With each monthly loan payment, money is deposited into an escrow account for property taxes, homeowners insurance and any mortgage insurance. Each year when property taxes and homeowners insurance are due, the loan servicer uses these funds to pay the tax agency and insurance companies. EECU does not offer escrow accounts, however other options are available, such as establishing a monthly automatic transfer into a credit union sub-share account that you designate for that purpose.  We also offer loan products through our partnership with CU Members Mortgage that require or allow escrow accounts