Civic Intelligence

Educators Credit Union

990 • Fiscal year 2017 • EIN 74-1129327

Jan 01, 2017 to Dec 31, 2017 • Filed on May 09, 2018

Organization ProfileWWW.EDCU.COM

View Organization Page

501 W State Hwy 6Waco, TX 76712

(254) 776-7900

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

10th percentile

0.84x

Higher debt load relative to assets than 10% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

29.99x

Higher debt load relative to revenue than 99% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2017

Net Margin

90th percentile

25%

Higher net margin than 90% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2017

Top Officer Pay

67th percentile

$499,602

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 4.5% of source-year revenue.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2017

Asset Growth

27th percentile

2.7%

Faster asset growth than 27% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Revenue Growth

32nd percentile

5.7%

Faster revenue growth than 32% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets10th percentile

Assets

Up

$401,271,928

Up $10,566,238 (+2.7%) from 2016

Net Assets

Up

$64,600,468

Up $2,829,944 (+4.6%) from 2016

Liabilities

Up

$336,671,460

Up $7,736,294 (+2.4%) from 2016

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin90th percentile

Revenue

Up

$11,225,421

Up $604,970 (+5.7%) from 2016

Expenses

Up

$8,395,477

Up $112,669 (+1.4%) from 2016

Net Income

Up

$2,829,944

Up $492,301 (+21%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600M$400M$200M$0Assets 2011: $332,195,243Liabilities 2011: $286,127,262Net Assets 2011: $46,067,9812011Assets 2012: $341,514,524Liabilities 2012: $293,203,350Net Assets 2012: $48,311,1742012Assets 2013: $353,634,496Liabilities 2013: $300,990,882Net Assets 2013: $52,643,6142013Assets 2014: $364,033,864Liabilities 2014: $307,705,530Net Assets 2014: $56,328,3342014Assets 2015: $383,386,027Liabilities 2015: $323,953,146Net Assets 2015: $59,432,8812015Assets 2016: $390,705,690Liabilities 2016: $328,935,166Net Assets 2016: $61,770,5242016Assets 2017: $401,271,928Liabilities 2017: $336,671,460Net Assets 2017: $64,600,4682017Assets 2018: $406,585,412Liabilities 2018: $337,820,959Net Assets 2018: $68,764,4532018Assets 2019: $415,310,486Liabilities 2019: $342,073,770Net Assets 2019: $73,236,7162019Assets 2020: $466,926,206Liabilities 2020: $390,402,955Net Assets 2020: $76,523,2512020Assets 2021: $523,380,753Liabilities 2021: $443,640,651Net Assets 2021: $79,740,1022021Assets 2022: $537,751,416Liabilities 2022: $451,966,895Net Assets 2022: $85,784,5212022Assets 2023: $547,594,494Liabilities 2023: $452,537,597Net Assets 2023: $95,056,8972023Assets 2024: $549,328,667Liabilities 2024: $444,324,975Net Assets 2024: $105,003,6922024

Highlighted filing

2017

Assets$401,271,928
Liabilities$336,671,460
Net Assets$64,600,468
Open 2017 Filing

Operations Trend

Revenue Growth32nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0Expenses 2011: $9,363,8632011Expenses 2012: $8,355,2492012Revenue 2013: $11,885,969Expenses 2013: $7,832,756Net Income 2013: $4,053,2132013Revenue 2014: $11,441,788Expenses 2014: $7,757,075Net Income 2014: $3,684,7132014Revenue 2015: $11,101,191Expenses 2015: $7,996,643Net Income 2015: $3,104,5482015Revenue 2016: $10,620,451Expenses 2016: $8,282,808Net Income 2016: $2,337,6432016Revenue 2017: $11,225,421Expenses 2017: $8,395,477Net Income 2017: $2,829,9442017Revenue 2018: $12,675,304Expenses 2018: $8,511,319Net Income 2018: $4,163,9852018Revenue 2019: $13,980,900Expenses 2019: $9,508,637Net Income 2019: $4,472,2632019Revenue 2020: $13,003,577Expenses 2020: $9,717,042Net Income 2020: $3,286,5352020Revenue 2021: $11,564,364Expenses 2021: $8,347,515Net Income 2021: $3,216,8492021Revenue 2022: $14,604,226Expenses 2022: $8,559,807Net Income 2022: $6,044,4192022Revenue 2023: $21,701,233Expenses 2023: $12,428,857Net Income 2023: $9,272,3762023Revenue 2024: $24,524,556Expenses 2024: $14,577,761Net Income 2024: $9,946,7952024

