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Hear what members have to say.
“I started banking with EFFCU in 1995 and have never had any issues that were not taken care of immediately. The people at EFFCU have always been kind and willing to help when needed. I cannot complain about the services. We had to move to Wisconsin in 2019, and I am still a member of EFFCU. You have a bank here in Wisconsin linked to you, and I am happy with the services and do not plan on changing banks.”-- Member Survey, June 2022
"Convenience, dependability, family-like environment, easy communication and quick. We have never had a problem with Education First."-- Elijah and Aimee Murphy, April 2019
“The people here are the most helpful and friendly staff I have worked with. They will take care of you.”-- Theresa Ousley, June 2022
“Very pleasant, nice, and caring staff. Always greet each person that comes into the bank. Loved that made me feel like family. My cashier (Kim)was very professional, friendly and knowledgeable of her job. She made me feel as if I already knew her. Would give her a '10'.”-- Joanne Bean, August 2020
“My mom LOVES this credit union. They took a chance and gave her her first auto loan and that helped her establish credit. She previously had no credit before it…They were there for her when the government shut down, natural disasters hit, and during the pandemic. During these unexpected times, the allowed her to skip payments without charging fees or being penalized..they were there to help her as much as possible with compassion. Everyone speaks so highly of other credit unions…but no other credit union has been there like Education First.”-- Kay A., January 2021
Find a Branch or ATM Near You
Find the nearest Education First branch or ATM to your current location. Search for branches and ATMs by city, state, or zip code, and provides you with the location, address, and hours of operation for each location.
When to Consider a Small Business Loan
Many entrepreneurs use personal savings and credit to cover their initial costs because it can be difficult to get a business loan for a startup without a proven track record and credit history. However, relying on credit cards with high interest rates and low credit limits is not a sustainable situation. Applying for a personal loan can help by providing more funds at a lower interest rate than a credit card. But there are significant advantages to having a business loan, so most entrepreneurs should not rely on personal loans indefinitely.
“The responsible use of business loans will help build financial credibility for your company, which will open doors for other opportunities that can help you grow and expand - such as higher lending limits, and trade credit with vendors and suppliers,” writes LendingTree.com contributor Ashley Sweren.
Figuring out how and when to transition the bulk of financing from your personal loan, credit, or savings to a business loan becomes much easier when you have built a strong relationship and work closely with your financial institution. The EFFCU Business Lending team can look at your business plans and finances and tell you what types of loans are available to you. It's possible you can currently get a business loan with a favorable rate and don’t have to delay. If you aren’t likely to qualify right now, Business Lending can help determine what steps you can take to become a better candidate in the future.
It’s important to note that you should not wait until you are in dire need of funding to begin your loan application. Obtaining a loan is not instantaneous, so don’t wait until a large piece of machinery breaks or you run out of inventory before beginning your application. Waiting could mean an interruption in business operations and a potential loss of income. If you aren't sure how much you need, don't worry - we have a business loan calculator available for you.
Furthermore, waiting too long could actually have a negative impact on your application.
“The truth is, it’s easier to secure a loan or a line of credit when you don’t need one rather than waiting until the situation is dire,” states Ami Kassar, CEO and Founder of MultiFunding.com and Guest Writer for Entrepreneur magazine. “If your business is doing well – you have accounts receivable, industry growth is strong, and you have good credit – now is the time to consider a loan or a line of credit.”
Small, community-based financial institutions like Education First are historically known to be more business-friendly than big, national bank chains, so they are a great place to go to discuss this issue further. If you would like to learn more about possibilities for your small business; reach out to Education First FCU's Business Lending Department to begin building a positive relationship that could lead to a more profitable future. If you're ready to get started, you can apply for a business loan today.
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