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Energy Credit Union is a member-owned financial cooperative dedicated to providing affordable financial services and promoting financial wellbeing within the communities it serves. Established in 1938, Energy Credit Union has grown to become one of the largest credit unions in the country, with over $10 billion in assets and serving more than 400,000 members.
As a not-for-profit financial institution, Energy Credit Union reinvests its earnings back into the community through lower loan rates, higher savings rates, and various financial education and community development initiatives. Its mission is to help members save money, build credit, and achieve their financial goals.
Energy Credit Union offers a wide range of financial products and services to meet the needs of its members, including checking and savings accounts, loans, mortgages, credit cards, and financial planning services.
Energy Credit Union
Energy Credit Union is a member-owned financial cooperative dedicated to serving its members and promoting financial well-being.
- Affordable financial services
- Financial education and community development
- Not-for-profit, member-owned
With over $10 billion in assets and serving more than 400,000 members, Energy Credit Union is committed to providing its members with the tools and resources they need to achieve their financial goals.
Affordable financial services
Energy Credit Union is committed to providing its members with affordable financial services, including:
- Competitive interest rates on loans: Energy Credit Union offers some of the lowest interest rates on loans in the country, helping members save money on everything from auto loans to mortgages.
- Low fees: Energy Credit Union keeps its fees low, so members can keep more of their hard-earned money.
- Free financial education and counseling: Energy Credit Union offers free financial education and counseling to help members make informed financial decisions.
Energy Credit Union also offers a variety of programs and services to help members save money, including:
- Round-up savings: This program automatically rounds up debit card purchases to the nearest dollar and transfers the difference to a savings account.
- Automatic savings plans: Members can set up automatic transfers from their checking account to their savings account, making it easy to save money without even thinking about it.
- Financial planning services: Energy Credit Union offers financial planning services to help members create a budget, save for retirement, and plan for major life events.
By offering affordable financial services and a variety of programs and services to help members save money, Energy Credit Union is committed to helping members achieve their financial goals.
Financial education and community development
Energy Credit Union is committed to providing financial education and supporting community development initiatives to help its members and the communities it serves thrive.
- Free financial education and counseling: Energy Credit Union offers free financial education and counseling to help members make informed financial decisions. Topics covered include budgeting, saving, investing, and credit management.
- Financial education programs for youth: Energy Credit Union offers financial education programs for youth to help them learn about money management and saving at a young age.
- Community development loans and grants: Energy Credit Union provides loans and grants to community organizations and businesses to support affordable housing, small business development, and other community development initiatives.
- Employee volunteerism: Energy Credit Union encourages its employees to volunteer their time and expertise to support local community organizations.
Through its financial education and community development initiatives, Energy Credit Union is working to create a more financially secure and prosperous future for its members and the communities it serves.
Not-for-profit, member-owned
Energy Credit Union is a not-for-profit financial cooperative owned by its members. This means that any profits the credit union earns are reinvested back into the credit union to benefit its members, rather than being distributed to shareholders. This allows Energy Credit Union to offer lower loan rates, higher savings rates, and better financial services to its members.
As a member-owned credit union, Energy Credit Union is governed by a board of directors who are elected by the membership. This ensures that the credit union is always operating in the best interests of its members.
Being not-for-profit and member-owned gives Energy Credit Union a unique advantage over for-profit banks and credit unions. Because Energy Credit Union is not beholden to shareholders, it can focus on providing its members with the best possible financial services and products, rather than maximizing profits.
Energy Credit Union’s not-for-profit, member-owned status also means that it is committed to serving its members and the communities it serves. The credit union offers a variety of financial education programs and community development initiatives to help its members and the communities it serves thrive.
Overall, Energy Credit Union’s not-for-profit, member-owned status allows it to provide its members with better financial services and products, while also supporting the communities it serves.
FAQ
Here are answers to some frequently asked questions about Energy Credit Union:
Question 1: What is Energy Credit Union?
Energy Credit Union is a not-for-profit, member-owned financial cooperative dedicated to providing affordable financial services and promoting financial well-being within the communities it serves.
Question 2: Who can join Energy Credit Union?
Anyone who lives, works, worships, or attends school in the communities served by Energy Credit Union is eligible to join. Membership is also open to businesses and other organizations.
Question 3: What services does Energy Credit Union offer?
Energy Credit Union offers a wide range of financial products and services, including checking and savings accounts, loans, mortgages, credit cards, and financial planning services.
Question 4: What are the benefits of being a member of Energy Credit Union?
Members of Energy Credit Union enjoy a variety of benefits, including competitive interest rates on loans, low fees, free financial education and counseling, and access to a wide range of financial products and services.
Question 5: How do I become a member of Energy Credit Union?
To become a member of Energy Credit Union, you can visit any of its branches or apply online. You will need to provide proof of identity and residency, and you will need to make a minimum deposit into a savings account.
Question 6: What is Energy Credit Union’s commitment to the community?
Energy Credit Union is committed to supporting the communities it serves through financial education, community development initiatives, and employee volunteerism.
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If you have any other questions about Energy Credit Union, please visit its website or contact a member service representative.
Energy Credit Union also offers a variety of tips and resources to help its members manage their finances and achieve their financial goals.
Tips
Here are a few tips to help you get the most out of your Energy Credit Union membership:
Tip 1: Take advantage of free financial education and counseling.
Energy Credit Union offers free financial education and counseling to help its members make informed financial decisions. Topics covered include budgeting, saving, investing, and credit management. Take advantage of these resources to learn more about managing your finances and achieving your financial goals.
Tip 2: Use round-up savings to save money without even thinking about it.
Energy Credit Union’s round-up savings program automatically rounds up your debit card purchases to the nearest dollar and transfers the difference to a savings account. This is a great way to save money without even having to think about it.
Tip 3: Set up automatic savings transfers.
Set up automatic transfers from your checking account to your savings account to make saving money easy and automatic. This is a great way to build up your savings over time, even if you don’t have a lot of money to save each month.
Tip 4: Take advantage of Energy Credit Union’s low loan rates.
Energy Credit Union offers some of the lowest interest rates on loans in the country. If you are in the market for a loan, be sure to compare Energy Credit Union’s rates to the rates offered by other lenders.
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By following these tips, you can get the most out of your Energy Credit Union membership and achieve your financial goals.
Energy Credit Union is a great choice for anyone looking for a safe and affordable place to save and borrow money. With its wide range of financial products and services, free financial education and counseling, and commitment to the community, Energy Credit Union is a trusted financial partner for its members.
Conclusion
Energy Credit Union is a not-for-profit, member-owned financial cooperative dedicated to providing affordable financial services and promoting financial well-being within the communities it serves.
With over $10 billion in assets and serving more than 400,000 members, Energy Credit Union is one of the largest credit unions in the country. It offers a wide range of financial products and services, including checking and savings accounts, loans, mortgages, credit cards, and financial planning services.
Energy Credit Union is committed to providing its members with affordable financial services, including competitive interest rates on loans, low fees, and free financial education and counseling.
The credit union is also committed to financial education and community development. It offers free financial education programs to its members and the communities it serves, and it provides loans and grants to community organizations and businesses to support affordable housing, small business development, and other community development initiatives.
Overall, Energy Credit Union is a trusted financial partner for its members, providing them with the tools and resources they need to achieve their financial goals.
Closing Message:
If you are looking for a safe and affordable place to save and borrow money, Energy Credit Union is a great choice. With its wide range of financial products and services, free financial education and counseling, and commitment to the community, Energy Credit Union is a trusted financial partner for its members.