STCU, Spokane Teachers Credit Union, is a credit union chartered in the state of Washington and North Idaho. It is regulated under the authority of the National Credit Union Administration (NCUA) of the federal government. Membership is open to those "live, work, worship, or attend school" in Washington state, or counties in northern Idaho.[3]
The credit union was founded in October 1934. STCU has more than 246,000 members and over $5 billion in assets.[4][5] Among the many Washington-based credit unions, it is third-largest, based on asset size.[6]
STCU was voted Best Bank/Credit Union each year from 2006-2010 and Best Credit Union from 2011-2023 in the "Best of the Inland Northwest" reader surveys conducted by The Inlander, a free weekly newspaper.[7]
STCU has 34 branch locations throughout Eastern and Central Washington and North Idaho. STCU reports that it began offering online banking in 1997, when many members were skeptical of the service. In 2010, the company updated its online banking system with features such as account alerts, secure messaging, and external transfers.
STCU is a member of the CO-OP Financial Services. Members pay no fees to use nearly 30,000 ATMs worldwide affiliated with the Co-Op Network of credit unions.[8]
In 2015, STCU switched from Visa to Mastercard when the time came to implement EMV technology.
HistoryEdit
STCU was started in 1934 by Ernie McElvain, a teacher at Spokane's Lewis and Clark High School. The credit union operated out of a room on the school's second floor, with a shoebox for cash deposits and a bell with a rope that hung out the window, so that members could ring the bell when they needed to be let inside. The credit union ended the first year with 120 members and $4,000 in assets.[9]
In 1964, STCU left the high school and opened its first office (now its Main Branch) at 106 W. Nora in Spokane. At the time, it had 2,078 members and $1.5 million in assets.[9]
Leadership/GovernanceEdit
In October 2017, STCU announced that CEO and President Tom Johnson would retire at the end of the year.[10] Thomas A. Johnson was promoted to CEO and president, effective January 1, 2011. Johnson served 12 years on the STCU Board of Directors before becoming the credit union's vice president-administration in 2006.[11]
Johnson has said that STCU's long-term planning is guided by three core values: growth in market share, customer service, and efficiency.[11]
On January 1, 2018, Ezra Eckhardt began as the fifth CEO and President in STCU history. Eckhardt is a fifth generation Spokane resident. After Eckhardt attended U.S. Military Academy at West Point, he went on to serve six years in the U.S. Army. He holds a master's degree from Gonzaga University, where he has been an adjunct professor at the Jepson School of Business.[12]
ReferencesEdit
^"STCU names Spokane native Ezra Eckhardt as its next president | the Spokesman-Review".
^"Be an STCU member". Spokane Teachers Credit Union. Retrieved 22 December 2010.
^"The history of STCU". Spokane Teachers Credit Union. Retrieved 2 October 2010.
^M'Elvain, E. E. (June 15, 1947). "Teachers have Credit Union". The Spokesman-Review. Retrieved 2 October 2010.
^"National Credit Union Administration 2010 Directory of Federally Insured Credit Unions" (PDF). National Credit Union Administration. Retrieved 22 December 2010.
^"Best of 2022". The Inlander. March 2022. Retrieved 25 March 2022.
^"CO-OP Network". CO-OP Financial Services. Retrieved 22 December 2010.
^ ab"The history of STCU". Spokane Teachers Credit Union. Retrieved 22 December 2010.
^"STCU CEO Tom Johnson to retire, successor named". Credit Union Journal. Retrieved 25 November 2018.
