Education Credit Union: A Legacy of Service in the Texas Panhandle
Education Credit Union (ECU) has a rich history deeply intertwined with the educational landscape and the communities of the Texas Panhandle. From its humble beginnings during the Great Depression to its current status as a full-service financial institution serving over 40,000 members, ECU has remained committed to its core mission: delivering exceptional service guided by the philosophy of “People Helping People.”
The Genesis of ASECU: A Response to the Great Depression
On January 19, 1935, amidst the economic hardship of the Great Depression, ten visionary Amarillo teachers convened to establish the Amarillo School Employees Credit Union (ASECU). Each founder contributed five dollars, pooling together an initial capitalization of fifty dollars. These ten founding members also served as the initial Board of Directors. R. F. C.C. J.E. T.G. T.H. I.D. Their original purpose was to promote thrift and provide a source of low-cost, personal credit for members. That purpose continues today.
Early Years and Growth: A "Hip-Pocket, Shoebox" Operation
ECU’s early growth was shaped by its first two managers, R.F. Williams (1935-1949) and S.G. Anthony (1949-1958). Both served as part-time employees, serving members before or after school hours, conducting a “hip-pocket, shoebox” operation. ASECU offices were first located in R.F. Williams’ Amarillo High School classroom. Later locations were in Central Junior High School (subsequently renamed Nixson Junior High School) and Wolflin Elementary School.
Transition to Full-Time Management and Expanded Services
Significant growth began in the early 1970s, when it became possible to employ full-time management. E. M. Savage (1958-1982) became ECU’s first full-time manager. The credit union has grown steadily throughout its history. From original assets of fifty dollars, the credit union grew to $1 million by 1968. In the beginning, the credit union offered traditional saving accounts and loans. As the credit union progressed, so did related services. ECU products now include checking accounts, health savings accounts, youth savings accounts, debit and credit cards, personal loans, auto loans, mortgage and home equity loans IRAs, CDs, and money market accounts.
Leadership Transitions and Restructuring for Growth
Patricia M. Tomberlin then became President/Manager in 1982. Following Tomberlin’s retirement, the board appointed Larry D. Cooper (1997-2003) as President/CEO in June of 1997. Cooper brought with him 28 years of credit union experience, including 15 years as Executive Vice President. That same year, Cooper restructured the leadership team to better serve ECU’s growing membership. In June 1997, Cooper restructured the management team to include: Vice President of Management Information Systems; Chief Financial Officer; Vice President of Marketing; Vice President of Lending; Vice President of Member Services; Collection Manager; and Teller Supervisor. In September 1997, the board hired Gregg R. Bynum, as Senior Vice President. In September 2003, Bynum was appointed President/CEO. In October of the same year, Claudia Burkett was appointed Senior Vice President. In July of 2019, the board appointed Eric L. Jenkins (2019-2022), as President/CEO. Most recently, in December 2022, Marcus Smith (2022-Present) was named President/CEO. Smith had been with ECU for 10 years prior to his promotion, serving as CFO and interim CEO. Before joining ECU, Smith was a Senior Controls Specialist where he was involved in financial audits, internal control testing, regulatory training, and compliance. Raised in Amarillo, Smith and his wife have chosen to raise their family in the community.
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Facility Expansion and Branch Development
As membership grew, the credit union expanded its physical presence. In 1975 the credit union purchased a building located at 119 West 15th Street, Amarillo, Texas, and extended hours of operation. At first the credit union occupied only half of the building. By 1986, however, the building was bursting at the seams with expanded membership, employees and services. In 1987, land was acquired at 4400 W. Interstate 40, Amarillo, Texas. Construction of the new building was completed in October 1988, with a portion of the basement reserved for future expansion. ECU officially opened the I-40 branch for its first day of business on October 3, 1988. Facility expansion continued in the 2000s. In 2003, the credit union purchased land located at 6201 Hillside, Amarillo, Texas, and opened another new branch. Just three years later, in 2006, the credit union expanded the lot and constructed the Operations Center at 6203 Hillside, Amarillo, Texas. In 2007 the credit union purchased land at 1801 S. FM 2381 in Bushland, Texas, and constructed a new branch. Then, in the fall of 2012 the credit union purchased land at 5500 Plum Creek Drive, Amarillo, Texas and a new branch was constructed. In December 2013 the credit union purchased land at 3615 SW 45th, Amarillo, Texas. This branch opened for business in January 2015 and housed IS, Call Center, DSS, and Collections. Innovation took center stage in August 2022, when ECU opened the doors to the first-of-its-kind student-run branch within AISD’s AmTech Career Academy at 3601 Plains Blvd., Amarillo, Texas. In March 2023, the original 4th Street Canyon Branch re-opened as the newly re-branded ECU Buff $mart Branch. ECU partnered with West Texas A&M University and the WT ECU Buff $mart Program to accomplish this WT student-led, full-service branch. In May 2023, ECU officially expanded services to our friends and neighbors in Borger and Stinnett, Texas. As a result of a partnership between H&H Federal Credit Union and ECU, we combined efforts, talents, and visions to serve an even greater portion of our beloved Panhandle. Both branches serve as full-service branches and are conveniently located within the communities. The Borger Branch is located at 500 W. Grand St., Borger, Texas and the Stinnett Branch is located at 102 N. Finally, in August 2024, the credit union opened the Badger $mart Branch located at 512 SW 22nd Ave. on the Amarillo College Washington Street Campus - our easternmost branch in Amarillo. Inspired by the success of the Buff $mart Branch in Canyon, this location combines full-service financial support with student-focused hiring. Amarillo College students are hired each semester to work alongside ECU management, offering member service, product knowledge, and even free financial coaching. Second Canyon, TX location at 1900 FM 2590 (Near the corner of VFW RD.
