Jun, 30, 2024 — EDU FEDERAL CREDIT UNION is a federal credit union headquartered in HISTORIC NEW CASTLE, DE with 3 branch locations and about $49.53 million in total assets. Opened 71 years ago in 1953, EDU FEDERAL CREDIT UNION has about 9,691 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | EDU FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 113 W 6th St HISTORIC NEW CASTLE, DE 19720-5070 |
| Phone: | (302) 613-5330 |
| Fax: | (302) 613-5350 |
| Website: | https://www.edufcu.org |
| Branches: | 3 branch locations |
| Members: | 9,691 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8609 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $49,533,679 |
| CEO/Manager: | Terri L Keene |
| Chairperson: | David Taylor |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,212,458 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 971,548 |
| Unsecured Loans | 4,562,373 |
| Other Loans | 6,689,970 |
| TOTAL LOANS | 12,223,891 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -178,006 |
| Land And Building | 563,807 |
| Other Fixed Assets | 15,270 |
| NCUSIF Deposit | 478,548 |
| All Other Assets | 0 |
| TOTAL ASSETS | 49,533,679 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 12 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 103,394 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,383,157 |
| Regular shares | 39,686,030 |
| All Other Shares & Deposits | 734,799 |
| TOTAL SHARES & DEPOSITS | 47,803,986 |
| TOTAL LIABILITIES | 47,907,392 |
| Regular Reserve | 0 |
| Other Reserves | -140,072 |
| Undivided Earnings | 1,766,359 |
| TOTAL EQUITY | 1,626,287 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 49,533,679 |
| INCOME & EXPENSE | |
| Loan Income | 541,218 |
| Investment Income | 300,689 |
| Other Income | 80,471 |
| Total Employee Compensation & Benefits | 529,901 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 637,102 |
| Non-operating Income & (Expense) | 8,955 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -40,000 |
| Cost of Funds | 5,259 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -12,319 |
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