Educators Credit Union (Wisconsin): Difference between revisions
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==History==
The Racine Teachers Credit Union was founded in 1937. On March 16,
The credit union began accepting [[University of Wisconsin-Racine]] employees as members in 1954. It reached 1,000 members in 1958.<ref name=75years/> By 1959, it had become the largest credit union in Racine, with assets of $475,435.<ref name=news-1959>[https://www.newspapers.com/clip/60836933/the-journal-times/ "Business News"], [[Racine Journal Times]], February 1, 1959, page 33.</ref> After operating for decades in the houses of its officers, the credit union established its first permanent office in 1961 at [[1603 Washington Avenue (Racine, Wisconsin)|1603 Washington Avenue]]. It moved again to the [[Washington Square (Racine, Wisconsin)|Washington Square]] complex at the start of 1970.<ref name=75years/>
By 1971, the credit union had assets of more than $5,000,000, and was serving employees of [[Dominican College (Racine, Wisconsin)|Dominican College]], [[Union Grove Joint School District #1]], and private and parochial schools in Racine.<ref>[https://www.newspapers.com/clip/60837947/the-journal-times/ "Who's Who in '72: Government, Finance and Industry"], [[Racine Journal Times]], March 5, 1972, page 4E.</ref> The credit union began expanding its services beyond Racine County school employees in 1972, with the opening of an office on the [[University of Wisconsin-Parkside]] campus in [[Kenosha County, Wisconsin|Kenosha County]].<ref name=groundbroken/> On August 24, 1973, another branch opened in [[Burlington, Wisconsin|Burlington]], serving public school employees in the city of Burlington and the neighboring towns of [[Rochester, Wisconsin|Rochester]] and [[Waterford, Wisconsin|Waterford]].<ref>[https://www.newspapers.com/clip/60837774/the-journal-times/ Advertisement], [[Racine Journal Times]], August 24, 1973, page 2A.</ref> Reflecting the fact that the organization's services were not limited to Racine teachers, its name was changed to Educators Credit Union in February 1974.<ref>[https://www.newspapers.com/clip/60835104/the-journal-times/ "For Racine Teachers: Credit Union's Name Changed"], [[Racine Journal Times]], February 19, 1974, page 7B.</ref> The same year, ECU left its Racine location at [[Washington Square (Racine, Wisconsin)|Washington Square]] for a newly-built office at [[1400 North Newman Road (Mount Pleasant, Wisconsin)|1400 North Newman Road]].<ref name=groundbroken>[https://www.newspapers.com/clip/60837859/the-journal-times/ "Ground Broken for Credit Union"], [[Racine Journal Times]], December 2, 1973, page 11B.</ref><ref>Bauer, Paul. [https://www.newspapers.com/clip/60838110/the-journal-times/ "Behind schedule"], [[Racine Journal Times]], June 23, 1974, page 1C.</ref> Another branch opened at [[414 West Moreland Boulevard (Waukesha, Wisconsin)|414 West Moreland Boulevard]] in [[Waukesha, Wisconsin|Waukesha]] on August 5, 1974.<ref>[https://www.newspapers.com/clip/60960596/waukesha-daily-freeman/ "Credit Union For Educators To Open Office"], [[Waukesha Daily Freeman]], July 30, 1974, page 13.</ref><ref name=groundbroken/>▼
▲By 1971, the credit union had assets of more than $5,000,000, and was serving employees of [[Dominican College (Racine, Wisconsin)|Dominican College]], [[Union Grove Joint School District #1]], and private and parochial schools in Racine.<ref>[https://www.newspapers.com/clip/60837947/the-journal-times/ "Who's Who in '72: Government, Finance and Industry"], [[Racine Journal Times]], March 5, 1972, page 4E.</ref> The credit union began expanding its services beyond Racine County school employees in 1972, with the opening of an office on the [[University of Wisconsin-Parkside]] campus in [[Kenosha County, Wisconsin|Kenosha County]].<ref name=groundbroken/> On August 24, 1973, another branch opened in [[Burlington, Wisconsin|Burlington]], serving public school employees in the city of Burlington and the neighboring towns of [[Rochester, Wisconsin|Rochester]] and [[Waterford, Wisconsin|Waterford]].<ref>[https://www.newspapers.com/clip/60837774/the-journal-times/ Advertisement], [[Racine Journal Times]], August 24, 1973, page 2A.</ref> Reflecting the fact that the organization's services were not limited to Racine teachers, its name was changed to Educators Credit Union in February 1974.<ref>[https://www.newspapers.com/clip/60835104/the-journal-times/ "For Racine Teachers: Credit Union's Name Changed"], [[Racine Journal Times]], February 19, 1974, page 7B.</ref
