Dec, 31, 2021 — EDUCATION FIRST CREDIT UNION, INC is a federally insured state chartered credit union headquartered in COLUMBUS, OH with 3 branch locations and about $140.78 million in total assets. Opened 86 years ago in 1936, EDUCATION FIRST CREDIT UNION, INC has about 12,667 members and employs 36 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 FIRST CREDIT UNION, INC |
|---|---|
| Address: (Main Office) | 510 E Mound St COLUMBUS, OH 43215-5539 |
| Phone: | (614) 221-9376 |
| Fax: | (614) 212-8127 |
| Website: | http://www.educu.org |
| Branches: | 3 branch locations |
| Members: | 12,667 |
| 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: | $140,777,348 |
| CEO/Manager: | Michael Wettrich |
| Chairperson: | Julie Didlick |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,982,646 |
| TOTAL INVESTMENTS | 29,581,341 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 38,425,991 |
| Unsecured Loans | 17,053,982 |
| Other Loans | 33,063,663 |
| TOTAL LOANS | 88,543,636 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -785,715 |
| Land And Building | 4,824,745 |
| Other Fixed Assets | 300,488 |
| NCUSIF Deposit | 1,188,148 |
| All Other Assets | 10,142,059 |
| TOTAL ASSETS | 140,777,348 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 6,000,000 |
| Accounts Payable & Other Liabilities | 662,206 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 20,960,181 |
| Regular shares | 41,525,542 |
| All Other Shares & Deposits | 59,369,157 |
| TOTAL SHARES & DEPOSITS | 121,854,880 |
| TOTAL LIABILITIES | 128,517,086 |
| Regular Reserve | 1,839,147 |
| Other Reserves | -286,512 |
| Undivided Earnings | 10,707,627 |
| TOTAL EQUITY | 12,260,262 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 140,777,348 |
| INCOME & EXPENSE | |
| Loan Income | 4,991,099 |
| Investment Income | 263,408 |
| Other Income | 1,278,601 |
| Total Employee Compensation & Benefits | 2,708,378 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,121,717 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 603,762 |
| Cost of Funds | 628,760 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 635,819 |
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