Expanding Membership and Community Reach
Education Credit Union began with a simple mission: to serve employees of Amarillo College and the Amarillo and Canyon Public School Districts. Shortly after opening, children of current members were welcomed into the field of membership. Before the renewal of its fifty-year charter on March 7, 1985, ECU had already extended its membership to include employees of all public, private, and parochial schools, colleges, and universities. In December 1986, the board further expanded eligibility to include blood and legal relatives of members. and Texas Tech University Health Science Center were added. Then, in 1988, the board of directors adopted Option Four of the bylaws, giving ECU the ability to include small employee groups within ten miles of the credit union’s headquarters. A major milestone came in 1997, when the credit union changed its name from Amarillo School Employees Credit Union to The Education Credit Union (ECU) to reflect a broader, more inclusive field of membership. In January 2004, the merger with THD District 4 Credit Union welcomed 404 new members to ECU. In 2010, the board expanded its charter to serve any person living, working, or attending church, or school within 10 miles of the Canyon or Bushland branches. Eligibility was also extended to any student enrolled in school within the top sixteen counties where ECU served. From the original membership of ten members, ECU has grown to proudly serve over 40,000+ members across the Texas Panhandle. Today, any person who lives, works, worships, or attends schools within 10 miles of any of ECU’s 11 locations is eligible to join. Anyone who lives, works, or worships within 10 miles of locations is eligible for membership.
Financial Wellness and Community Engagement
ECU cares deeply about the financial wellness of its membership, too. ECU offers free financial counseling in English and Spanish to help members navigate budgeting, debt management, and long-term planning. With ECU, members can enjoy convenient and secure access to their money through our free mobile app. As a not-for-profit financial institution, ECU reinvests its earnings back into the credit union. This allows ECU to offer members great dividends, competitive rates, outstanding financial products with low or no fees.
ECU is looking for a Marketing Intern to join and grow with our award-winning team. The Marketing Intern is responsible for assisting the marketing team in all basic areas from public relations, communications, campaign strategy and social media content. Under supervision, this intern will have a hand in all areas of the marketing process. At Education Credit Union, serving our community isn’t just a task; it’s our passion! We are so grateful for our team’s dedication to giving back and spreading joy throughout our local community during the holiday season.
Embracing Technology and Innovation
For the better part of its first four decades, the credit union processed data manually, first with ledger cards, and then a posting machine and calculators. Over time ECUs technology has continued to evolve.
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Partnership with Panhandle-Plains Historical Museum
A partnership between Education Credit Union and PPHM led to the renovation of the museum’s old Education Classroom. The new multi-functional space will be available for rent and can be used for school groups, birthday parties, corporate retreats and meetings.“We are very proud to partner with PPHM and help provide a vibrant space to feature WTAMU students’ artwork and an inviting place for area teachers and school children to gather and learn while visiting the museum,” said Eric Jenkins, president and CEO of Education Credit Union.
Core Values and Future Outlook
Education Credit Union has remained resilient through changing times, thanks to the steady leadership of its management, staff and board. Their dedication has shaped ECU into a strong, trusted financial institution committed to its members, building a legacy of trust, service, and financial empowerment. As we move forward, ECU remains devoted to its core mission: delivering exceptional service guided by the philosophy of “People Helping People”. Being an ECU member means more than just banking - it means joining a community that puts people over profits.
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The credit union has weathered the times strongly. The continuous effective guidance by management, staff and board has made Education Credit Union a sturdy and vital financial institution. Education Credit Union is and has always been committed to service for its members.
In 1983, the number of directors was reduced to nine to avoid voting ties.
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Today the credit union is a full-service financial institution serving 30,000+ members in eighteen counties.
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