U of I Employees Credit Union
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Credit Union Difference

Our members own a part of their financial institution. As a not-for-profit, we’re also able to offer higher savings rates, lower loan rates and fewer service fees. Plus, with UIECU Once A Member, Always A Member. You can stay with UIECU no matter where life takes you at www.uiecu.org.

The Credit Union Difference makes credit unions stand out. Credit unions and banks may offer many of the same products and services, but they also differ in many ways. Here’s how.

Credit Unions
Banks and S&Ls
Not for profit, not for charity, but for service.
Earnings returned as better rates, lower and fewer fees, improved services.
To generate profit for shareholders.
Earnings paid to shareholders.
Who Owns It?
Board of Directors
Member-elected, unpaid volunteers
Shareholder-elected, paid directors
Share and money market accounts, share certificates, and other plans available.
Regular savings and money market accounts, certificates of deposit, and other plans available.
Wide variety of loan types including personal, auto, home improvement, mortgage and credit cards.
Loan consideration takes into account member’s character and capacity to repay.
Rates generally lower than at banks and S&Ls.
Variety of loan types also available. Banks traditionally oriented toward commercial loans, S&Ls toward mortgages.
Loan consideration based on customer credit record and capacity to repay. Rates generally higher than at credit unions.
Share Draft/Checking
Most credit unions offer at least one share draft account, often with several options.
Checking account types are similar, but more banks charge fees with their accounts than credit unions.
Credit unions generally have lower fees than banks.
Fees account for nearly one-third of total profits
Deposits in nearly all credit unions are insured up to $250,000 by federal or private insurer.
Nearly all accounts insured up to $250,000 by a government agency.

Who is UIECU?

Like all credit unions, UIECU is a member owned financial cooperative. In summary, the University of Illinois Employees Credit Union is owned entirely by our members and operated exclusively for their benefit. Each member has a voice in selecting the Board of Directors. As a shareholder, each member receives earnings in the form of low interest rates on loans, high dividends on savings, and a large variety of low cost financial services. In this sense, we are a very unique financial institution.

We are a corporation; chartered and supervised by the State of Illinois Department of Financial and Professional Regulation (DFPR), and insured and supervised by the federal government through the National Credit Union Administration (NCUA). The NCUA insures member share accounts up to $250,000 per member and an additional $250,000 per member for Individual Retirement Account monies. The NCUA is the most secure and strongest of the federal savings insuring agencies.

What business are we in?

At UIECU, we encourage our members to save so they can build economic security for themselves and their families. In addition, we provide consumer and home mortgage loans. Beyond these basic groups of services, our members enjoy many other money saving and convenience oriented advantages and benefits. Our purpose is to promote thrift among our members and to make loans to members, from their collected savings. We provide a full array of other financial services at reduced cost to meet our members needs. UIECU is not in business for profit. Service to our membership is our primary mission.

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Contact Us News & Events First Street Branch, Champaign Privacy Policy Credit Card
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Phone Terms and Conditions Illini Union Branch, Urbana    
Local 217-278-7700      
Toll Free 877-678-4328        
PO Box 500
Champaign, IL 61824-0500

UIECU Routing Number
Once a member, always a memberShared BranchingEqual Housing LenderNCUA

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