Highlighted filing

2017

Revenue$11,225,421
Expenses$8,395,477
Net Income$2,829,944
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 9, 2018
Return Version
2017v2.2
Gross Receipts
$11,243,421
Mission and Program Overview

Mission

Educators credit union is committed to providing sound financial services, which are beneficial to the member owner. The credit union will accomplish this in a caring and professional manner.

To provide reasonably priced financial services to the members of the organization.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$129,802,580$149,320,813▲ $19,518,233
Other Notes and Loans Receivable, Net$136,018,078$146,234,914▲ $10,216,836
Investments in Publicly Traded Securities$114,303,190$95,482,117▼ $18,821,073
Rtn Earn Endowment Incm Other Fnds$61,770,524$64,600,468▲ $2,829,944
Land, Buildings, and Equipment, Net$5,102,995$4,964,592▼ $138,403
Cash and Non-Interest-Bearing Accounts$1,767,462$2,135,925▲ $368,463
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$390,705,690$401,271,928▲ $10,566,238
Other Assets Total$3,711,385$3,133,567▼ $577,818
Liabilities
Accounts Payable and Accrued Expenses$328,935,166$336,671,460▲ $7,736,294
Total Liabilities$328,935,166$336,671,460▲ $7,736,294
Net Assets / Fund Balance
Total Net Assets Fund Balance$61,770,524$64,600,468▲ $2,829,944
Total Liabilities and Net Assets / Fund Balance$390,705,690$401,271,928▲ $10,566,238

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,758,587$1,633,366$5,391,953
Equipment$99,898$2,265,479$2,365,377
Land$1,106,107-$1,106,107
Compensation and Service Providers
Top Officer Pay67th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joe HutyraCEOFT$414,120$85,482$499,602
William PalasotaCFOFT$216,257$57,145$273,402
Sharon SchroederV.p. AccountingFT$144,185$28,016$172,201
Monica KrenekV.p. LendingFT$121,396$25,053$146,449
Al PollardVice Chairman-$2,987-$2,987
Ben SalmanDirector-$2,561-$2,561
Louis WedemeyerDirector-$2,535-$2,535
Jo Ann BrownSecretary-$2,346-$2,346
Edward HernandezDirector-$2,200-$2,200
Raymond WeldonChairman-$2,084-$2,084

Board Members and Trustees

NameTitle
Hazel RoweDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,067,358
Investment Income
$9,162,521
Other Revenue
$-4,458
Change in Net Assets
$2,829,944
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,291,688
Salaries, Compensation, and Employee Benefits$4,094,789
Grants and Similar Amounts Paid$9,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$2,454,179
Interest---$1,551,608
Current Officers, Directors, Trustees, and Key Employees---$787,718
Information Technology---$655,811
Occupancy---$648,610
Other Employee Benefits---$437,187
Office Expenses---$303,286
Advertising---$226,806
Other Expenses---$224,178
Pension Plan Contributions---$213,446
Fees for Services Legal---$211,751
Payroll Taxes---$202,259
Depreciation Depletion---$182,918
Travel---$143,288
Insurance---$78,432
Fees for Services Accounting---$65,000
Grants to Domestic Individuals---$9,000
Total Functional Expenses$0$0$0$8,395,477
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
Yes
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, Part VI, Section A, Line 6

“The credit union's customers are considered members of the organization.”

Form 990, Part VI, Section A, Line 7A

“The members meet annually in march to elect directors to the open postions on the board. A special nominating committee selects the candidates on which the membership votes. Current bylaws do not allow for nominations from the floor during the annual meeting, but any member of legal age desiring nomination may do so by presenting a petition with 200 signatures of primary account holders to the nominating committee by the specified date in the january newsletter.”