^ ab"Johnson readies to take STCU's helm during changing times". Spokane Journal of Business. June 4, 2010. Retrieved 22 December 2010.
spokane, teachers, credit, union, stcu, credit, union, chartered, state, washington, north, idaho, regulated, under, authority, national, credit, union, administration, ncua, federal, government, membership, open, those, live, work, worship, attend, school, wa. STCU Spokane Teachers Credit Union is a credit union chartered in the state of Washington and North Idaho It is regulated under the authority of the National Credit Union Administration NCUA of the federal government Membership is open to those live work worship or attend school in Washington state or counties in northern Idaho 3 STCUTypeCredit unionIndustryFinancial servicesFounded1934FounderErnie McElvainHeadquartersLiberty Lake Washington United StatesKey peopleEzra Eckhardt President CEO 1 ProductsSavings checking consumer loans mortgages credit cards online banking business servicesMembers246 000Number of employeesApproximately 850 2 Websitewww stcu orgThe credit union was founded in October 1934 STCU has more than 246 000 members and over 5 billion in assets 4 5 Among the many Washington based credit unions it is third largest based on asset size 6 STCU was voted Best Bank Credit Union each year from 2006 2010 and Best Credit Union from 2011 2023 in the Best of the Inland Northwest reader surveys conducted by The Inlander a free weekly newspaper 7 Contents 1 Services 2 History 3 Leadership Governance 4 References 5 External linksServices Edit STCU branch in Coeur d Alene IdahoSTCU has 34 branch locations throughout Eastern and Central Washington and North Idaho STCU reports that it began offering online banking in 1997 when many members were skeptical of the service In 2010 the company updated its online banking system with features such as account alerts secure messaging and external transfers STCU is a member of the CO OP Financial Services Members pay no fees to use nearly 30 000 ATMs worldwide affiliated with the Co Op Network of credit unions 8 In 2015 STCU switched from Visa to Mastercard when the time came to implement EMV technology History EditSTCU was started in 1934 by Ernie McElvain a teacher at Spokane s Lewis and Clark High School The credit union operated out of a room on the school s second floor with a shoebox for cash deposits and a bell with a rope that hung out the window so that members could ring the bell when they needed to be let inside The credit union ended the first year with 120 members and 4 000 in assets 9 In 1964 STCU left the high school and opened its first office now its Main Branch at 106 W Nora in Spokane At the time it had 2 078 members and 1 5 million in assets 9 Leadership Governance EditIn October 2017 STCU announced that CEO and President Tom Johnson would retire at the end of the year 10 Thomas A Johnson was promoted to CEO and president effective January 1 2011 Johnson served 12 years on the STCU Board of Directors before becoming the credit union s vice president administration in 2006 11 Johnson has said that STCU s long term planning is guided by three core values growth in market share customer service and efficiency 11 On January 1 2018 Ezra Eckhardt began as the fifth CEO and President in STCU history Eckhardt is a fifth generation Spokane resident After Eckhardt attended U S Military Academy at West Point he went on to serve six years in the U S Army He holds a master s degree from Gonzaga University where he has been an adjunct professor at the Jepson School of Business 12 References Edit STCU names Spokane native Ezra Eckhardt as its next president the Spokesman Review Our story Be an STCU member Spokane Teachers Credit Union Retrieved 22 December 2010 The history of STCU Spokane Teachers Credit Union Retrieved 2 October 2010 M Elvain E E June 15 1947 Teachers have Credit Union The Spokesman Review Retrieved 2 October 2010 National Credit Union Administration 2010 Directory of Federally Insured Credit Unions PDF National Credit Union Administration Retrieved 22 December 2010 Best of 2022 The Inlander March 2022 Retrieved 25 March 2022 CO OP Network CO OP Financial Services Retrieved 22 December 2010 a b The history of STCU Spokane Teachers Credit Union Retrieved 22 December 2010 STCU CEO Tom Johnson to retire successor named Credit Union Journal Retrieved 25 November 2018 a b Johnson readies to take STCU s helm during changing times Spokane Journal of Business June 4 2010 Retrieved 22 December 2010 Ezra Eckhardt stcu org Retrieved 2018 11 26 External links EditSpokane Teachers Credit Union web site Retrieved from https en wikipedia org w index php title Spokane Teachers Credit Union amp oldid 1146282730, wikipedia, wiki, book, books, library,