In 1976, ECU became the first credit union in Racine County to offer checking accounts.<ref>[https://www.newspapers.com/clip/60838281/the-journal-times/ "Local Credit Union will offer checking"], [[Racine Journal Times]], May 18, 1976, page 6C.</ref>▼
In July 1974, ECU left its central location at Washington Square for a newly-built office at [[1400 North Newman Road (Mount Pleasant, Wisconsin)|1400 North Newman Road]].<ref name=groundbroken>[https://www.newspapers.com/clip/60837859/the-journal-times/ "Ground Broken for Credit Union"], [[Racine Journal Times]], December 2, 1973, page 11B.</ref><ref>Bauer, Paul. [https://www.newspapers.com/clip/60838110/the-journal-times/ "Behind schedule"], [[Racine Journal Times]], June 23, 1974, page 1C.</ref> Another branch opened at [[414 West Moreland Boulevard (Waukesha, Wisconsin)|414 West Moreland Boulevard]] in [[Waukesha, Wisconsin|Waukesha]] on August 5, 1974.<ref>[https://www.newspapers.com/clip/60960596/waukesha-daily-freeman/ "Credit Union For Educators To Open Office"], [[Waukesha Daily Freeman]], July 30, 1974, page 13.</ref><ref name=groundbroken/>
▲In 1976, ECU became the first credit union in Racine County to offer checking accounts.<ref>[https://www.newspapers.com/clip/60838281/the-journal-times/ "Local Credit Union will offer checking"], [[Racine Journal Times]], May 18, 1976, page 6C.</ref> It expanded into Milwaukee County in 1979 with the opening of a [[Wauwatosa, Wisconsin|Wauwatosa]] branch at [[11617 West Bluemound Road (Wauwatosa, Wisconsin)|11617 West Bluemound Road]].<ref name=75years/>
By 1990, Educators had grown to over 23,000 members, and had extended its services to employees of Milwaukee County schools, [[Gateway Technical College]], and Racine and Waukesha county governments. In March 1990, the credit union received regulatory approval to include employees of [[Kenosha Unified School District]].<ref>[https://www.newspapers.com/clip/60961010/the-journal-times/ "Business Today: Educators C.U. gets OK"], [[Racine Journal Times]], May 25, 1990, page 10A.</ref> The organization's seventh branch opened in the [[Park Place (Milwaukee, Wisconsin)|Park Place]] office complex in Milwaukee in 1992.<ref>[https://www.newspapers.com/clip/60961166/the-journal-times/ "Business Talk: Now there are seven"], [[Racine Journal Times]], February 10, 1992, page 5C.</ref>
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{| class="wikitable"
! Date !! Assets !! Source
|-
| 1947 || $41,620 || <ref name=75years/>
|-
| 1959 || $475,435 || <ref name=news-1959/>
|-
| 2/15/1962 || $698,240 || <ref name=75years/>
|-
| 12/31/1967 || $2,646,000 || <ref name=75years/>
|-
| 12/31/1971 || $4,842,000 || <ref name=75years/>
|-
| 12/31/1998 || $330,539,776 || [http://web.archive.org/web/19990824210608/http://www.ecu.com/financialreport.html]
|-
| 8/31/2000 || $374,366,039 || [http://web.archive.org/web/20010107180200/http://ecu.com/aboutecu.html]
|-
| 12/31/2006 || $803,284,898 || <ref name=NCUA/>
|-
| 12/31/2007 || $897,353,529 || <ref name=NCUA/>
|-
| 12/31/2008 || $1,009,743,714 || [http://web.archive.org/web/20101222114246/https://www.ecu.com/assets/2010/6/14/annualreport_2009.pdf]
|-
| 12/31/2009 || $1,170,079,495 || [http://web.archive.org/web/20101222114246/https://www.ecu.com/assets/2010/6/14/annualreport_2009.pdf]
|-
| 12/31/2010 || $1,284,620,908 || <ref name=NCUA>[https://mapping.ncua.gov/SingleResult.aspx?ID=66448&IsCorpCU=0 EDUCATORS], Call Reports, 1990-present, ncua.gov.</ref>
|-
| 12/31/2011 || $1,318,274,794 || [http://web.archive.org/web/20130831113534/https://www.ecu.com/system/files/4110/original/AnnualReport.pdf?1366636341]
| |||