Education Associations Federal Credit Union is a nonprofit, cooperative financial institution dedicated to providing high quality, competitive financial services that responds to members' needs. Education Associations Federal Credit Union was established in June 1954 under a federal charter. The Credit union is federally regulated by the National Credit Union administration (NCUA), a United States Government agency.
What's so special about Credit Unions?
Unlike other financial institutions, Credit Unions are owned, and run by its members. Members make up the Board of Directors, who manage and elect the officers to handle the business and operation of the Credit Union, Credit Committee, which decides on loans that are made and the Supervisory Committee, which ensures the Credit Union is run correctly.
Are you getting the idea that it's the Members who make the Credit Union special? That's absolutely right! Our members are joined together by a common bond and we will serve only our members. There are no outside stockholders - all net earnings after expenses are disbursed to our members in dividends. That means your savings grow faster.