Dec, 31, 2023 — EDUCATION FIRST CREDIT UNION, INC is a federally insured state chartered credit union headquartered in COLUMBUS, OH with 2 branch locations and about $137.06 million in total assets. Opened 88 years ago in 1936, EDUCATION FIRST CREDIT UNION, INC has about 12,472 members and employs 38 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | EDUCATION FIRST CREDIT UNION, INC |
|---|---|
| Address: (Main Office) | 510 E Mound St COLUMBUS, OH 43215-5539 |
| Phone: | (614) 221-9376 |
| Fax: | (614) 212-8127 |
| Website: | https://www.educu.org |
| Branches: | 2 branch locations |
| Members: | 12,472 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68447 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $137,058,995 |
| CEO/Manager: | Michael Wettrich |
| Chairperson: | Julie Didlick |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,433,187 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 42,944,639 |
| Unsecured Loans | 15,491,337 |
| Other Loans | 34,521,661 |
| TOTAL LOANS | 92,957,637 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,476,649 |
| Land And Building | 5,353,701 |
| Other Fixed Assets | 187,800 |
| NCUSIF Deposit | 1,177,861 |
| All Other Assets | 92,980 |
| TOTAL ASSETS | 137,058,995 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 3,000,000 |
| Accounts Payable & Other Liabilities | 1,006,934 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 20,699,811 |
| Regular shares | 39,609,626 |
| All Other Shares & Deposits | 59,853,046 |
| TOTAL SHARES & DEPOSITS | 120,162,482 |
| TOTAL LIABILITIES | 124,169,416 |
| Regular Reserve | 0 |
| Other Reserves | 97,333 |
| Undivided Earnings | 12,792,246 |
| TOTAL EQUITY | 12,889,579 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 137,058,995 |
| INCOME & EXPENSE | |
| Loan Income | 5,464,100 |
| Investment Income | 1,142,201 |
| Other Income | 1,379,810 |
| Total Employee Compensation & Benefits | 3,240,986 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,518,075 |
| Non-operating Income & (Expense) | 225 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 816,450 |
| Cost of Funds | 1,265,907 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 187,434 |
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