Dec, 31, 2023 — EDUCATORS CREDIT UNION is a federally insured state chartered credit union headquartered in WACO, TX with 8 branch locations and about $547.59 million in total assets. Opened 86 years ago in 1938, EDUCATORS CREDIT UNION has about 28,405 members and employs 50 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | EDUCATORS CREDIT UNION |
|---|---|
| Address: (Main Office) | 501 W STATE Highway 6 WACO, TX 76710-5589 |
| Phone: | (254) 776-7900 |
| Fax: | (254) 751-5876 |
| Website: | https://edcu.com |
| Branches: | 8 branch locations |
| Members: | 28,405 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67611 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1938 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $547,594,495 |
| CEO/Manager: | WILLIAM M PALASOTA |
| Chairperson: | AL POLLARD |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 120,170,104 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 48,719,717 |
| Unsecured Loans | 2,834,829 |
| Other Loans | 114,162,182 |
| TOTAL LOANS | 165,716,728 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -290,407 |
| Land And Building | 4,221,944 |
| Other Fixed Assets | 198,350 |
| NCUSIF Deposit | 4,303,316 |
| All Other Assets | 2,634 |
| TOTAL ASSETS | 547,594,495 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 819,306 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 84,203,467 |
| Regular shares | 178,167,095 |
| All Other Shares & Deposits | 189,347,724 |
| TOTAL SHARES & DEPOSITS | 451,718,286 |
| TOTAL LIABILITIES | 452,537,592 |
| Regular Reserve | 0 |
| Other Reserves | 3,131,545 |
| Undivided Earnings | 91,925,358 |
| TOTAL EQUITY | 95,056,903 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 547,594,495 |
| INCOME & EXPENSE | |
| Loan Income | 6,606,887 |
| Investment Income | 12,795,192 |
| Other Income | 2,308,084 |
| Total Employee Compensation & Benefits | 4,416,375 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,808,712 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -2,431 |
| Cost of Funds | 5,224,201 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 9,272,375 |
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