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 a wide range of monetary providers to their members, together with checking and financial savings accounts, loans, and bank cards.
EECUs are necessary as a result of they supply monetary providers to a inhabitants that won’t have entry to conventional banking establishments. For instance, many EECUs supply low-interest loans and features of credit score to academics and different faculty staff who could not qualify for all these loans from banks. EECUs additionally play a task within the native economic system by offering monetary help to varsities and different academic establishments.