Form 990, Part VI, Section A, Line 7B

“Any governance decisions requiring ratification by the membership are presented at the annual meeting and are voted on by the membership present at that time.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is not provided to the board of directors prior to its filing, but is available for review upon request.”

Form 990, Part VI, Section B, Line 15

“The process for determining compensation of the organization's ceo, cfo, and other key employees includes a review and approval by the board of directors during a regularly scheduled meeting.”

Form 990, Part VI, Section C, Line 19

“The organization posts its financial statements at all branches. The governing documents and policies are available upon request.”

Filing and Contact Details

Filer

Filer Name
Educators Credit Union
EIN
74-1129327
Phone
2547767900
Address
501 W STATE HWY 6, WACO, TX 76712

Signing Officer

Name
William Palasota
Title
CFO
Phone
2547767900
Signed
2018-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joe Hutyra
Formed
1938
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
65
Volunteers
0

Preparer

Firm
Pattillo Brown & Hill Llp
Address
P O BOX 20725, WACO, TX 76702-0725
Preparer
Mike Lucas CPA
Phone
2547724901
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The oversight/selection process has not changed from the prior year.”

Raw XML AppendixShowing 400 of 433 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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IRS990/Desc0THE LARGEST CREDIT UNION IN CENTRAL TEXAS, EDUCATORS CREDIT UNION MEETS THE FINANCIAL NEEDS OF ITS MEMBERS BY PROVIDING A WIDE VARIETY OF SERVICES AT COMPETITIVE RATES IN EIGHT CONVENIENT LOCATIONS. THE CREDIT UNION SERVES MORE THAN 36,000 MEMBERS WHO LIVE, WORK, OR ATTEND SCHOOL IN THE TEXAS COUNTIES OF MCLENNAN, BOSQUE, FALLS, HILL, CORYELL, AND LAMPASSAS.
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IRS990/MissionDesc0EDUCATORS CREDIT UNION IS COMMITTED TO PROVIDING SOUND FINANCIAL SERVICES, WHICH ARE BENEFICIAL TO THE MEMBER OWNER. THE CREDIT UNION WILL ACCOMPLISH THIS IN A CARING AND PROFESSIONAL MANNER.
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IRS990/PrincipalOfficerNm0JOE HUTYRA
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/Desc0MEMBER FEES, ETC
IRS990/ProgramServiceRevenueGrp/Desc1NON MEMBER ATM FEES, MBI & MISC
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02019358
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02019358
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt148000
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt048000
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt09000
IRS990/PYInvestmentIncomeAmt08747713
IRS990/PYOtherExpensesAmt04190547
IRS990/PYOtherRevenueAmt0-10462
IRS990/PYProgramServiceRevenueAmt01883200
IRS990/PYRevenuesLessExpensesAmt02337643
IRS990/PYSalariesCompEmpBnftPaidAmt04083261
IRS990/PYTotalExpensesAmt08282808
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt010620451
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt02829944
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt0-4458
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt061770524
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt064600468
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0129802580
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0149320813
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt03758587
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01633366
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05391953
IRS990ScheduleD/EquipmentGrp/BookValueAmt099898
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02265479
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02365377
IRS990ScheduleD/LandGrp/BookValueAmt01106107
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01106107
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04964592
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt09000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SEVERAL SCHOLARSHIPS ARE AWARDED EACH YEAR TO GRADUATING SENIORS WHO ARE CREDIT UNION MEMBERS OR THE DEPENDENT OF A CREDIT UNION MEMBER. SIX SCHOLARSHIPS OF $1,500 WERE AWARDED IN THE CURRENT YEAR.
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt06
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0216257
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1414120
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2144185
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount05000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount112100
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt028763
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt150000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt218744
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt023382
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt123382
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt29272
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0WILLIAM PALASOTA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JOE HUTYRA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2SHARON SCHROEDER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2V.P. ACCOUNTING
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0273402
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1499602
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt2172201
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt20
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SubstantiationRequiredInd01
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0IT IS CREDIT UNION POLICY TO PAY FOR THE TRAVEL EXPENSES OF THE SPOUSE OF A DIRECTOR OR EMPLOYEE WHILE THE DIRECTOR OR EMPLOYEE IS ON A BUSINESS TRIP.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1JOE HUTYRA - 457B PLAN - $12,787 WILLIAM PALASOTA - 457B PLAN - $6,638
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 1A
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 4B
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd01
IRS990ScheduleJ/TravelForCompanionsInd0X
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION'S CUSTOMERS ARE CONSIDERED MEMBERS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERS MEET ANNUALLY IN MARCH TO ELECT DIRECTORS TO THE OPEN POSTIONS ON THE BOARD. A SPECIAL NOMINATING COMMITTEE SELECTS THE CANDIDATES ON WHICH THE MEMBERSHIP VOTES. CURRENT BYLAWS DO NOT ALLOW FOR NOMINATIONS FROM THE FLOOR DURING THE ANNUAL MEETING, BUT ANY MEMBER OF LEGAL AGE DESIRING NOMINATION MAY DO SO BY PRESENTING A PETITION WITH 200 SIGNATURES OF PRIMARY ACCOUNT HOLDERS TO THE NOMINATING COMMITTEE BY THE SPECIFIED DATE IN THE JANUARY NEWSLETTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANY GOVERNANCE DECISIONS REQUIRING RATIFICATION BY THE MEMBERSHIP ARE PRESENTED AT THE ANNUAL MEETING AND ARE VOTED ON BY THE MEMBERSHIP PRESENT AT THAT TIME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS NOT PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO ITS FILING, BUT IS AVAILABLE FOR REVIEW UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S CEO, CFO, AND OTHER KEY EMPLOYEES INCLUDES A REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS DURING A REGULARLY SCHEDULED MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION POSTS ITS FINANCIAL STATEMENTS AT ALL BRANCHES. THE GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE OVERSIGHT/SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0390705690
IRS990/TotalAssetsEOYAmt0401271928
IRS990/TotalAssetsGrp/BOYAmt0390705690
IRS990/TotalAssetsGrp/EOYAmt0401271928
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt065
IRS990/TotalFunctionalExpensesGrp/TotalAmt08395477
IRS990/TotalGrossUBIAmt043542
IRS990/TotalLiabilitiesBOYAmt0328935166
IRS990/TotalLiabilitiesEOYAmt0336671460
IRS990/TotalLiabilitiesGrp/BOYAmt0328935166
IRS990/TotalLiabilitiesGrp/EOYAmt0336671460
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt061770524
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt064600468
IRS990/TotalOtherCompensationAmt0178596
IRS990/TotalProgramServiceRevenueAmt02067358
IRS990/TotalReportableCompFromOrgAmt0927771
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt011181879
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt011225421
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt043542
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0390705690
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0401271928
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt0143288
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0501 W STATE HWY 6
IRS990/USAddress/CityNm0WACO
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd076712
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.EDCU.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-06-14 16:35:46Z

