Navigating Your Finances with Educators Credit Union: A Comprehensive Guide
Educators Credit Union offers a range of services designed to help members manage their finances effectively. From daily credit score updates to convenient mobile banking options, this guide provides a detailed overview of the tools and resources available to you.
Monitoring Your Credit Health
Staying informed about your credit score is crucial for financial well-being. With the Credit Report Widget powered by SavvyMoney®, you can view daily updates to your credit score directly through Online and Mobile Banking. This tool allows you to monitor your credit health and identify any potential issues early on.
SavvyMoney® and TransUnion
The Credit Report Widget uses TransUnion for its credit report information. This ensures that you receive reliable and up-to-date data to help you make informed financial decisions.
Member Loyalty and Cash Back Rewards
Educators Credit Union values its members and offers opportunities to earn cash back simply by using your account. This Member Loyalty program rewards you for your everyday banking activities, making it easier to save and grow your money.
Convenient Check Deposits with FlashCash
With FlashCash, depositing checks is easier than ever. This mobile feature allows you to deposit checks from your mobile device, saving you time and effort.
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How FlashCash Works
To use FlashCash, simply access the feature through the Educators Credit Union mobile app. Deposit times are subject to approval. While some money appears instantly in your account, the remainder can take up to three business days to deposit. In some cases, deposits may take up to 10 business days to process.
Accessing Your Account and Resetting Your Password
Managing your account online is simple and secure. If you forget your password, you can easily reset it through the Online Banking login screen or the mobile app login screen.
Resetting Your Password
To reset your password, click or tap the "Forgot Password?" button and follow the steps to verify your identity. Once verified, you can reset your password and unlock your account.
Enrolling in eStatements
For convenient and secure access to your account statements, you can enroll in eStatements through Online Banking. This eliminates the need for paper statements and reduces clutter.
Utilizing Zelle® for Quick Money Transfers
Zelle® is a convenient way to send, request, or receive money directly from your mobile device. This service is available through the Educators Credit Union’s mobile app, making it easy to transfer funds to friends and family.
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Getting Started with Zelle®
To get started with Zelle®, log into the Educators Credit Union’s mobile app and select MORE, TRANSFER&PAY, and then Zelle®. From there, you can enroll your U.S. mobile phone number or email address.
Sending Money with Zelle®
To send money using Zelle®, select the individual you’d like to send money to (using their U.S. mobile phone number), add the amount you’d like to send and an optional note, review, then hit Send. Transactions between enrolled consumers typically occur in minutes. Terms and conditions apply. A checking account is required to use Zelle®.
Requesting Money with Zelle®
To request money using Zelle®, choose Request, select the individual from whom you’d like to request money, enter the amount you’d like to request, include an optional note, review and hit Request.
Receiving Money with Zelle®
If a friend wants to send you money with Zelle®, simply share your enrolled U.S. mobile phone number with them. If you have already enrolled with Zelle®, you do not need to take any further action.
Understanding Loan Rates and Financing Options
Educators Credit Union offers financing options for various needs. Loan rates are based on factors such as term, credit score, and credit tiers.
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Factors Affecting Loan Rates
To qualify for the lowest rate, a credit score of 670 or above is typically required. Loan rates are subject to change and are not guaranteed until a formal lock is processed.
Financing Up to 105% of Retail Value
Educators Credit Union provides financing up to 105% of the approximate retail value. Rates and payments are based on a 36-month term.
Mortgage Information
When considering a mortgage, it’s important to understand the terms and conditions involved.
Important Mortgage Considerations
Property insurance is required on all mortgages. Closing costs are approximately $1,600. Payments do not include amounts for taxes and insurance premiums. Interest on a home that is greater than the fair market value of the home is not tax-deductible for federal income tax purposes. The actual payment obligation will be greater.
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