Business Details
50+ Years
experience
Your Trusted Financial Partner in Waco, TX
Founded in 1938 by ten visionary educators who pooled $60 to create a community-focused financial institution, Educators Credit Union has grown into one of Central Texas' largest credit unions with over $563 million in assets and 28,000 members. Originally serving only educators in McLennan County, we expanded our membership eligibility in 2005 to include all residents, workers, and students across nine Central Texas counties. Our deep understanding of local financial needs is demonstrated through our seven convenient branch locations and comprehensive range of services, including competitive loan programs, savings solutions, and digital banking tools.With decades of combined experience among our leadership team, including CEO William Palasota and lending expert Monica Krenek, we maintain strict compliance with Texas Credit Union Department regulations while prioritizing member satisfaction. Our commitment to transparency is evident in our publicly available financial documents and clear communication channels for member concerns. Through continuous innovation in financial services and community reinvestment, we uphold our founding mission to meet the evolving needs of our members while maintaining the personal touch that distinguishes credit unions from traditional banks.
Services
Auto Loans
Mortgage Loans
Personal Loans
Checking Accounts
Savings Accounts
Credit Cards
Online Banking
Mobile Deposit
Bill Pay
Member Discounts
Details
- Year established: 1938
Highlights and features
- We've served Central Texas communities for over 80 years with financial expertise
- Our membership includes anyone living, working, or studying in 9-county service area
- Competitive APRs on auto, mortgage, and personal loans backed by local knowledge
- Seven convenient branch locations with extended weekday hours and Saturday service
- Transparent operations with publicly available financial documents and audit reports
Services
Auto Loans
We offer competitive auto loan programs with rates starting at 4.99% APR. Our lending experts help members finance new and used vehicles through personalized payment plans. With flexible terms and local decision-making, our auto loans provide affordable transportation solutions for qualified borrowers.
Mortgage Loans
Our mortgage loan programs help members achieve homeownership with competitive rates and personalized service. We offer various loan options including fixed-rate and adjustable-rate mortgages. Local underwriting and community-focused lending criteria make us a preferred choice for Central Texas homebuyers.
Online Banking
Our secure online banking platform provides 24/7 access to account management tools. Members can check balances, transfer funds, pay bills, and monitor transactions from any device. Enhanced security features protect financial information while maintaining user-friendly navigation for all digital banking needs.
Savings Accounts
We offer multiple savings account options including regular savings, money market accounts, and certificates of deposit. Competitive interest rates help members grow their savings while maintaining liquidity. Special youth accounts promote financial education for younger members.
Credit Cards
Our credit card programs feature rates starting at 9.75% APR with rewards and benefits for responsible users. We offer both secured and unsecured options with fraud protection and credit-building opportunities. Cardholders enjoy convenient payment solutions and purchase protection features.
People
William Palasota
CEO
William Palasota leads Educators Credit Union with decades of financial industry experience. He oversees strategic operations and maintains our community-focused mission while ensuring regulatory compliance and financial stability.
Monica Krenek
VP of Lending
Monica Krenek manages all lending operations with specialized expertise in consumer and mortgage finance. She develops loan programs that meet member needs while maintaining responsible lending practices across our service area.
Sharon Schroeder
VP of Accounting
Sharon Schroeder directs financial operations and reporting for Educators Credit Union. Her leadership ensures accurate financial management and compliance with regulatory requirements while maintaining fiscal responsibility.
Questions
What are your current loan interest rates?
Our current rates include auto loans from 4.99% APR, credit cards from 9.75% APR, and personal loans from 11.69% APR. Visit our website for complete rate details.
Where are your branch locations?
We have seven locations in Waco, Copperas Cove, Gatesville, Hewitt, Lake Shore, Robinson, and University High School. All branches serve McLennan, Bosque, and surrounding counties.
How can I access my account online?
Our online banking portal provides 24/7 access to account management tools. Download our mobile app or visit our website to enroll in digital banking services.
What are your membership requirements?
Anyone living, working, worshipping, or studying in our nine-county service area can join. Membership is open to all professions since our 2005 expansion beyond educator-focused origins.
How do I report lost or stolen cards?
Contact our Member Services Department immediately at 254-776-7900 during business hours or use our mobile app's card lock feature for after-hours assistance.
What financial documents are publicly available?
Annual audits, financial condition statements, IRS Form 990, and bylaws are available upon request at our main office. We maintain full transparency with members.
Videos
