Auto Loans for the Road Less Traveled

Find the loan for the new or new-to-you vehicle that will take you on your next adventure.

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Educators offers comprehensive services, including:

  • Loans for new or used vehicles, including motorcycles

  • Competitive rates

  • Terms that suit your needs and budget

  • New and used car dealer referrals

  • Traditional leases

  • Warranty service contracts

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Helpful Resources

Auto Loan Calculators

Can you afford the car of your dreams? Find out with our auto loan calculator.

Everything Auto

Let our Vehicle Specialists eliminate the stress of vehicle shopping. They can help you find a new or used vehicle that fits your needs and budget.

Car Buying Guide

Learn all the ins and outs, from finding the perfect vehicle to negotiating a reasonable price.

More Detailed Information

To complete a purchase from a dealership, we will need a purchase agreement (i.e. purchase contract). The purchase agreement must have:

  • Your name
  • Vehicle information
  • Vehicle identification number (VIN)
  • Total purchase price.

Educators Credit Union offers extended warranties to members at up to 50% less than dealer pricing. We also offer a CARFAX® Vehicle History Report to members.

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 your most 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 receive direct deposit to Educators Credit Union, and it matches the income amount you’ve provided on your application, we are able to verify your account using this information.

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 apply online to become a member, you’ll need:

  • Your Social Security Number (SSN) or Individual Tax Identification Number (ITIN).
  • A digital photo of your current state-issued Driver’s License, state-issued ID or passport with your current address.
  • Proof of address if it’s different than the address listed on your ID. Proof of address can be on a statement from another financial, utility bill, government document, etc.
  • A $5 minimum deposit to open your Prime Share Savings, which represents your ownership in the credit union.

If one of these situations apply to you, please visit any Educators Credit Union branch to apply for membership:

  • You are under the age of 18.
  • You are opening a fiduciary account.
  • You want to open a business account.

To apply in person to become a member, you’ll need:

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

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.

Tap into your home equity

We can help you finance your vehicle purchase with a Home Equity Loan or Home Equity Line of Credit.


Questions?

Contact a Vehicle Specialist at 262.884.6675 in Racine or toll-free at 800.236.5898.


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