Dec, 31, 2023 — EDUCATORS CREDIT UNION is a federally insured state chartered credit union headquartered in WACO, TX with 8 branch locations and about $547.59 million in total assets. Opened 86 years ago in 1938, EDUCATORS CREDIT UNION has about 28,405 members and employs 50 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | EDUCATORS CREDIT UNION |
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Address: (Main Office) | 501 W STATE Highway 6 WACO, TX 76710-5589 |
Phone: | (254) 776-7900 |
Fax: | (254) 751-5876 |
Website: | https://edcu.com |
Branches: | 8 branch locations |
Members: | 28,405 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67611 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1938 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $547,594,495 |
CEO/Manager: | WILLIAM M PALASOTA |
Chairperson: | AL POLLARD |
ASSETS: | $ Amount |
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Cash & Equivalents | 120,170,104 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 48,719,717 |
Unsecured Loans | 2,834,829 |
Other Loans | 114,162,182 |
TOTAL LOANS | 165,716,728 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -290,407 |
Land And Building | 4,221,944 |
Other Fixed Assets | 198,350 |
NCUSIF Deposit | 4,303,316 |
All Other Assets | 2,634 |
TOTAL ASSETS | 547,594,495 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 819,306 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 84,203,467 |
Regular shares | 178,167,095 |
All Other Shares & Deposits | 189,347,724 |
TOTAL SHARES & DEPOSITS | 451,718,286 |
TOTAL LIABILITIES | 452,537,592 |
Regular Reserve | 0 |
Other Reserves | 3,131,545 |
Undivided Earnings | 91,925,358 |
TOTAL EQUITY | 95,056,903 |
TOTAL LIABILITIES, SHARES, & EQUITY | 547,594,495 |
INCOME & EXPENSE | |
Loan Income | 6,606,887 |
Investment Income | 12,795,192 |
Other Income | 2,308,084 |
Total Employee Compensation & Benefits | 4,416,375 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,808,712 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -2,431 |
Cost of Funds | 5,224,201 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 9,272,375 |
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