7.1. ELCA Federal Credit Union

ELCA Federal Credit Union

Faithful financial services for ELCA members and ministries

The ELCA Federal Credit Union (ELCA FCU) provides a full range of financial products and services to members, congregations and ministries of the ELCA.As the first of the ELCA’s financial ministries to offer loans to individuals, the Credit Union offers savings and checking accounts, CDs, loans and lines of credit, credit cards, home mortgage loans for purchases or refinances, as well as home equity loans and lines of credit.

The ELCA FCU serves ministries through federally insured deposit accounts, a flexible corporate credit card program, auto loans and unsecured ministry loans up to $100,000 to support smaller projects such as building repairs and purchases. In addition, the Workplace Banking program allows ministry organizations and congregations to offer ELCA FCU Credit Union products and services, along with other exclusive perks, to their employees.

A new cohort joined the ELCA’s Resourceful Servants program, designed to improve financial wellness and assist rostered leaders in building emergency savings funds. Through this matching program, ELCA rostered leaders make ongoing deposits to their Credit Union emergency savings accounts. The Mission Investment Fund of the ELCA matches those deposits up to an established amount. Together, more than 700 rostered ministers have been served, collectively depositing more than $1 million in emergency savings.

A strong online presence means members have access to funds with an ELCA Federal Credit Union Mastercard Debit Card at more than 30,000 surcharge-free ATMs. The ELCA FCU also offers account-to-account (A2A) transfers, person-to-person (P2P) payments (similar to Venmo and Zelle), remote deposit, bill pay and more.

Why choose the ELCA Federal Credit Union?

• The ELCA Federal Credit Union supports the ELCA’s mission of good stewardship. We provide full services to all ELCA members, congregations and related ministries
• As a not-for-profit financial cooperative chartered to serve our church, we offer socially responsible banking solutions often priced more competitively than traditional banks. We have demonstrated success in providing savings to our members.
• With the church as our sponsor, we operate in ways that are consistent with the church’s values.
  

Membership is open to every ELCA member, synod, congregation and ministry—and their employees.

For more information about the products and services of the ELCA Federal Credit Union, please visit our website, https://elcafcu.org/, or call us toll free at 1-800-715-1111.