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EDUCATION FIRST CREDIT UNION, INC

Sep, 30, 2021 — EDUCATION FIRST CREDIT UNION, INC is a federally insured state chartered credit union headquartered in Columbus, OH with 3 branch locations and about $140.10 million in total assets. Opened 86 years ago in 1936, EDUCATION FIRST CREDIT UNION, INC has about 12,723 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 244077271
Name:EDUCATION FIRST CREDIT UNION, INC
Address:
(Main Office)
510 E. Mound St.
Columbus, OH 43215
Phone:(614) 221-9376
Fax:(614) 212-8127
Website:http://www.educu.org
Branches:3 branch locations
Members:12,723
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68447
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1936
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$140,098,236
CEO/Manager:Michael Wettrich
Chairperson:Julie Didlick

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,515,225
TOTAL INVESTMENTS 32,815,241
Loans Held for Sale 0
 
 Real Estate Loans 38,471,782
 Unsecured Loans 17,427,564
 Other Loans 30,960,598
 TOTAL LOANS 86,859,944
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -756,640
 Land And Building 4,410,056
 Other Fixed Assets 341,857
 NCUSIF Deposit 1,121,829
 All Other Assets 8,790,724
  TOTAL ASSETS 140,098,236
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 6,000,000
 Accounts Payable & Other Liabilities 612,584
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 19,792,285
 Regular shares 40,731,660
 All Other Shares & Deposits 61,196,615
  TOTAL SHARES & DEPOSITS 121,720,560
  TOTAL LIABILITIES 128,333,144
 Regular Reserve 1,839,147
 Other Reserves -799,590
 Undivided Earnings 10,725,535
  TOTAL EQUITY 11,765,092
  TOTAL LIABILITIES, SHARES, & EQUITY 140,098,236
INCOME & EXPENSE  
 Loan Income 3,750,549
 Investment Income 183,281
 Other Income 933,882
 Total Employee Compensation & Benefits 1,983,465
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,261,602
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 355,912
 Cost of Funds 487,321
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 653,726
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