Educational Systems FCU: Comprehensive Financial Services for the Education Community
Educational Systems Federal Credit Union (FCU) provides a wide array of financial services tailored to meet the needs of those in the education sector and their families. With a focus on providing value and convenience, Educational Systems FCU offers everything from basic banking transactions to loans and financial planning resources. This article delves into the specifics of these services, eligibility for membership, and the benefits of choosing Educational Systems FCU.
Membership Eligibility
Educational Systems FCU extends its services to a specific community, fostering a close-knit financial environment. Those eligible to join include:
- Employees, students, and immediate family members of Anne Arundel, Calvert, Caroline, Charles, Montgomery, Prince George’s, St. Mary’s, and Talbot County Public Schools.
- Employees, students, and immediate family members of the College of Southern Maryland, Montgomery College, Montgomery College Alumni Association, Prince George’s Community College (PGCC), and PGCC Alumni.
- Individuals who live or work in St. Mary’s County, Maryland.
- Employees of private or parochial schools or organizations supporting education.
This inclusive eligibility criterion ensures that a wide range of individuals connected to the education system can benefit from the Credit Union's services.
Branch Services
Educational Systems FCU offers numerous in-branch services to cater to members' diverse financial needs.
Cashier's Checks
Members can request cashier's checks at any branch location. To process the request, the name of the payee must be provided.
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Cash Advances
Both members and non-members can obtain cash advances on Visa® and Discover credit cards at Educational Systems FCU.
Coin Machines
For convenient coin processing, coin machines are available at the Annapolis, Aspen Hill, Cherry Hill, Clarksburg, Forestville, Germantown, Prince Frederick, and Rockville branches. This service is free for members.
Instant Debit Card Issuance
Members can request and receive a new debit card instantly at any branch. A service fee applies, as detailed in the fee schedule. For replacing ATM or credit cards, requests can be made in person or by calling 301.779.8500.
Notary Services
Educational Systems FCU offers notary services to members for signature verification. However, notary services are not available for Last Will and Testaments. It's recommended to schedule an appointment by calling 301.779.8500 before visiting a branch for notary services.
Savings Bond Redemption
Members can redeem Savings Bonds by visiting a branch.
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Visa Gift Cards
Visa gift cards are available for purchase at all branch locations with a fee of $3.95 per card. These cards are not reloadable.
Domestic Wire Transfers
Members can request domestic wire transfers by visiting a branch or by calling the Contact Center at 301.779.8500. Phone requests require a previously completed Funds Transfer Agreement from a branch.
Loan Services
Educational Systems FCU provides various loan options with competitive rates and flexible terms.
Auto Loans
The Credit Union offers fixed interest rates and flexible terms on new and used auto loans. The Auto Buying Program, powered by TrueCar®, allows members to shop, compare, and receive upfront pricing on vehicles, simplifying the car buying process. Members can also refinance existing auto loans to potentially lower their interest rates and monthly payments. Vehicles purchased within the last six months and of the current year model are eligible for new vehicle financing rates.
Credit Cards, Home, and Personal Loans
Educational Systems FCU offers competitive rates on credit cards, home loans, and personal loans, tailored to meet different financial needs.
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Home Equity Loans and Lines of Credit
Educational Systems FCU also offers home equity loans and home equity lines of credit (HELOC). *Closing costs on second mortgages with a minimum loan amount of $10,000 and home equity lines of credit (HELOC) with an advance on the line of credit of $10,000 at the time of closing will be paid by the Credit Union. The closing costs will be recouped by the Credit Union if the loan is paid off and closed within three years. Closing costs vary and will depend on the location of the property and the amount of the loan. Closing costs typically range between $500 and $2,000. This offer is subject to change without notice. Other restrictions may apply.
Additional Benefits
Deposit Insurance
Educational Systems FCU provides peace of mind through deposit insurance. Savings are insured by the National Credit Union Share Insurance Fund (NCUSIF), backed by the U.S. government. The NCUSIF insures individual accounts up to $250,000, joint accounts up to $250,000 per member, and IRAs separately up to $250,000.
Insurance Discounts
Members can save even more with discounts on insurance through Educational Systems FCU.
Skip-A-Pay
Educational Systems FCU provides a "Skip-A-Pay" program. 2 Interest will continue to accrue during July and August when payments are skipped.
Important Considerations
3 Applications are subject to credit qualifications and approval. Actual rate is based on your credit history. Must meet membership eligibility requirements. For a 84-month term, a minimum loan amount of $30,000 is required.
Required Documents
The documents listed below are acceptable forms of photo identification and address verification as they clearly show your date of birth, address and/or tax ID number (TIN).
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