Civic Intelligence

1St Ed Credit Union

EIN 23-6274650 • 501(c)14 • Chambersburg, PA

Profile

1st ed credit union is a member-owned financial institution, serving school emplopyees and their families in adams, cumberland, franklin, fulton and york counties. Our purpose is to provide members with quality and diverse services, as well as personal attention to their financial needs. We strive for continued growth while maintaining financial stability.

1156 Kennebec DriveChambersburg, PA 17201

www.1edcu.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

30th percentile

0.87x

Higher debt load relative to assets than 30% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

21.82x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Net Margin

25th percentile

5.7%

Higher net margin than 25% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

4th percentile

$118,140

Higher top officer pay than 4% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Asset Growth

69th percentile

4.8%

Faster asset growth than 69% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

82nd percentile

21%

Faster revenue growth than 82% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$138,301,818

Up $3,541,007 (+2.6%) from 2021

Liabilities

Up

$120,824,520

Up $5,215,608 (+4.5%) from 2021

Net Assets

Down

$17,477,298

Down $1,674,601 (-8.7%) from 2021

Revenue

Up

$5,536,855

Up $1,925,834 (+53%) from 2021

Expenses

Up

$5,221,574

Up $1,955,342 (+60%) from 2021

Net Income

Down

$315,281

Down $29,508 (-8.6%) from 2021

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2011: $127,339,707Liabilities 2011: $112,930,205Net Assets 2011: $14,409,5022011Assets 2012: $130,612,589Liabilities 2012: $115,726,667Net Assets 2012: $14,885,9222012Assets 2014: $126,902,996Liabilities 2014: $111,556,561Net Assets 2014: $15,346,4352014Assets 2015: $125,344,237Liabilities 2015: $109,408,282Net Assets 2015: $15,935,9552015Assets 2016: $121,588,283Liabilities 2016: $105,058,637Net Assets 2016: $16,529,6462016Assets 2017: $118,563,673Liabilities 2017: $101,388,458Net Assets 2017: $17,175,2152017Assets 2018: $115,913,743Liabilities 2018: $98,340,686Net Assets 2018: $17,573,0572018Assets 2019: $116,889,166Liabilities 2019: $97,537,932Net Assets 2019: $19,351,2342019Assets 2020: $127,018,767Liabilities 2020: $106,936,002Net Assets 2020: $20,082,7652020Assets 2021: $134,760,811Liabilities 2021: $115,608,912Net Assets 2021: $19,151,8992021Assets 2024: $138,301,818Liabilities 2024: $120,824,520Net Assets 2024: $17,477,2982024

Highlighted filing

2024

Assets$138,301,818
Liabilities$120,824,520
Net Assets$17,477,298

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0Expenses 2011: $3,492,6162011Expenses 2012: $2,934,0632012Revenue 2014: $3,250,179Expenses 2014: $2,727,667Net Income 2014: $522,5122014Revenue 2015: $3,213,997Expenses 2015: $2,653,695Net Income 2015: $560,3022015Revenue 2016: $3,310,002Expenses 2016: $2,784,387Net Income 2016: $525,6152016Revenue 2017: $3,515,411Expenses 2017: $2,626,317Net Income 2017: $889,0942017Revenue 2018: $3,854,928Expenses 2018: $2,929,001Net Income 2018: $925,9272018Revenue 2019: $4,063,791Expenses 2019: $3,469,904Net Income 2019: $593,8872019Revenue 2020: $3,830,608Expenses 2020: $3,543,272Net Income 2020: $287,3362020Revenue 2021: $3,611,021Expenses 2021: $3,266,232Net Income 2021: $344,7892021Revenue 2024: $5,536,855Expenses 2024: $5,221,574Net Income 2024: $315,2812024

Highlighted filing

2024

Revenue$5,536,855
Expenses$5,221,574
Net Income$315,281

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$138$121$17.5$5.54$5.22$0.32
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$135$116$19.2$3.61$3.27$0.34
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$127$107$20.1$3.83$3.54$0.29
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$117$97.5$19.4$4.06$3.47$0.59
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$116$98.3$17.6$3.85$2.93$0.93
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$119$101$17.2$3.52$2.63$0.89
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$122$105$16.5$3.31$2.78$0.53
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$125$109$15.9$3.21$2.65$0.56
2014Detailed filing. Detailed filing data is available for this year.$127$112$15.3$3.25$2.73$0.52
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$131$116$14.9$2.93
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$127$113$14.4$3.49
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 25, 2025
Return Version
2024v5.0
Gross Receipts
$5,536,855
Mission and Program Overview

Mission

1st ed credit union is a member-owned financial institution, serving school employees and their families in adams, cumberland, franklin, fulton, and york counties. Our purpose is to provide members with quality and diverse services, as well as personal attention to their financial needs. We strive for continued growth while maintaining financial stability.

