearly $29 billion in assets and remains the largest credit union in California. For more information about SchoolsFirst Federal Credit Union, visit


Ann Bouchard
(916) 521-7440 (cell)