An academic staff credit score union (EECU) is a monetary cooperative that’s owned and operated by its members, who’re usually employed within the schooling sector. EECUs present quite a lot of monetary companies to their members, together with checking and financial savings accounts, loans, and bank cards.
EECUs are essential as a result of they supply monetary companies to a inhabitants that will not have entry to conventional banking establishments. For instance, many EECUs supply low-interest loans and contours of credit score to academics and different college staff who might not qualify for most of these loans from banks. EECUs additionally play a job within the native financial system by offering monetary help to varsities and different instructional establishments.
