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 |
| 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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