Educators Credit Union is headquartered in Mount Pleasant and is the 8th largest credit union in the state of Wisconsin. It is also the 137th largest credit union in the nation. It was established in 1937 and as of June of 2023, it had grown to 529 employees and 227,638 members at 26 locations. Educators Credit Union's money market rates are 9X the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in Educators Credit Union is open to those who live or work in the Wisconsin counties of Dane, Green, Jefferson, Kenosha, Milwaukee, Ozaukee, Rock, Racine, Washington, Walworth or Waukesha.
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Great Credit Union
Educators Credit Union, ECU for short, is a credit union based in southeast Wisconsin. I have banked with them for about 14 years. They have always been very helpful when I would need loans, be it Auto, personal or school. I also have a checking and savings account with them and I have never had any problems with them. They give out dividends when they have a good year, and it is based on how many accounts you have with them. They are always friendly and have great customer service. The only down fall is the lack of branches at least in my area, but there is one about 10 miles from my house if I do actually need a brick and mortar store. I mainly use their online tools and they are very good. They offer account balances, bill pay, loan quotes all from their website. I would recommend them to anyone.
Overall a mostly positive experience
So I came to Educators for their lending abilities. I heard that they rates were the lowest in the area for what I was hoping to lend with. I did not end up using them, however I was sold on their line of products and services. Their savings account and checking account rates are top notch in my opinion. This local credit union is great in a sense where you get the larger banking feel(atm access, multiple locations), without the big bank treatment. The one thing I was a little displeased about came with a recent transaction showing on my debit card. I was unsure of what this transaction was, so I wanted to call in to the service center on a Sunday to find out. Low and behold, they were not open. I don't know if I caught them at a bad time, a bad day, or whatever, but if I am having issues with my banking and my money, I want to be able to solve it right away. That being said, aside from that one experience, I love knowing they reimburse my ATM fees and their interest rates are higher than most of the bigger banks.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 66448 |
| Year Chartered | 1937 |
| Employees | 529 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.1% |
| Return on Equity - YTD | 12.36% |
| Annual Interest Income | $71.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $3.18B$3.19B |
| Loans | Q2 2023vs Q2 2022 | $2.20B$1.97B |
| Deposits | Q2 2023vs Q2 2022 | $2.84B$2.85B |
| Equity Capital | Q2 2023vs Q2 2022 | $283.4MM$284.5MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$14.3MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $11.3MM$7.5MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
