Sep, 30, 2025 — EDUCATION FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in BEAUMONT, TX with 9 branch locations and about $590.52 million in total assets. Opened 74 years ago in 1952, EDUCATION FIRST FEDERAL CREDIT UNION has about 32,346 members and employs 144 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 FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 7025 Eastex Fwy BEAUMONT, TX 77706-6515 |
| Phone: | (409) 898-3770 |
| Fax: | (409) 898-2289 |
| Website: | https://www.educationfirstfcu.org |
| Branches: | 9 branch locations |
| Members: | 32,346 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24470 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Mar 01, 2025 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $590,523,115 |
| CEO/Manager: | Urjit Patel |
| Chairperson: | Chris Busch |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 23,006,293 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 128,296,399 |
| Unsecured Loans | 45,431,367 |
| Other Loans | 175,432,581 |
| TOTAL LOANS | 366,046,226 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,049,156 |
| Land And Building | 25,734,726 |
| Other Fixed Assets | 3,835,183 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 4,988,697 |
| All Other Assets | 259,134 |
| TOTAL ASSETS | 590,523,115 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,573,584 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 104,166,366 |
| Regular shares | 150,926,958 |
| All Other Shares & Deposits | 295,461,885 |
| TOTAL SHARES & DEPOSITS | 550,555,210 |
| TOTAL LIABILITIES | 554,128,794 |
| Regular Reserve | 0 |
| Other Reserves | -11,255,016 |
| Undivided Earnings | 47,649,337 |
| TOTAL EQUITY | 36,394,321 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 590,523,115 |
| INCOME & EXPENSE | |
| Loan Income | 17,560,354 |
| Investment Income | 4,404,706 |
| Other Income | 3,334,968 |
| Total Employee Compensation & Benefits | 8,811,045 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 10,100,516 |
| Non-operating Income & (Expense) | -10,921 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,239,507 |
| Cost of Funds | 7,132,003 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -1,441,322 |
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