FAQ

How do I become a member?

A: It's easy to join the E1 family! First, you need to make sure you qualify for membership. Then complete the online application. Or if you prefer, stop by one of our branches today. Join now so you can start enjoying the benefits of membership.
How do I apply for a loan?

A: Choose the method that's most convenient for you. You can apply online 24/7, in person at any of our branches, or by phone at (888) 994–3328, press 4.
Is my money insured at E1 Financial?

A: Not only are your funds insured, but they are insured to the highest degree possible. Unlike most financial institutions, who insure your funds up to $100,000 per person, E1 wanted to make sure you are covered no matter what your balances are. Therefore, we insure your deposits through American Share Insurance (ASI) up to $500,000 per account. There are no limits on the number of accounts you can have with us, and each one has this extended protection.
How do I find surcharge free ATMs?

A: With over 25,000 surcharge free ATMs available to you, including 7–11 stores, finding an ATM is easy! Whether you're on vacation or near home, find your ATM here.
Can I conduct E1 Financial transactions at a different credit union?

A: Of course! Credit unions work together to make visiting a branch as easy as possible. No matter where life takes you, you may visit more than 2,000 shared branches across the U.S. to conduct credit union transactions through National Shared Branching. Look for the "CU Swirl" logo to take advantage of convenient access to your credit union accounts.

Click here to find a CU Service Center® near you.
Aren't all credit unions and banks the same? Why should I become a member?

A: Unlike other financial institutions, E1 Financial puts your needs first – going even further than many would to help. As a member–owner, what you say matters and we'll always do the best we can to help you achieve financial goals and help you to stay true to your dreams.
Is E1 safe and sound?

A: E1 remains a safe and sound financial institution. Because our principles are based on safety and soundness, we have not made, and will not make risky loans (i.e. sub–prime lending), therefore we have not experienced the financial difficulties other financial institutions are currently facing.
Is E1 "Well Capitalized"? What are the figures?

A: E1 is well capitalized at over 17%. The National Credit Union Association, a federal regulatory agency, defines well capitalized credit unions as those at greater than 6%.
What is the percentage of delinquent loans and losses?

A: E1 has both a delinquency rate and charge off rate of less than 1% each. That means that more than 99% of the loans we make are current and paying on schedule. This figure is well below the national average for both banks and credit unions.
Where can I get a copy of E1's annual report?

A: We have posted a copy of our annual report on our website, here. If members prefer, we'll be happy to mail them a copy – contact us.
Where can I get a copy of E1's Statement of Financial Condition?

A: The Statement of Financial Condition is posted in the lobby of each branch and a copy can be made at a member's request.
Why don't you have federal insurance?

A: Private deposit insurance is not new, or unique, in the credit union industry. In fact, private deposit insurance existed long before a federally–based system was adopted by banks and credit unions. E1 decided it was in our members' best interest to have the highest deposit insurance available, and has even purchased additional insurance for our members' deposits. By using ASI, we are able to provide our members with $500,000 for each account they have, more than five times the amount covered by federal insurance!
Who owns ASI (private company or public)?

A: ASI is privately owned by the credit unions they insure, and therefore, those credit union members are also owners of ASI. Because they are privately owned, they don't have the pressure of meeting stockholder profit expectations and therefore are prudent and conservative in their investments.
How secure is ASI given the market condition and the current market of claims?

A: ASI only insures credit unions. Unlike federal deposit insurance which must insure every financial institution regardless of safety and stability, the credit unions ASI insures must undergo rigorous examination prior to being accepted. This careful selection of participating credit unions controls losses.

ASI is successful because of sound underwriting and risk management policies. They are licensed by the Ohio Department of Insurance and dual regulated by the Ohio Departments of Insurance and Commerce. Credit union examiners from each state in which ASI operates are invited to participate in a comprehensive annual exam of the company. In addition, the Ohio Department of Insurance conducts a cyclical statutory examination of ASI; Deloitte & Touche Accounting Firm annually certifies the company's financial statements; and an independent actuary reports each year as to the sufficiency of the company's reserves.
Where can I get a copy of ASI's annual report?

A: We have posted a copy of ASI's annual report on our website in the ASI Deposit Insurance section.
What companies does ASI invest in?

A: Approximately 90% of ASI investments are in government securities. Because they are privately owned, they don't have the pressure of meeting stockholder profit expectations and therefore are prudent and conservative in their investments. Members can find out information about ASI's investments in their annual report.
How do I contact ASI?

A: If you would like additional information, you can contact ASI at 800.521.6342 or visit their website here.

FAQ