we began serving hourly wage earners from a janitor room at the U of I Power Plant in October 1932. At the end of that first year, the credit union had 37 members, two borrowers, and $116.97 in assets. By 1935, the credit union moved off campus to Urbana, expanded its charter to include faculty, and was renamed University of Illinois Employees Credit Union (UIECU).
UIECU’s assets and membership continued to grow, and in 1954 Glen Pickens took a leave from the University to become the first full time employee of the credit union. UIECU’s assets reached over $1, 000, 000 the following year.
Over the years, we continued to expand our product offerings to better meet the needs of our members. UIECU began the Illinois Guaranteed Loan Program in 1968 to help members obtain loans for their children’s college tuition, and in 1973 we began offering payroll deduction. Share draft checking, certificates, second mortgages, IRAs and money market accounts soon followed.
In 1998, Illini Student Federal Credit Union merged with UIECU making students eligible for membership at UIECU. Champaign Bell Credit Union merged with UIECU in 1999, extending membership eligibility to employees of telecommunications businesses such as Illinois Bell Telephone Company, Ameritech, AT&T Information System, AT&T Communications, AT&T Technologies, and Lucent Technologies.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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