Personal Loans

If you are using your new Educators personal loan for consolidation purposes, we will need the following:

Information required if paying off a credit card:

Your most recent statement with the following information:

• Creditor name
• Account number
• Balance/payoff amount
• Address of where to mail the payoff check

Information required if paying off an INSTALLMENT LOAN:

A 10-day payoff letter with the following information:

• Name of the financial
• Account number
• 10-day payoff amount
• Per diem (One day’s worth of interest)
• Address of where to mail the payoff check

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 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 join through Educators Video Banking  you will need:

• Your Social Security Number (SSN) or Individual Tax Identification Number (ITIN).
• A digital photo of your current, unexpired state-issued driver’s license, state-issued ID or passport with your current address.
• Proof of address is needed 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, and/or a $20 minimum deposit to open your checking account.

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. (Fiduciary accounts include trust accounts, custodial accounts, guardianship accounts, representative payee accounts, funeral trust accounts, estate accounts and Coverdell Educational Savings (ESA) Accounts.)
• You want to open a business account.

• When verification/proof of address is requested, please provide one of the following to your loan officer: recent paystub, recent tax documents, recent utility bill, valid driver’s license, or mortgage documents.
• When verification/proof of social security number is requested, please provide one of the following to your loan officer: valid social security card, recent tax documents, recent W2, or recent paystub.