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EDUCATION CREDIT UNION

Mar, 31, 2022 — EDUCATION CREDIT UNION is a federally insured state chartered credit union headquartered in AMARILLO, TX with 7 branch locations and about $389.59 million in total assets. Opened 87 years ago in 1935, EDUCATION CREDIT UNION has about 31,385 members and employs 136 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 CREDIT UNION
Address:
(Main Office)
6203 Hillside Rd
AMARILLO, TX 79109-7193
Phone:(806) 358-7777
Fax:(806) 242-9556
Website:http://www.educationcu.com
Branches:7 branch locations
Members:31,385
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67494
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1935
Last Audited:Jun 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$389,593,443
CEO/Manager:Eric Jenkins
Chairperson:Daniel Coward

Call Report

  • First Time Homebuyer Program

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 27,635,769
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 113,292,477
 Unsecured Loans 41,904,188
 Other Loans 154,670,580
 TOTAL LOANS 311,020,364
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,294,867
 Land And Building 8,160,512
 Other Fixed Assets 8,616,443
 NCUSIF Deposit 2,870,879
 All Other Assets 0
  TOTAL ASSETS 389,593,443
LIABILITIES & CAPITAL:  
 Dividends Payable 669,420
 Notes & Interest Payable 10,000,000
 Accounts Payable & Other Liabilities 5,326,768
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 51,961,626
 Regular shares 121,588,394
 All Other Shares & Deposits 154,362,917
  TOTAL SHARES & DEPOSITS 327,912,937
  TOTAL LIABILITIES 343,909,125
 Regular Reserve 0
 Other Reserves -511,905
 Undivided Earnings 46,196,223
  TOTAL EQUITY 45,684,318
  TOTAL LIABILITIES, SHARES, & EQUITY 389,593,443
INCOME & EXPENSE  
 Loan Income 4,014,453
 Investment Income 55,182
 Other Income 965,910
 Total Employee Compensation & Benefits 2,846,298
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,262,864
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 448,831
 Cost of Funds 313,529
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 812,993
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