Educators Credit Union was founded in 1938 under a federal charter with the original name of McLennan County Teachers Federal Credit Union in Texas. Originally there were ten members with $60 in assets on deposit. The credit union was housed in school facilities including Waco High and East Waco Elementary School and was operated by part time employees and volunteers. Educators Credit Union is now a community credit union serving McLennan, Bosque, Falls, Hill, Coryell and Lampasas counties in Texas and reports nearly $160 million in assets. The credit union offers savings, checking and lending services, with special emphasis on collegiate student loans.