An educational employees credit union (EECU) is a financial cooperative that is owned and operated by its members, who are typically employed in the education sector. EECUs provide a variety of financial services to their members, including checking and savings accounts, loans, and credit cards.
EECUs are important because they provide financial services to a population that may not have access to traditional banking institutions. For example, many EECUs offer low-interest loans and lines of credit to teachers and other school employees who may not qualify for these types of loans from banks. EECUs also play a role in the local economy by providing financial support to schools and other educational institutions.