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$401,271,928
Liabilities
$336,671,460
Net assets
$64,600,468
Revenue
$11,225,421
Expenses
$8,395,477
Net income
$2,829,944
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$549$444$105$24.5$14.6$9.95
2023Detailed filing. Detailed filing data is available for this year.$548$453$95.1$21.7$12.4$9.27
2022Detailed filing. Detailed filing data is available for this year.$538$452$85.8$14.6$8.56$6.04
2021Detailed filing. Detailed filing data is available for this year.$523$444$79.7$11.6$8.35$3.22
2020Detailed filing. Detailed filing data is available for this year.$467$390$76.5$13.0$9.72$3.29
2019Detailed filing. Detailed filing data is available for this year.$415$342$73.2$14.0$9.51$4.47
2018Detailed filing. Detailed filing data is available for this year.$407$338$68.8$12.7$8.51$4.16
2017Detailed filing. Detailed filing data is available for this year.$401$337$64.6$11.2$8.40$2.83
2016Detailed filing. Detailed filing data is available for this year.$391$329$61.8$10.6$8.28$2.34
2015Detailed filing. Detailed filing data is available for this year.$383$324$59.4$11.1$8.00$3.10
2014Detailed filing. Detailed filing data is available for this year.$364$308$56.3$11.4$7.76$3.68
2013Detailed filing. Detailed filing data is available for this year.$354$301$52.6$11.9$7.83$4.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$342$293$48.3$8.36
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$332$286$46.1$9.36