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National Credit Union Service Organization

EDUCATORS CREDIT UNION
— Statement of Financial Condition

Then NCUA provides quarterly Call Reports using accounting and statistical information from each credit union. The Call Report includes Balance Sheet, Income Statement and more.

Statement of financial condition for EDUCATORS CREDIT UNION as of: December 31, 2023.
Charter Number: 66448

ASSETS$ Amount
CASH:  
 1. Cash on Hand 42,247,113
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 100,944,209
 3. Cash Equivalents (Investments with Original Maturities of Three Months or Less) 0
INVESTMENTS:  
 4. Equity Securities 0
 5. Trading Debut Securities 0
 6. Available-for-Sale Debt Securities 668,747,480
 7. Held-to-Maturity Debt Securities 0
 8. Deposits in commercial banks, S&Ls, savings banks 0
 9. Loans to and investments in natural person credit unions 0
 10. Nonperpetual Capital Account 3,869,837
 11. Perpetual Contributed Capital 6,839,250
 12. All other investments in corporate credit unions 0
 13. All other investments 0
 14. TOTAL INVESTMENTS 0
LOANS HELD FOR SALE:  
 15. Loans Held for Sale 666,900
LOANS AND LEASES:  
 16. TOTAL LOANS & LEASES 2,249,141,278
 17. Less: Allowance for Loan & Lease Losses 0
 18: Less: Allowance for Credit Losses on Loans & Leases 21,092,430
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 225,109
 20. Land and Building 43,820,188
 21. Other Fixed Assets 9,839,143
 22. NCUA Share Insurance Capitalization Deposit 28,163,375
 23. Intangible Assets 0
 24. Other Assets 0
25. TOTAL ASSETS 3,226,162,047
LIABILITIES$ Amount
 1. Draws Against Lines of Credit 0
 2. Other Notes, Promissory Notes and Interest Payable 0
 3. Borrowing Repurchase Transactions 0
 4. Subordinated Debt 0
 5. Subordinated Debt included in Net Worth 0
 6. TOTALS 0
 7. Non-Trading Derivative Liabilities 0
 8. Accrued Dividends & Interest Payable on Shares & Deposits 1,617,286
 9. Accounts Payable and Other Liabilities 99,572,499
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 8,280
SHARES/DEPOSITS:  
 11. Share Drafts 550,607,507
 12. Regular Shares 922,739,574
 13. Money Market Shares 902,398,773
 14. Share Certificates 311,907,050
 15. IRA/KEOGH Accounts 100,486,065
 16. All Other Shares 13,450,595
 17. TOTAL SHARES 2,801,589,563
 18. Nonmember Deposits 0
 19. TOTAL SHARES AND DEPOSITS 2,801,589,563
20. TOTAL LIABILITIES  
 21. Accounts Held by Member Public Units 615,486
 22. Accounts Held by Nonmember Public Units 0
 23. Employee Benefit Member Shares 0
 24. Employee Benefit Nonmember Shares 0
 25. 529 Plan Member Deposits 0
 26. Non-dollar denominated deposits 0
 27. Health Savings Account 0
 28. Dollar Amount of Share Certificates equal to or greater than $100,000 (Excluding brokered share certificates participated out by the broker in shares of less than $100,000) 125,759,853
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 22,175,804
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 0
 31. Dollar Amount of Commercial Share Accounts 163,099,783
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 3,008,174
EQUITY:  
 33. Undivided Earnings 405,384,281
 34. Regular Reserves 0
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 0
 37. Equity Acquired in Merger 16,272,523
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) 0
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities -98,282,385
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 0
44. TOTAL LIABILITIES, SHARES, AND EQUITY 3,226,162,047
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 99,308,875
 2. (Less) Interest Refunded 0
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 50,103,462
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 149,412,337
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 32,948,572
 7. Interest on Deposits (Total interest expense for deposit accounts) (State Credit Union ONLY) 0
 8. Interest on Borrowed Money 23,557,576
 9. TOTAL INTEREST EXPENSE 56,506,148
 10. Provision for Loan & Lease Losses 0
 11. Total Credit Loss Expense 11,727,680
 12. NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES or CREDIT LOSS EXPENSE 0
NON-INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 13. Fee Income 19,007,419
 14. Other Operating Income (Includes unconsolidated CUSO Income and Gain (Loss) associated with the Hedged Item (NonInvestment Assets) in a Non-Trading, Fair Value (FV) Derivatives Hedge) 0
 15. Gain (Loss) on Equity Securities (DO NOT include Gain (Loss) on other securities) 0
 16. Gain (Loss) on Other Securities (DO NOT include Gain or Loss on Equity Securities) 0
 17. Gain (Loss) on Non-Trading Derivatives 0
 18. Gain (Loss) on Disposition of Fixed Assets 11,546,656
 19. Gain from Bargain Purchase (Merger) 0
 20. Other Non-operating Income (Expense) 0
 21. TOTAL NON-INTEREST INCOME 77,552,611
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 46,164,371
 23. Travel and Conference Expense 893,519
 24. Office Occupancy Expense 6,949,978
 25. Office Operations Expense 31,247,668
 26. Educational and Promotional Expenses 5,015,205
 27. Loan Servicing Expense 21,799,741
 28. Professional and Outside Services 1,716,560
 29. Total Member Insurance 0
 30. Operating Fees (Examination and/or supervision fees) 167,076
 31. Miscellaneous Operating Expenses 740,068
 32. TOTAL NON-INTEREST EXPENSE 114,694,186
33. NET INCOME (LOSS) 44,036,934
RESERVE TRANSFERS YEAR-TO-DATE FOR THE CYCLE  
 34. Transfer to Regular Reserves 0
Interest Rate# LoansAmount
Non-Commercial Loans/Lines of Credit
 1. Unsecured Credit Card Loans11.9064,013$140,813,332
 2. Payday Alternative Loans (PALs I and PALs II)0.000$0
 3. Non-Federally Guaranteed Student Loans7.752,983$49,651,529
 4. All Other Unsecured Loans/Lines of Credit - include SBA PPP loans19.9011,553$55,491,116
 5. New Vehicle Loans6.807,015$159,955,013
 6. Used Vehicle Loans6.8523,836$340,893,888
 7. Leases Receivable5.901,327$38,798,741
 8. All Other Secured Non-Real Estate Loans/Lines of Credit3.061,272$9,862,605
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property7.259,756$1,131,867,931
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property7.999,475$191,188,133
 11. All Other Real Estate Loans/Lines of Credit6.5010$326,231
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured7.75356$113,692,105
 13. Commercial Loans/Lines of Credit Not Real Estate Secured8.90251$16,600,654
 14. TOTAL LOANS & LEASES131,847$2,249,141,278
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date25,305$630,583,108
  a. Payday Alternative Loans (PALs I and PALs II) Granted Year-to-Date0$0
MISCELLANEOUS LOAN INFORMATIONNumberAmount
 16. Non-Federally Guaranteed Student Loans in Deferred Status0$0
 17. Loans Outstanding to Credit Union Officials and Senior Executive Staff168$1,560,975
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration16$263,023$226,974
  a. 2. Paycheck Protection Program Loans (Included in 18.a.1.)11$57,504-
  b. Other Government Guaranteed0$0$0
 19. Commercial Loans  
  a. Small Business Administration7$1,137,124$722,595
  b. Other Government Guaranteed0$0$0