Is my money safe and secure?
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 (opens new window) 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 (opens new window) page of NCUA’s MyCreditUnion.gov (opens new window) consumer website at any time for more information about insurance coverage.Close and return to top
What is the current status of Edinburg Teachers Credit Union?
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.Close and return to top
What is the National Credit Union Administration?
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.Close and return to top
What is a conservatorship?
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.Close and return to top
Can I still conduct business at Edinburg Teachers Credit Union?
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.Close and return to top
What are NCUA’s plans for operations at Edinburg Teachers Credit Union?
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.Close and return to top
How long will this conservatorship last?
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.Close and return to top
How many members are affected by the conservatorship?
Edinburg Teachers Credit Union serves 12,572 members, according to its most recent Call Report.Close and return to top
How big is Edinburg Teachers Credit Union?
The credit union has assets of $106,218,446, according to its most recent Call Report.Close and return to top
What is the field of membership of Edinburg Teachers Credit Union?
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.Close and return to top