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EDUCATION 1ST CREDIT UNION

Dec, 31, 2023 — EDUCATION 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in OGDEN, UT with 1 branch location and about $47.53 million in total assets. Opened 92 years ago in 1932, EDUCATION 1ST CREDIT UNION has about 2,619 members and employs 7 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 1ST CREDIT UNION
Address:
(Main Office)
1250 Country Hills Dr
OGDEN, UT 84403-2560
Phone:(801) 392-4877
Fax:(801) 392-4879
Website:https://e1cu.org
Branches:1 branch locations
Members:2,619
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67127
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1932
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$47,532,213
CEO/Manager:Kent M Greenfield
Chairperson:Kristy Ellis

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,335,733
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 25,216,545
 Unsecured Loans 2,523,218
 Other Loans 13,706,779
 TOTAL LOANS 41,446,542
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -130,552
 Land And Building 208,487
 Other Fixed Assets 208,900
 NCUSIF Deposit 356,053
 All Other Assets 0
  TOTAL ASSETS 47,532,213
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 147,046
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 9,426,782
 Regular shares 14,665,418
 All Other Shares & Deposits 18,403,337
  TOTAL SHARES & DEPOSITS 42,495,537
  TOTAL LIABILITIES 42,642,583
 Regular Reserve 0
 Other Reserves 2,122,201
 Undivided Earnings 2,767,429
  TOTAL EQUITY 4,889,630
  TOTAL LIABILITIES, SHARES, & EQUITY 47,532,213
INCOME & EXPENSE  
 Loan Income 1,981,026
 Investment Income 78,873
 Other Income 270,562
 Total Employee Compensation & Benefits 702,463
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 597,642
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 135,232
 Cost of Funds 789,216
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 216,753
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