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FINANCIAL EDUCATORS FEDERAL CREDIT UNION

Dec, 31, 2023 — FINANCIAL EDUCATORS FEDERAL CREDIT UNION is a federal credit union headquartered in DAYTONA BEACH, FL with 2 branch locations and about $22.92 million in total assets. Opened 55 years ago in 1969, FINANCIAL EDUCATORS FEDERAL CREDIT UNION has about 1,414 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:FINANCIAL EDUCATORS FEDERAL CREDIT UNION
Address:
(Main Office)
1200 W International Speedway Blvd
DAYTONA BEACH, FL 32114-2817
Phone:(386) 506-3040
Fax:(386) 226-0431
Website:https://www.financialedufcu.com
Branches:2 branch locations
Members:1,414
Credit Union Type:Federal Credit Union
Charter Number:19605
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1969
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$22,920,961
CEO/Manager:Russell J Morin
Chairperson:Robert Monroe

Call Report

  • Payday Alternative Loans (PAL Loans)
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 974,588
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 7,060,743
 Unsecured Loans 1,226,942
 Other Loans 4,239,121
 TOTAL LOANS 12,526,806
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -307,134
 Land And Building 50,783
 Other Fixed Assets 13,833
 NCUSIF Deposit 195,892
 All Other Assets 0
  TOTAL ASSETS 22,920,961
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 225,672
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,669,439
 Regular shares 5,908,398
 All Other Shares & Deposits 10,329,311
  TOTAL SHARES & DEPOSITS 19,907,149
  TOTAL LIABILITIES 20,132,821
 Regular Reserve 0
 Other Reserves -474,594
 Undivided Earnings 3,262,734
  TOTAL EQUITY 2,788,140
  TOTAL LIABILITIES, SHARES, & EQUITY 22,920,961
INCOME & EXPENSE  
 Loan Income 621,172
 Investment Income 198,825
 Other Income 106,098
 Total Employee Compensation & Benefits 207,460
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 345,693
 Non-operating Income & (Expense) 943
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 167,562
 Cost of Funds 113,372
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 113,550
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