Credit unions are cooperative savings and credit associations incorporated under act no. 260 of may 26, 1993 or act no. 283 of september 20, 1961, for the purpose of promoting thrift amoung its members, creating a source of credit for such members at reasonable rates of interest and providing an opportunity for its members to use and control their own money on a democratic basis in order to improve their ecomonic and social conditions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$68,369,906$74,612,934▲ $6,243,028
Other Notes and Loans Receivable, Net$50,824,886$47,434,409▼ $3,390,477
Rtn Earn Endowment Incm Other Fnds$14,188,609$16,052,918▲ $1,864,309
Savings and Temporary Cash Investments$8,000,628$11,495,109▲ $3,494,481
Land, Buildings, and Equipment, Net$1,564,255$1,686,405▲ $122,150
Cap Stk Tr Prin Current Funds$1,424,380$1,424,380→ $0
Cash and Non-Interest-Bearing Accounts$705,345$574,210▼ $131,135
Prepaid Expenses and Deferred Charges$203,046$188,006▼ $15,040
Accounts Receivable$154,290$125,966▼ $28,324
Total Assets$131,926,990$138,301,818▲ $6,374,828
Other Assets Total$2,104,634$2,184,779▲ $80,145
Liabilities
Accounts Payable and Accrued Expenses$115,095,815$119,480,549▲ $4,384,734
Other Liabilities$1,218,186$1,343,971▲ $125,785
Total Liabilities$116,314,001$120,824,520▲ $4,510,519
Net Assets / Fund Balance
Total Net Assets Fund Balance$15,612,989$17,477,298▲ $1,864,309
Total Liabilities and Net Assets / Fund Balance$131,926,990$138,301,818▲ $6,374,828

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$817,806$711,623$1,529,429
Equipment$394,565$563,487$958,052
Leasehold Improvements$325,305$459,983$785,288
Land$148,729-$148,729
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kelly DaughertyCEOFT$118,140$118,140
-COOFT$96,378$96,378

Board Members and Trustees

NameTitle
Roy JohnstonPresident
Brian CampbellBoard Member
Bryan HawbeckerBoard Member
Dixie ParuchBoard Member
Robin HarmonBoard Member
Alan EstesSecretary/tr
Aj YohnSupervisory
Carolyn FaithSupervisory
Thomas HoffmanSupervisory
Deborah WestoverVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,714,467
Investment Income
$2,233,442
Other Revenue
$588,946
Change in Net Assets
$315,281
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,591,991
Salaries, Compensation, and Employee Benefits$1,629,583
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$1,887,650
Other Salaries and Wages---$1,020,524
Information Technology---$465,065
Other Employee Benefits---$251,258
Occupancy---$217,880
Current Officers, Directors, Trustees, and Key Employees---$214,518
Advertising---$167,318
Depreciation Depletion---$101,299
Payroll Taxes---$93,479
Fees for Services Accounting---$59,994
Pension Plan Contributions---$49,804
Insurance---$45,788
Other Expenses---$45,681
All Other Expenses---$45,433
Office Expenses---$19,679
Travel---$9,700
Conferences and Meetings---$613
Fees for Services Legal---$355
Total Functional Expenses$0$0$0$5,221,574
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liabilities$618,403
Miscellaneous Accounts Payable$347,719
Outstanding Checks$234,394
Accrued Expenses$140,751
Payroll Taxes Payable$2,704
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

The membership of 1st ed credit union is limited to employees and students of the school districts in the counties of franklin, fulton, adams and cumberland (except west shore, camp hill, east pennsboro, mechanicsburg, and cumberland valley); lincoln intermediate unit 12 employees employed and students attending in adams, franklin, and york counties; teachers employed by the commonwealth of pennsylvania in those counties; associations of such members; employees of the credit union; other occupational and associational groups as provided by law and with the prior written approval of the department of banking; and members of their immediate families.

Form 990, Page 6, Part VI, Line 7A

The organization's members have the ability to elect members of the governing body at the organization's annual meeting.

Form 990, Page 6, Part VI, Line 7B

The organization's members have the ability to vote on any changes made to the organization's bylaws and articles of incorporation at the annual meeting or special meeting called by the board of directors.

Form 990, Page 6, Part VI, Line 11B

The form 990 is reviewed by the ceo and the accounting manager before being passed on to the governing board. The governing body then reviews the form 990 before the form is filed.

Form 990, Page 6, Part VI, Line 12C

The credit union's board members are required to abstain from voting whenever a conflict of interest could arise.

