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EDUCATION FIRST FEDERAL CREDIT UNION

Dec, 31, 2023 — EDUCATION FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in BEAUMONT, TX with 8 branch locations and about $628.69 million in total assets. Opened 72 years ago in 1952, EDUCATION FIRST FEDERAL CREDIT UNION has about 32,607 members and employs 166 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: 313177785
Name:EDUCATION FIRST FEDERAL CREDIT UNION
Address:
(Main Office)
7025 Eastex Fwy
BEAUMONT, TX 77706-6515
Phone:(409) 898-3770
Fax:(409) 898-2289
Website:https://www.educationfirstfcu.org
Branches:8 branch locations
Members:32,607
Credit Union Type:Federal Credit Union
Charter Number:24470
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1952
Last Audited:Mar 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$628,693,027
CEO/Manager:Kevin M Conn
Chairperson:Chris Busch

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 14,627,858
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 122,434,989
 Unsecured Loans 48,348,292
 Other Loans 215,324,045
 TOTAL LOANS 394,203,132
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -3,644,996
 Land And Building 19,010,624
 Other Fixed Assets 12,339,991
 NCUSIF Deposit 4,823,976
 All Other Assets 154,003
  TOTAL ASSETS 628,693,027
LIABILITIES & CAPITAL:  
 Dividends Payable 1,018,800
 Notes & Interest Payable 61,500,000
 Accounts Payable & Other Liabilities 4,657,012
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 101,568,810
 Regular shares 146,862,674
 All Other Shares & Deposits 280,930,555
  TOTAL SHARES & DEPOSITS 529,362,039
  TOTAL LIABILITIES 596,537,851
 Regular Reserve 0
 Other Reserves -20,986,757
 Undivided Earnings 53,141,933
  TOTAL EQUITY 32,155,176
  TOTAL LIABILITIES, SHARES, & EQUITY 628,693,027
INCOME & EXPENSE  
 Loan Income 19,975,655
 Investment Income 6,491,657
 Other Income 4,290,468
 Total Employee Compensation & Benefits 12,211,095
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 11,436,170
 Non-operating Income & (Expense) 312,752
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,907,512
 Cost of Funds 9,428,508
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 238,366
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