Totals
- Total revenue
- $39,847,189
- Total expenses
- $41,557,873
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $27,162,583
- Investment income
- $1,481,482
- Other revenue
- $11,203,124
- Total assets, end of year
- $467,761,389
- Total liabilities, end of year
- $415,479,953
- Net assets or fund balances, end of year
- $52,281,436
- Program services expenses (Part IX)
- $41,557,873
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: Interest from Members
total $27,162,583 · unrelated business $0 · excluded $0
-
3 · Investment income
total $1,481,482 · unrelated business $0 · excluded $0
-
11a · Other revenue: Fee Income
total $8,830,024 · related or exempt $8,830,024 · unrelated business $0 · excluded $0
-
11b · Other revenue: Other Revenue
total $2,373,100 · related or exempt $2,266,885 · unrelated business $106,215 · excluded $0
-
11e · Other revenue, total
$11,203,124
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $2,523,288 · program services $2,523,288 · management and general $0 · fundraising $0
-
7 · Other salaries and wages
total $8,060,854 · program services $8,060,854 · management and general $0 · fundraising $0
-
8 · Pension plan contributions
total $962,204 · program services $962,204 · management and general $0 · fundraising $0
-
9 · Other employee benefits
total $1,841,198 · program services $1,841,198 · management and general $0 · fundraising $0
-
10 · Payroll taxes
total $802,405 · program services $802,405 · management and general $0 · fundraising $0
-
11b · Fees: legal
total $13,314 · program services $13,314 · management and general $0 · fundraising $0
-
11c · Fees: accounting
total $123,393 · program services $123,393 · management and general $0 · fundraising $0
-
11g · Fees: other
total $1,615,324 · program services $1,615,324 · management and general $0 · fundraising $0
-
12 · Advertising and promotion
total $1,022,091 · program services $1,022,091 · management and general $0 · fundraising $0
-
13 · Office expenses
total $5,781,951 · program services $5,781,951 · management and general $0 · fundraising $0
-
16 · Occupancy
total $886,013 · program services $886,013 · management and general $0 · fundraising $0
-
19 · Conferences, conventions and meetings
total $264,004 · program services $264,004 · management and general $0 · fundraising $0
-
20 · Interest
total $808,241 · program services $808,241 · management and general $0 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $1,670,189 · program services $1,670,189 · management and general $0 · fundraising $0
-
23 · Insurance
total $206,735 · program services $206,735 · management and general $0 · fundraising $0
-
24a · Other expenses: Dues
total $103,660 · program services $103,660 · management and general $0 · fundraising $0
-
24b · Other expenses: Loan Servicing
total $1,507,457 · program services $1,507,457 · management and general $0 · fundraising $0
-
24c · Other expenses: Provision for Loan Loss
total $4,219,559 · program services $4,219,559 · management and general $0 · fundraising $0
-
24d · Other expenses: Dividends Paid
total $8,747,910 · program services $8,747,910 · management and general $0 · fundraising $0
-
24e · All other expenses
total $398,083 · program services $398,083 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $4,102,945 · end of year $3,012,420
-
2 · Savings and temporary cash investments
beginning of year $25,397,647 · end of year $16,541,625
-
5 · Loans and receivables from officers and key people
beginning of year $1,196,590 · end of year $1,449,515
-
7 · Other notes and loans receivable
beginning of year $376,032,597 · end of year $379,545,655
-
9 · Prepaid expenses and deferred charges
beginning of year $1,807,176 · end of year $1,995,155
-
10a · Land, buildings and equipment: cost or other basis
$37,733,931
-
10b · Land, buildings and equipment: accumulated depreciation
$13,276,875
-
10c · Land, buildings and equipment, net
beginning of year $24,036,904 · end of year $24,457,056
-
11 · Investments: publicly traded securities
beginning of year $17,510,155 · end of year $16,041,950
-
12 · Investments: other securities
beginning of year $5,977,600 · end of year $1,973,900
-
15 · Other assets
beginning of year $21,730,995 · end of year $22,744,113
-
17 · Accounts payable and accrued expenses
beginning of year $9,588,773 · end of year $10,723,822
-
24 · Unsecured notes and loans payable
beginning of year $25,000,000 · end of year $25,300,000
-
25 · Other liabilities
beginning of year $388,576,567 · end of year $379,456,131
-
31 · Retained earnings, endowment or other funds
beginning of year $54,627,269 · end of year $52,281,436
Mission and programs · 2024
Mission
To be the preferred financial services provider for our membership
-
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
As filed on the 2024 return.
