ECU FAQs
You have questions. We have answers. We have noted the most common member questions we receive.
Membership
What is the difference between a bank and a credit union?
A bank is owned by shareholders and is tasked with maximizing the shareholders’ investments. A credit union is a not-for-profit organization owned by its members. It exists to offer excellent service and affordable financial products to its membership.
How do credit unions operate?
Policies and procedures are set and monitored by a volunteer board of directors. Each credit union member has one vote and an equal voice in the management and direction of the credit union. The board of directors, who are elected by a majority vote from the credit union members, sets policies under which the credit union management carries out its duties.
What are the benefits of Education Credit Union membership?
As an ECU member, you have access to the full array of financial products and services that the credit union offers as well as the ECU member value. Member value means that our members always receive the best local value on ECU products and services, including the best local loan rates, the best checking account, the best mobile app, the best electronic services, and some of the best everyday savings and certificate rates in town. Additionally, as partial owners of the credit union, members have the opportunity to vote for the ECU board of directors. ECU members receive the best in service and better rates on loans and deposits than traditional banks. Lastly, you are also eligible to enjoy special member offers, promotions, scholarships and more!
How do I know if I’m eligible for Education Credit Union membership?
Education Credit Union membership is open to all persons and their immediate family members who meet one of the following criteria:
- Anyone who lives, works, worships, or goes to school within a 10-mile radius of any of our six branch locations
- All employees of all public, private or parochial schools, colleges or universities**
- All students of all public, private or parochial schools, colleges or universities**
- All individuals holding a valid Texas teaching certificate
- Home schoolers**
- Retirees receiving retirement or pension as a result of employment by any organization in the field of membership
- Members of Canyon ISD Council PTA, Amarillo ISD Council PTA, WTAMU Alumni Association, and Bushland ISD Council PTA
- Certified daycare workers in Potter and Randall counties
- Spouses of eligible persons who died while in the field of membership
- Employees of District 4 of the Texas Department of Transportation*
- Any blood or legal relative of anyone who is eligible for membership
- Anyone living, working, attending church, or school within 10 miles of any of our locations
Please help us deliver the news to your friends and family. They can stop by any Education Credit Union branch to join and receive the same great service and benefits you receive!
How do I become a member?
Stop by any ECU branch to open a Share Savings account. The $5 minimum balance in your savings account and the $1 one-time membership fee establishes your membership and gives you access to all ECU membership benefits. It also enables you to vote for our board of directors. Please bring a photo ID with you when you open your account. Learn more about becoming a member.
ACCOUNTS
What is Education Credit Union’s routing number?
If you have a checking account at Education Credit Union, this number is located on the bottom of your check. ECU’s routing number is 311376782. The routing number is also referred to as a routing and transit number.
How do I establish direct deposit?
To establish direct deposit, you must contact your employer for the appropriate forms. Education Credit Union’s routing number is 311376782. For more information, call ECU at 800-687-8144 or 806-358-7777.
How are my deposits insured?
Funds on deposit at ECU are privately insured by NCUA up to $250,000 per membership. You can have as many accounts as you would like to own. Most banks are insured up to only $100,000 per depositor. NCUA insures accounts, not individuals, which allows for an unparalleled level of protection for ECU members’ deposits. Additionally, ECU offers further coverage through Excess Share Insurance Corporation, which provides up to an additional $250,000 of insurance per membership.
Can I access my accounts without going to a branch office?
You bet! You may sign up for ECU Online Banking and real-time mobile banking to access your accounts free of charge. We also offer Mobile Deposit Capture (MDC) for easy check deposit, card controls to switch your card off at anytime, and budgeting tools, to keep you striving towards your financial goals. Learn more.
How do I notify Education Credit Union of a change of address?
There are several ways you can notify ECU of an address change:
- Update contact information through the ECU Online Banking.
- Print change of address form and mail to your preferred branch.
- Call member support at 800-687-8144 or 806-358-7777 and request a change of address form.
- Visit any ECU branch.
Online, Mobile, and Telephone Banking
How do I sign up for ECU’s Online Banking?
To connect to Online Banking:
- Visit www.educationCU.com.
- Click the Online Banking icon.
- Enter your account number (or username, if you have created one) and click Submit.
- Enter your password and click Next. If you have logged in before, you will also need to answer one of your chosen security questions.
- First-time users should follow the instructions on the screen to change your temporary password and set up your security questions and other settings.
- When the Online Banking screen appears, you are in!
How do I access ECU’s real-time mobile banking?
To log in to ECU’s mobile banking, type www.EducationCU.com into your mobile phone web browser and click on the Online Banking icon. Your phone will automatically switch to the mobile version after a few seconds.
How do I sign up for text banking?
You can enroll in text banking by clicking the Go Mobile button on the ECU Online Banking toolbar, then selecting Text Banking Home to access the enrollment screens. After enrollment, text commands to 454545. To learn more about common text banking commands, visit here.
Identity Theft
What should I do if I think I may be a victim of identity theft?
If you are a member of Education Credit Union, you should contact us, and we will close affected accounts or place a notification on accounts that have not been directly affected. It is important that you notify all of your credit card issuers and other creditors. File a police report and keep copies of the report to prove that unauthorized charges do not belong to you.
The Federal Trade Commission has an ID theft affidavit, a form for victims to provide to creditors and credit-reporting agencies. It can be downloaded at http://www.ftc.gov/bcp/edu/microsites/idtheft/ or you can receive the form by mail after calling 1-877-IDTHEFT. Trained counselors are available to speak with you and assess your situation.
To further protect yourself, you should contact one of the three major credit-reporting agencies to place an alert on your credit bureau report at no charge to you. Each fraud unit will share this information with the other two agencies. Here is the contact information for the three credit-reporting agencies:
Equifax
P.O. Box 740241
Atlanta, GA 30374
www.equifax.com
1-800-525-6285
Experian
P.O. Box 9530
Allen, TX 75013
www.experian.com
1-888-397-3742
TransUnion
Fraud Victim Assistance Division
P.O. Box 6790
Fullerton, CA 92634
www.tuc.com
1-800-680-7289.
