Eighty years ago today on March 7th, 1937, a group of teachers in Racine pooled their resources together and a five-dollar deposit was made to form the Racine Teachers Credit Union.
Before we had any branches, our first offices were in the homes of our first two presidents Erwin Wall and Russell Jiles. We opened our first “non-home” office on Washington Avenue in 1961. While we started full-time office hours in 1968, it wasn’t until 1972 that we had our first “branch” office which was at UW-Parkside.
In 1974, we changed our name to Educators Credit Union and opened a branch in Waukesha while also building our Newman Road location. We offered our first checking accounts in in 1976, started direct deposit in 1979 and began issuing credit cards in 1980. In 1995, we launched our first website and started offering debit cards.
In 2006, we introduced our current Mark of Excellence with the pedals representing our core values (Honesty, Fairness, Integrity, Respect, and Excellence). In 2008, we began Mobile Banking. Three years later, in 2011, we hit 100,000 members. Now, with over 150,000 members and over $1.7 billion in assets, we’re as big as we’ve ever been.
A lot has changed over the past eighty years, but our dedication to member service and the $5 cost to open a Prime Share Savings remains the same. Whether you’ve been with the credit union for decades, years, months, weeks or days, we appreciate your loyalty to Educators Credit Union.