Listed in Part VII
-
Linda Purdy
Chairman
- Total calculated
- $0
- Hours/week
- 1
-
Steve West
Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Quince Cogburn
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Bionca Tomlinson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Jimmy Marrs
Director
- Total calculated
- $0
- Hours/week
- 1
-
Kent Hargis
Director
- Total calculated
- $0
- Hours/week
- 1
-
Cody Myers
Director
- Total calculated
- $0
- Hours/week
- 1
-
Duane Chapman
Director
- Total calculated
- $0
- Hours/week
- 1
-
Daniel Coward
Director
- Total calculated
- $0
- Hours/week
- 1
-
Marcus Smith
CEO
- Total calculated
- $682,756
- From this org
- $630,192
- From related orgs
- $0
- Other
- $52,564
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $417,640
- Bonus
- $212,552
- Other
- $0
- Deferred
- $34,500
- Nontaxable benefits
- $18,065
- Filer's total
- $682,757
-
Claudia Burkett
Executive VP
- Total calculated
- $463,421
- From this org
- $421,238
- From related orgs
- $0
- Other
- $42,183
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $217,000
- Bonus
- $204,238
- Other
- $0
- Deferred
- $34,500
- Nontaxable benefits
- $7,683
- Filer's total
- $463,421
-
Jen Ufford
Compliance Officer
- Total calculated
- $187,501
- From this org
- $162,247
- From related orgs
- $0
- Other
- $25,254
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $151,617
- Bonus
- $10,630
- Other
- $0
- Deferred
- $16,114
- Nontaxable benefits
- $9,140
- Filer's total
- $187,501
-
Mark Snyder
Director
- Total calculated
- $0
- Hours/week
- 1
-
Adrian Aleandre
SVP of Lending
- Total calculated
- $206,859
- From this org
- $180,188
- From related orgs
- $0
- Other
- $26,671
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $174,997
- Bonus
- $5,191
- Other
- $0
- Deferred
- $17,944
- Nontaxable benefits
- $8,727
- Filer's total
- $206,859
-
Amy Hamilton
VP Lending
- Total calculated
- $183,648
- From this org
- $159,632
- From related orgs
- $0
- Other
- $24,016
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $143,318
- Bonus
- $16,314
- Other
- $0
- Deferred
- $15,725
- Nontaxable benefits
- $8,291
- Filer's total
- $183,648
-
Bradley Herbert
SVP of IT
- Total calculated
- $181,612
- From this org
- $163,314
- From related orgs
- $0
- Other
- $18,298
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $149,724
- Bonus
- $13,590
- Other
- $0
- Deferred
- $9,839
- Nontaxable benefits
- $8,459
- Filer's total
- $181,612
-
William Glass
COO
- Total calculated
- $245,471
- From this org
- $215,252
- From related orgs
- $0
- Other
- $30,219
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $192,886
- Bonus
- $22,366
- Other
- $0
- Deferred
- $21,430
- Nontaxable benefits
- $8,789
- Filer's total
- $245,471
-
Johnny Harris
SVP of Learning & Dev.
- Total calculated
- $151,350
- From this org
- $129,450
- From related orgs
- $0
- Other
- $21,900
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $119,646
- Bonus
- $9,804
- Other
- $0
- Deferred
- $12,841
- Nontaxable benefits
- $9,059
- Filer's total
- $151,350
-
Elizabeth Ashe
VP of Special Projects
- Total calculated
- $142,644
- From this org
- $121,576
- From related orgs
- $0
- Other
- $21,068
- Hours/week
- 40
-
Joseph Cowden
Director of IT
- Total calculated
- $136,690
- From this org
- $116,538
- From related orgs
- $0
- Other
- $20,152
- Hours/week
- 40
-
Melissa Gutierrez
Director Retail Operations
- Total calculated
- $133,916
- From this org
- $113,585
- From related orgs
- $0
- Other
- $20,331
- Hours/week
- 40
-
Brittnie Aguirre
Mortgage Manager
- Total calculated
- $129,825
- From this org
- $110,016
- From related orgs
- $0
- Other
- $19,809
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- Pt I Line 4b
- Eric Jenkins,Claudia Burkett, and Marcus Smith participate in a SERP retirement plan
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 24 April 2025
- IRS schema version
- 2024v5.1
- Source object
- 202511339349305451
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