Texas

Credit Union of Texas

Website: http://www.cuoftexas.org/schoolzone.html

Eligibility: Membership is open to anyone who:

  • Lives and works in Dallas, Collin, or Rockwall Counties; and the Lewisville, Red Oak, and Midlothian school districts
  • Is a student attending an institution of higher learning in Dallas, Collin, and Rockwall Counties (includes trade schools, junior college, and four-year colleges)
  • Is a member of a school-related associations and organizations created to serve or assist public or private schools.
  • Works or is a member of a qualifying company or organization
  • Organizations whose members are within CUofTX’s field-of-membership.
  • Is a family member of anyone eligible to join
  • Is an employee of CUofTX

Loans offered:

Loan Description Term APR Loan Limit
First-Year Teacher Loan To defray cost of moving until first paycheck (offered in August and September only) 12 months 0% $2,500
Alternative Teacher Certification Loan To help with certification costs 60 months 1% discount $5,000
Classroom Supply Loan To help school employees furnish classroom 12 months ? $750
Teacher Retirement Buy-Back Loan Buy back existing loans 60 months 1% discount $20,000
Home Possible Neighborhood Solution Teacher Program Purchase or refinance a mortgage with reduced insurance requirements N/A N/A N/A

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A+ Federal Credit Union

Website: http://www.aplusfcu.org

Eligibility: membership is open to all Texas residents, age 18 or older.

Loans offered:

Loan Description Term APR Loan Limit
Klassroom Kash To fund out-of-pocket classroom expenses ? 0% $500
Teacher Home Buyers Program Discounted rates on mortgages, including a 0.5% origination fee discount N/A 0.25% discount N/A
Bridge Loan For newly hired school district employees paid once a month to defray initial expenses ? ? 75% of monthly income

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Firstmark Credit Union

Website: http://www.firstmarkcu.org

Eligibility: Membership is open to anyone who:

  • Lives, works, worships, or attends school in, and businesses located in Bexar County, Texas.
  • Is an employee or student of the public school districts, colleges or universities in the following 13 counties: Atascosa, Bandera, Bexar, Comal, Dimmit, Frio, Guadalupe, Kendall, La Salle, McMullen, Medina, Wilson, and Zavala.
  • Is a relative of those listed above

Loans offered:

Loan Description Term APR Loan Limit
0% Classroom Supply Loan Purchase classroom supplies, automatic payments required 10 months 0% $500
Pre-graduation Student Loan Assistance for student teachers 48 months ? $3500
Alternative Teacher Certification Loan Helps cover costs of alternative certification programs 60 months ? $5000
Post-Graduation Bridge Loan Assistance for graduating teachers yet to start their first teaching assignment 36 months ? $3500
Teacher Retirement Buy-Back Loan For teachers taking a leave of absence ,moving to a district without a retirement plan, or who have had a lapse in contributing to their retirement. 60 months ? $25,000

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Gulf Coast Educators Credit Union

Website: http://www.gcefcu.org

Eligibility: membership is open to anyone who:

  • Works regularly in the Educational Industry in the counties of Harris, Galveston, or Brazoria, Texas, meaning they work for:
    • an elementary school, secondary school, or post-secondary school;
    • a county superintendent of schools office;
    • an authorized education foundation; or
    • a school board, either as employees or trustees
    • Click here for a list of eligible school districts
  • Is a member of record of this credit union as of July 20,. 2006, the effective date of its conversion to a TIP charter
  • Is an employee of this credit union;
  • Is retired as a pensioner or annuitant from the above employment;
  • Is a spouse of a person who died while within the field of membership of this credit union;
  • Is an immediate family member of an eligible person

Loans offered:

Loan Description Term APR Loan Limit
Relocation Loan Aimed at new district employees with relocation expenses 36 months 3.90% $5,000
Classroom Supplies Loan Helps cover out-of-pocket expenses for classroom supplies 24 months 3.90% $1,000
Computer Loan Helps educators keep up with new technologies 24 months 3.90% $2,500
Professional Development Loan Helps educators pursue higher education for career advancement 60 months 3.90% $10,000

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NerdWallet’s star ratings for mortgage lenders are awarded based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.




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