If you are purchasing a vehicle from a private seller, we will need a copy of the title:

• If the title lists a lien, we will need a 10-day payoff letter from the seller’s financial.
• If the title lists a lien but the seller says it’s been released, we will also need a copy of the lien release.

Information required on a 10-day payoff

• Your name
• Account number
• Vehicle identification number (VIN) and description of the vehicle (e.g., year, make, model, trim, etc.)
• 10-day payoff amount
• Per diem (One day’s worth of interest)
• Address of where to mail the payoff check

If you are refinancing a vehicle from another financial, you must provide a 10-day payoff letter from the current financial to Educators Credit Union.

Information required on a 10-day payoff

• Your name
• Account number
• Vehicle identification number (VIN) and description of the vehicle (e.g., year, make, model, trim, etc.)
• 10-day payoff amount
• Per diem (One day’s worth of interest)
• Address of where to mail the payoff check

If you have a vehicle loan through Educators, you must maintain comprehensive and collision coverage on your vehicle for the term of the loan. You must also provide Educators with proof of insurance. Give us your current insurance information quickly and easily at IMCOVERED.com

What is acceptable proof of insurance?
Acceptable proof of insurance shows the following on the Insurance Declaration:

• Comprehensive AND collision coverage
• Liability insurance is required for older vehicle loans.
• Deductibles for comprehensive and collision (not exceeding $1,000 as set by Educators Credit Union)
• Educators Credit Union listed as loss payee/lien holder as follows:

Educators Credit Union
P.O. Box 081040
Racine, WI 53408

• Correct collateral description including the year, make, model and complete VIN
• Borrower/Insured name
• Policy number
• Coverage effective/renewal date

To verify your income, please provide us with one month worth of recent pay stubs from your current employer. This can be:

• Two pay stubs if you are paid bi-weekly.
• Four official pay stubs if you are paid weekly.
• One pay stub if you are paid monthly.

If you are self-employed, please provide us with your two most recent annual tax documents.

If you have rental income, please provide us with your two most recent annual tax documents.

Additional documents may be required.

To open your new account, please visit any Educators Credit Union branch with the following materials:

• Your Social Security Number (SSN) or Individual Tax Identification Number (ITIN)
• A current U.S. government-issued photo ID (e.g., driver’s license, U.S. passport, state or military ID) with current address
• Valid proof of address if it is different than your ID (e.g., statement from another financial, utility bill, etc.)
• A $5 minimum deposit that represents your ownership share of the credit union (Prime Share Savings)
• If you are under the age of 18, you will need a State-issued ID, passport or a current school ID with address verification from a parent or guardian

You can also open an account online.

If you are not an Educators member or if the primary member cannot sign on a loan, you may be required to establish a new account. Educators Credit Union membership is open to anyone who works or lives in our 11-county service area.

To verify your income, please provide us with one month worth of recent pay stubs from your current employer. This can be:

• Two pay stubs if you are paid bi-weekly.
• Four official pay stubs if you are paid weekly.
• One pay stub if you are paid monthly.

If you are self-employed, please provide us with your two most recent annual tax documents.

If you have rental income, please provide us with your two most recent annual tax documents.

Additional documents may be required.

To open your new account, please visit any Educators Credit Union branch with the following materials:

• Your Social Security Number (SSN) or Individual Tax Identification Number (ITIN)
• A current U.S. government-issued photo ID (e.g., driver’s license, U.S. passport, state or military ID) with current address
• Valid proof of address if it is different than your ID (e.g., statement from another financial, utility bill, etc.)
• A $5 minimum deposit that represents your ownership share of the credit union (Prime Share Savings)
• If you are under the age of 18, you will need a State-issued ID, passport or a current school ID with address verification from a parent or guardian

You can also open an account online.

If you are not an Educators member or if the primary member cannot sign on a loan, you may be required to establish a new account. Educators Credit Union membership is open to anyone who works or lives in our 11-county service area.

To verify your income, please provide us with one month worth of recent pay stubs from your current employer. This can be:

• Two pay stubs if you are paid bi-weekly.
• Four official pay stubs if you are paid weekly.
• One pay stub if you are paid monthly.

If you are self-employed, please provide us with your two most recent annual tax documents.

If you have rental income, please provide us with your two most recent annual tax documents.

Additional documents may be required.

To open your new account, please visit any Educators Credit Union branch with the following materials:

• Your Social Security Number (SSN) or Individual Tax Identification Number (ITIN)
• A current U.S. government-issued photo ID (e.g., driver’s license, U.S. passport, state or military ID) with current address
• Valid proof of address if it is different than your ID (e.g., statement from another financial, utility bill, etc.)
• A $5 minimum deposit that represents your ownership share of the credit union (Prime Share Savings)
• If you are under the age of 18, you will need a State-issued ID, passport or a current school ID with address verification from a parent or guardian

You can also open an account online.

If you are not an Educators member or if the primary member cannot sign on a loan, you may be required to establish a new account. Educators Credit Union membership is open to anyone who works or lives in our 11-county service area.