Edinburg Teachers Credit Union Conservatorship Frequently Asked Questions

Yes, member accounts at Edinburg Teachers Credit Union remain safe and fully insured up to the maximums established in federal law.

Administered by the National Credit Union Administration, the National Credit Union Share Insurance Fund insures member accounts owned by an individual up to $250,000, and insures a member’s interest in all joint accounts combined up to $250,000. The Share Insurance Fund also separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States.

The NCUA’s online Share Insurance Estimator allows credit union members to estimate their share insurance coverage. Once you provide the required data, the Share Insurance Estimator produces a report with a detailed explanation of insurance coverage.

Members with additional questions about their insurance coverage may contact the National Credit Union Administration’s Consumer Assistance Center toll free at 800.755.1030. The center answers calls Monday through Friday between 8 a.m. and 5 p.m. Eastern.

You can visit the Share Insurance Coverage page of NCUA’s MyCreditUnion.gov consumer website at any time for more information about insurance coverage.

The Texas Credit Union Department placed Edinburg Teachers Credit Union into conservatorship on March 26, 2021. The NCUA accepted the Texas Credit Union Department’s appointment as Conservator the same day. In a conservatorship, the NCUA’s priority is to protect the assets of the members of Edinburg Teachers Credit Union while working to maintain safe-and-sound credit union operations.

The NCUA is an independent agency of the federal government that, among other things, operates and manages the Share Insurance Fund, which insures accounts at all federally insured credit unions, including Edinburg Teachers Credit Union.

A conservatorship means the NCUA has assumed control of Edinburg Teachers Credit Union to ensure its financial stability and safe-and-sound operation. In a conservatorship, the NCUA works in conjunction with the state credit union regulator to address issues related to a credit union’s operations and financial condition while maintaining member services.

Yes, member services at Edinburg Teachers Credit Union will continue uninterrupted. You can contact Edinburg Teachers Credit Union by telephone at 956.259.3511 or in person at the credit union’s office located at 900 West University Drive, Edinburg, Texas.

Edinburg Teachers Credit Union’s main office is open Monday through Friday from 8 a.m. to 5 p.m. and Saturday 8 a.m. to 1 p.m. Central.

Through conservatorship, the NCUA will work in conjunction with the Texas Credit Union Department seeking to resolve operating issues at the credit union with the goal of protecting member assets and seeking a resolution to identified problems. Neither the Texas Credit Union Department, nor the NCUA have made any decisions about the long-term future of the credit union; however, continued service to members is a priority.

In working to resolve issues affecting Edinburg Teachers Credit Union, the top priority is to protect the interests of the credit union’s members, and the Texas Credit Union Department and the NCUA have no set timeframe for completing this process.

Edinburg Teachers Credit Union serves 12,572 members, according to its most recent Call Report.

The credit union has assets of $106,218,446, according to its most recent Call Report.

Edinburg Teachers Credit Union serves several education-based and other employee groups as well as their family members. Membership eligibility information is listed on the credit union’s website.