Question 1

What is Employee Resources Credit Union (ERCU)?

Accepted Answer

Employee Resources Credit Union (ERCU) is a community-chartered credit union based in Lawrenceburg, Tennessee. With over 24,000 members and approximately $180 million in assets, ERCU serves individuals who live, work, worship, or attend school in Lawrence, Giles, Wayne, and Henderson counties in Tennessee.

As a certified Community Development Financial Institution (CDFI), ERCU is committed to serving economically disadvantaged individuals and underserved communities. The credit union operates six branch locations across southern Tennessee, providing a hometown banking experience combined with modern financial conveniences.

Question 2

When was Employee Resources Credit Union (ERCU) founded?

Accepted Answer

Employee Resources Credit Union was originally chartered in March 1964 as Murray Ohio Savings Association Credit Union by seven charter members. These founding members envisioned creating a convenient place for members to save and borrow money, with each member paying an entrance fee of 25 cents and unsecured loan limits capped at $200.

The credit union underwent several name changes as it expanded. In September 1995, it became Murray Credit Union. After receiving approval in April 1998 to add other employee groups to its field of membership, the institution changed its name again in October 1998 to Employee Resources Credit Union, the name it maintains today.

Question 3

Where is Employee Resources Credit Union (ERCU) headquartered?

Accepted Answer

Employee Resources Credit Union is headquartered in Lawrenceburg, Tennessee. The main office is located at 2135 North Locust Avenue, a facility that opened in January 2015 to accommodate the credit union's growing membership and staff needs. The credit union's mailing address is P.O. Box 987, Lawrenceburg, TN 38464.

Question 4

Where does Employee Resources Credit Union (ERCU) operate?

Accepted Answer

ERCU operates throughout southern Tennessee with six branch locations serving four counties. The credit union received a community charter in 2003 that initially opened membership to anyone in Lawrence County. This charter expanded in early 2005 to include Lawrence, Giles, and Wayne counties.

Branch locations include the main office in Lawrenceburg, a second Lawrenceburg location on Remke Avenue (offering drive-thru and video banking), Pulaski (opened in 2005 to serve Giles County), Waynesboro (opened in 2011 for Wayne County members), Lexington (added in 2012 when LMPCO Credit Union merged with ERCU, expanding service to Henderson County), and Adamsville.

ERCU also provides extensive ATM access through its membership in the Allpoint and Money-Connect networks, with additional ATMs located at partner manufacturing facilities including Modine Manufacturing and Adient Manufacturing.

Question 5

What services does Employee Resources Credit Union (ERCU) offer?

Accepted Answer

ERCU provides a comprehensive range of financial services including share accounts (savings), checking accounts, certificates of deposit, and various loan products for personal and business needs. The credit union offers mortgage lending, auto loans, and personal loans designed to meet diverse member financial needs.

Digital banking services include mobile banking through a smartphone app available on both iOS and Android platforms, online home banking for 24/7 account access, and ACH processing capabilities. Members can use ATM cards and check cards for convenient transactions.

The credit union features instant issue capability for EMV chip cards, allowing members to receive fraud-protected cards immediately at branch locations. ERCU also provides investment opportunities and wealth management services to help members build long-term financial security.

Question 6

What makes Employee Resources Credit Union (ERCU) unique?

Accepted Answer

ERCU distinguishes itself as a certified Community Development Financial Institution (CDFI), demonstrating its commitment to fostering financial inclusion and stability for economically disadvantaged individuals and underserved communities. This designation reflects the credit union's mission to serve as a total financial partner through outstanding services, products, and support.

The credit union has expanded strategically through community charter growth and a successful merger with LMPCO Credit Union in 2012, demonstrating its ability to grow while maintaining member-focused values. With over 60 years of service, ERCU combines hometown banking traditions with modern technology.

The credit union's low-income designation and CDFI status underscore its dedication to serving members who might otherwise face barriers to traditional banking services. ERCU maintains strong financial performance with healthy growth in assets, loans, deposits, and membership, reflecting member confidence and effective management.

Question 7

What type of financial institution is Employee Resources Credit Union (ERCU)?

Accepted Answer

Employee Resources Credit Union is a state-chartered credit union regulated by the National Credit Union Administration (NCUA) and operates under charter number 67789. As a credit union, ERCU functions as a not-for-profit financial cooperative owned by its members.

Membership is open to anyone who lives, works, worships, or attends school in Lawrence, Giles, Wayne, or Henderson counties in Tennessee. This community charter structure allows ERCU to serve a broad geographic area while maintaining its cooperative principles. The credit union operates under the philosophy of "once a member, always a member," emphasizing lasting relationships with its member-owners.

All deposits at ERCU are federally insured by the NCUA, providing the same level of protection as FDIC insurance at banks.

Employee Resources Credit Union (ERCU)

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About Employee Resources Credit Union (ERCU) in the United States