Form 990, Page 6, Part VI, Line 15A

The organization's top management offical's compensation is determined using a survey of industry standards, guided by asset size and number of full time employees.

Form 990, Page 6, Part VI, Line 15B

The employee's senior manager determines compensation using a survey of industry standards and the governing body then approves the recommended compensation.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request. The organization's form 990 is also available to the public through www.guidestar.org.

Filing and Contact Details

Filer

Filer Name
1st Ed Credit Union
EIN
23-6274650
Phone
7172646506
Address
1156 KENNEBEC DRIVE, CHAMBERSBURG, PA 17201

Signing Officer

Name
Kelly Childress
Title
CEO
Phone
7172646506
Signed
2025-04-25
Discuss with paid preparer
Yes

Organization Details

Formed
1933
Legal Domicile
Pa
Voting Board Members
7
Independent Board Members
7
Employees
34
Volunteers
10

Preparer

Firm
Smith Elliott Kearns & Company LLC
Address
804 WAYNE AVE, CHAMBERSBURG, PA 17201-3810
Preparer
Gary D Snyder CPA
Phone
7172633910
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

1st ed credit union is a member-owned financial institution, serving school employees and their families in adams, cumberland, franklin, fulton, and york counties. Our purpose is to provide members with quality and diverse services, as well as personal attention to their financial needs. We strive for continued growth while maintaining financial stability.

Raw XML Appendix397 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt01ST ED CREDIT UNION IS A MEMBER-OWNED FINANCIAL INSTITUTION, SERVING SCHOOL EMPLOYEES AND THEIR FAMILIES IN ADAMS, CUMBERLAND, FRANKLIN, FULTON, AND YORK COUNTIES. OUR PURPOSE IS TO PROVIDE MEMBERS WITH QUALITY AND DIVERSE SERVICES, AS WELL AS PERSONAL ATTENTION TO THEIR FINANCIAL NEEDS. WE STRIVE FOR CONTINUED GROWTH WHILE MAINTAINING FINANCIAL STABILITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERSHIP OF 1ST ED CREDIT UNION IS LIMITED TO EMPLOYEES AND STUDENTS OF THE SCHOOL DISTRICTS IN THE COUNTIES OF FRANKLIN, FULTON, ADAMS AND CUMBERLAND (EXCEPT WEST SHORE, CAMP HILL, EAST PENNSBORO, MECHANICSBURG, AND CUMBERLAND VALLEY); LINCOLN INTERMEDIATE UNIT 12 EMPLOYEES EMPLOYED AND STUDENTS ATTENDING IN ADAMS, FRANKLIN, AND YORK COUNTIES; TEACHERS EMPLOYED BY THE COMMONWEALTH OF PENNSYLVANIA IN THOSE COUNTIES; ASSOCIATIONS OF SUCH MEMBERS; EMPLOYEES OF THE CREDIT UNION; OTHER OCCUPATIONAL AND ASSOCIATIONAL GROUPS AS PROVIDED BY LAW AND WITH THE PRIOR WRITTEN APPROVAL OF THE DEPARTMENT OF BANKING; AND MEMBERS OF THEIR IMMEDIATE FAMILIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S MEMBERS HAVE THE ABILITY TO ELECT MEMBERS OF THE GOVERNING BODY AT THE ORGANIZATION'S ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S MEMBERS HAVE THE ABILITY TO VOTE ON ANY CHANGES MADE TO THE ORGANIZATION'S BYLAWS AND ARTICLES OF INCORPORATION AT THE ANNUAL MEETING OR SPECIAL MEETING CALLED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 IS REVIEWED BY THE CEO AND THE ACCOUNTING MANAGER BEFORE BEING PASSED ON TO THE GOVERNING BOARD. THE GOVERNING BODY THEN REVIEWS THE FORM 990 BEFORE THE FORM IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CREDIT UNION'S BOARD MEMBERS ARE REQUIRED TO ABSTAIN FROM VOTING WHENEVER A CONFLICT OF INTEREST COULD ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION'S TOP MANAGEMENT OFFICAL'S COMPENSATION IS DETERMINED USING A SURVEY OF INDUSTRY STANDARDS, GUIDED BY ASSET SIZE AND NUMBER OF FULL TIME EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE EMPLOYEE'S SENIOR MANAGER DETERMINES COMPENSATION USING A SURVEY OF INDUSTRY STANDARDS AND THE GOVERNING BODY THEN APPROVES THE RECOMMENDED COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION'S FORM 990 IS ALSO AVAILABLE TO THE PUBLIC THROUGH WWW.GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/ReturnTs02025-05-02T11:46:23-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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