Education Credit Union

Organization Overview

Education Credit Union is located in Amarillo, TX. The organization was established in 1976. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Education Credit Union employed 146 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Education Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, Education Credit Union generated $24.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $21.0m during the year ending 12/2021. While expenses have increased by 3.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO BE THE PREFERRED FINANCIAL SERVICES PROVIDER FOR OUR MEMBERSHIP

Describe the Organization's Program Activity:

Part 3 - Line 4a

ECU OFFERS ITS MEMBERS FEDERALLY ISURED CERTIFICATES OF DEPOSIT AT COMPETITIVE RATES.


ECU OFFERS SHARE AND DEPOSIT PRODUCTS THAT INCLUDE SAVINGS, CHECKING, HEALTH SAVINGS, AND MONEY MARKET ACCOUNTS.


ECU OFFERS IRA PRODUCTS THAT ARE FEDERALLY INSURED UP TO $250,000 PER DEPOSITOR, AT COMPETITIVE RATES


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Board, Officers & Key Employees

Name (title)Compensation
Eric Jenkins
President/ceo
$447,697
Claudia Burkett
Executive VP
$387,200
Marcus Smith
CFO
$243,830
Jacque Bagot
Sr VP Of Information Sys
$190,381
Amy Hamilton
VP Lending
$135,709
Melissa Durling
VP Of Lending
$133,321

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$15,602,405
Investment income $235,181
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $24,947,784

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Community Resource Credit Union
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