When You Live Outside the US, It Does Matter where You Bank

by Schuyler Francine

lobby wall missionary map

February 7, 2017

Why would more than 4,000 missionaries living all around the world choose to bank with a credit union in Southern California? You may be one of those missionaries. I’m not, but as an ECCU relationship manager, I get to serve many of them indirectly by working with their sending agencies. Sometimes I even get to serve alongside them on the field on short-term trips. So, I get to see and hear why ECCU is the financial institution of choice for so many missionaries. Here are the top three reasons.

We know missionaries.

When you work with missionaries and their sending agencies for more than 50 years, you get to know them and the unique nature of their ministry. We understand why they engage in banking activity that raises red flags at many other financial institutions and maybe prompts them to close their accounts. We know why missionaries choose to live in certain high-risk countries. Why they might need to use ATMs so often or withdraw so much cash from their accounts. Why they need to travel frequently.

We tailor accounts and services to meet missionaries’ needs.

Missionaries need to focus more on ministry than banking. This philosophy is reflected in the accounts and services we offer them. Here are a few helpful ones:

  • Missionaries can use their mobile devices to deposit checks and wire funds from their US accounts to their foreign ones.
  • Members and future members can sign documents and open accounts remotely, sometimes from the other side of the world!
  • Missionaries can get a credit card with the EMV chip technology used in so many other countries. It has no international transaction fees and gives you 1.5% cash back on all your purchases.

We support missionaries.

Besides offering accounts and providing services that make banking quicker, easier and safer for missionaries, we reduce or waive many of the fees that other financial institutions charge*. This saves our missionary members an average of $600 in fees each year*. That adds up to $2.4 million that they can invest in ministry!

So yes, from my perspective it does matter where a missionary banks. Because of my heart for missions, one more reason is personal for me. ECCU doesn’t just support missionaries. We also send them. Nearly a dozen former ECCU employees now serve on the field long-term, and the credit union is privileged to be part of their financial support teams.

You can learn more about what ECCU offers our missionary members here.

*Visit our missionary page for more information.

Category: Missionary Minded