Skip to content
Nonprofiteer
← EDUCATION CREDIT UNION

Form 990 for tax year 2025

Filed by EDUCATION CREDIT UNION.

Totals

Total revenue
$43,482,287
Total expenses
$40,355,439
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$27,966,708
Investment income
$4,071,555
Other revenue
$11,444,024
Total assets, end of year
$476,791,783
Total liabilities, end of year
$419,358,449
Net assets or fund balances, end of year
$57,433,334
Program services expenses (Part IX)
$40,355,439
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 $27,966,708 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $4,071,555 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Fee Income

    total $9,491,971 · related or exempt $9,491,971 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Other Revenue

    total $1,952,053 · related or exempt $1,860,946 · unrelated business $91,107 · excluded $0

  • 11e · Other revenue, total

    $11,444,024

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $3,006,142 · program services $3,006,142 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $6,581,930 · program services $6,581,930 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $813,610 · program services $813,610 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $2,143,552 · program services $2,143,552 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $719,995 · program services $719,995 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $11,822 · program services $11,822 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $139,155 · program services $139,155 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $1,682,856 · program services $1,682,856 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $1,077,438 · program services $1,077,438 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $6,084,315 · program services $6,084,315 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $935,590 · program services $935,590 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $204,749 · program services $204,749 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $1,629,059 · program services $1,629,059 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $203,660 · program services $203,660 · management and general $0 · fundraising $0

  • 24a · Other expenses: Dues

    total $87,720 · program services $87,720 · management and general $0 · fundraising $0

  • 24b · Other expenses: Loan Servicing

    total $1,555,675 · program services $1,555,675 · management and general $0 · fundraising $0

  • 24c · Other expenses: Provision for Loan Loss

    total $4,399,682 · program services $4,399,682 · management and general $0 · fundraising $0

  • 24d · Other expenses: Dividends Paid

    total $8,740,479 · program services $8,740,479 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $338,010 · program services $338,010 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,012,420 · end of year $2,407,957

  • 2 · Savings and temporary cash investments

    beginning of year $16,541,625 · end of year $29,713,812

  • 5 · Loans and receivables from officers and key people

    beginning of year $1,449,515 · end of year $1,244,674

  • 7 · Other notes and loans receivable

    beginning of year $379,545,655 · end of year $377,049,931

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,995,155 · end of year $1,886,762

  • 10a · Land, buildings and equipment: cost or other basis

    $37,934,924

  • 10b · Land, buildings and equipment: accumulated depreciation

    $14,880,104

  • 10c · Land, buildings and equipment, net

    beginning of year $24,457,056 · end of year $23,054,820

  • 11 · Investments: publicly traded securities

    beginning of year $16,041,950 · end of year $14,181,298

  • 12 · Investments: other securities

    beginning of year $1,973,900 · end of year $6,735,228

  • 15 · Other assets

    beginning of year $22,744,113 · end of year $20,517,301

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,723,822 · end of year $7,811,188

  • 24 · Unsecured notes and loans payable

    beginning of year $25,300,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $379,456,131 · end of year $411,547,261

  • 31 · Retained earnings, endowment or other funds

    beginning of year $52,281,436 · end of year $57,433,334

Mission and programs · 2025

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 2025 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

  • Mark Snyder

    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
    $977,146
    From this org
    $928,878
    From related orgs
    $0
    Other
    $48,268
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $928,878
    Bonus
    $0
    Other
    $0
    Deferred
    $35,000
    Nontaxable benefits
    $14,288
    Filer's total
    $978,166

  • Claudia Burkett

    President - Canyon

    Total calculated
    $464,149
    From this org
    $432,526
    From related orgs
    $0
    Other
    $31,623
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $432,526
    Bonus
    $0
    Other
    $0
    Deferred
    $25,037
    Nontaxable benefits
    $6,586
    Filer's total
    $464,149

  • Jen Ufford

    SVP Member Exp

    Total calculated
    $180,897
    From this org
    $156,485
    From related orgs
    $0
    Other
    $24,412
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,495
    Bonus
    $0
    Other
    $0
    Deferred
    $15,453
    Nontaxable benefits
    $8,959
    Filer's total
    $180,907

  • Michelle Wilson

    SVP of HR

    Total calculated
    $201,294
    From this org
    $181,916
    From related orgs
    $0
    Other
    $19,378
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $181,916
    Bonus
    $0
    Other
    $0
    Deferred
    $11,792
    Nontaxable benefits
    $7,586
    Filer's total
    $201,294

  • Adrian Aleandre

    SVP of Lending

    Total calculated
    $201,294
    From this org
    $181,916
    From related orgs
    $0
    Other
    $19,378
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,916
    Bonus
    $0
    Other
    $0
    Deferred
    $11,792
    Nontaxable benefits
    $7,586
    Filer's total
    $201,294

  • Amy Hamilton

    VP Lending

    Total calculated
    $174,273
    From this org
    $151,977
    From related orgs
    $0
    Other
    $22,296
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,977
    Bonus
    $0
    Other
    $0
    Deferred
    $14,910
    Nontaxable benefits
    $7,385
    Filer's total
    $174,272

  • Ty Cox

    CFO

    Total calculated
    $199,910
    From this org
    $179,768
    From related orgs
    $0
    Other
    $20,142
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,768
    Bonus
    $0
    Other
    $0
    Deferred
    $11,715
    Nontaxable benefits
    $8,427
    Filer's total
    $199,910

  • William Glass

    COO

    Total calculated
    $233,747
    From this org
    $204,832
    From related orgs
    $0
    Other
    $28,915
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $204,832
    Bonus
    $0
    Other
    $0
    Deferred
    $20,337
    Nontaxable benefits
    $8,578
    Filer's total
    $233,747

  • Johnny Harris

    SVP of Learning & Dev.

    Total calculated
    $144,545
    From this org
    $124,934
    From related orgs
    $0
    Other
    $19,611
    Hours/week
    40

  • Matthew Stuart

    Mortgage Loan Org

    Total calculated
    $143,831
    From this org
    $123,079
    From related orgs
    $0
    Other
    $20,752
    Hours/week
    40

  • Elizabeth Ashe

    VP Special Projects

    Total calculated
    $141,121
    From this org
    $120,232
    From related orgs
    $0
    Other
    $20,889
    Hours/week
    40

  • Joseph Cowden

    Direcor of IT

    Total calculated
    $129,932
    From this org
    $110,459
    From related orgs
    $0
    Other
    $19,473
    Hours/week
    40

  • Brittnie Aguirre

    Mortgage Manager

    Total calculated
    $128,530
    From this org
    $109,140
    From related orgs
    $0
    Other
    $19,390
    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
Marcus Smith participates 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
2025
Filed
11 May 2026
IRS schema version
2025v4.1
Source object
202611359349309956

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.