Dec, 31, 2023 — EDUCATION FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in BEAUMONT, TX with 8 branch locations and about $628.69 million in total assets. Opened 72 years ago in 1952, EDUCATION FIRST FEDERAL CREDIT UNION has about 32,607 members and employs 166 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 |
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Address: (Main Office) | 7025 Eastex Fwy BEAUMONT, TX 77706-6515 |
Phone: | (409) 898-3770 |
Fax: | (409) 898-2289 |
Website: | https://www.educationfirstfcu.org |
Branches: | 8 branch locations |
Members: | 32,607 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24470 |
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Membership Type: | Multiple common bond - Primarily educational |
Corporate Credit Union: | No |
Year Opened: | 1952 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $628,693,027 |
CEO/Manager: | Kevin M Conn |
Chairperson: | Chris Busch |
ASSETS: | $ Amount |
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Cash & Equivalents | 14,627,858 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 122,434,989 |
Unsecured Loans | 48,348,292 |
Other Loans | 215,324,045 |
TOTAL LOANS | 394,203,132 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,644,996 |
Land And Building | 19,010,624 |
Other Fixed Assets | 12,339,991 |
NCUSIF Deposit | 4,823,976 |
All Other Assets | 154,003 |
TOTAL ASSETS | 628,693,027 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 1,018,800 |
Notes & Interest Payable | 61,500,000 |
Accounts Payable & Other Liabilities | 4,657,012 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 101,568,810 |
Regular shares | 146,862,674 |
All Other Shares & Deposits | 280,930,555 |
TOTAL SHARES & DEPOSITS | 529,362,039 |
TOTAL LIABILITIES | 596,537,851 |
Regular Reserve | 0 |
Other Reserves | -20,986,757 |
Undivided Earnings | 53,141,933 |
TOTAL EQUITY | 32,155,176 |
TOTAL LIABILITIES, SHARES, & EQUITY | 628,693,027 |
INCOME & EXPENSE | |
Loan Income | 19,975,655 |
Investment Income | 6,491,657 |
Other Income | 4,290,468 |
Total Employee Compensation & Benefits | 12,211,095 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 11,436,170 |
Non-operating Income & (Expense) | 312,752 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,907,512 |
Cost of Funds | 9,428,508 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 238,366 |
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