1st Ed Credit Union

Chambersburg, PAUnknown exempt organizationSince 1933 EIN 23-6274650Revenue $5.8M in FY2025

On file with the IRS1edcu.org1156 Kennebec Drive · Chambersburg, PA

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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.

100¢ of each $1 spent went to programs.
Run by 10 volunteers and 34 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

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FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $422K a year · 9% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$209K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
28 mo
of spending, in cash
Plus $79.1M in investments, Pt X · Ln 11–13
Looks good: 28.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$119.0M
86% of total assets
Concern: liabilities are 86% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.8M
+4% vs prior year
Spent
$5.3M
To programs
100%
Net assets
$19.8M
By yearFY2020–FY2025
Revenue
$5.8M
FY2025▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.8M
FY2021$3.6M
FY2022$4.0M
FY2023$4.6M
FY2024$5.5M
FY2025$5.8M
Expenses
$5.3M
FY2025▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.5M
FY2021$3.3M
FY2022$3.3M
FY2023$4.1M
FY2024$5.2M
FY2025$5.3M
Net assets
$19.8M
FY2025▲ +14%
Tap a bar for its year
Net assets by fiscal year
FY2020$20.1M
FY2021$19.2M
FY2022$13.5M
FY2023$15.6M
FY2024$17.5M
FY2025$19.8M

From the FY2025 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $5.3M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $209K paid to officers and key staff.

Part VII, Section A · reportable compensation
$115,933Pt VII · Sec A
$93,502Pt VII · Sec A
Secretary/Tr
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Supervisory
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Kelly Childress$115,933$118,140$110,757$108,031$107,048$106,574
Kelly Daugherty$93,502$96,378$87,043$84,933$84,084$83,200

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promote member savings, provide affordable credit, and empower democratic control of money for economic improvement.

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Provided by the organization

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1 program · $5.3M · in their own filed words · FY2025
01

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.

$5.3Mprogram expense

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$5.8M
Ln 12
Investment incomeLn 3$2.7M
Fees for servicesLn 2g$2.5M
Other incomeLn 4–11$545K
Money outPt IX
$5.3M
Ln 25
Programscol B$5.3M
Owns and owesPt X
$19.8M
net assets · Ln 32
Cash and savingsLn 1–2$12.4M
Total assetsLn 16$138.8M
LiabilitiesLn 26$119.0M
PeoplePt VI, VII
12
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$2.5M
Investment incomeLn 3$2.7M
Other incomeLn 4–11$545K
Total revenueLn 12$5.8M
Assets in detailPt X, end of year
CashLn 1$711K
SavingsLn 2$11.7M
Cash and savings togetherLn 1–2$12.4M
InvestmentsLn 11–13$79.1M
Land, buildings, equipmentLn 10c$1.5M
Other assetsLn 15$2.2M
Total assetsLn 16$138.8M
LiabilitiesLn 26$119.0M
Net assetsLn 32$19.8M
OperationsPt I, VI
EmployeesI 534
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$12.1M$12.4M
InvestmentsLn 11–13$74.6M$79.1M
Land, buildings, equipmentLn 10c$1.7M$1.5M
Total assetsLn 16$138.3M$138.8M
LiabilitiesLn 26$120.8M$119.0M
Net assetsLn 32$17.5M$19.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$209K
Other salaries and wagesLn 7$1.1M
Pension plan contributionsLn 8$56K
Other employee benefitsLn 9$267K
Payroll taxesLn 10$94K
Accounting feesLn 11c$60K
Advertising and promotionLn 12$173K
Office expensesLn 13$14K
Information technologyLn 14$418K
OccupancyLn 16$221K
TravelLn 17$17K
Conferences, conventions and meetingsLn 19$2K
InterestLn 20$1.9M
Depreciation, depletion and amortizationLn 22$119K
InsuranceLn 23$45K
Other expenses (24a–d)Ln 24$549K
All other expensesLn 24e$81K
Total functional expensesLn 25$5.3M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $5.8M$5.3M$492K$19.8M 990 PDF
FY2024 $5.5M$5.2M$315K$17.5M 990 PDF
FY2023 $4.6M$4.1M$440K$15.6M 990 PDF
FY2022 $4.0M$3.3M$655K$13.5M 990 PDF
FY2021 $3.6M$3.3M$345K$19.2M 990 PDF
FY2020 $3.8M$3.5M$287K$20.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $5,780,221 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $2,714,467$2,538,957
I-10 Investment incomePrior year $2,233,442$2,695,796
I-11 Other revenuePrior year $588,946$545,468
I-12 Total revenuePrior year $5,536,855$5,780,221
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,629,583$1,685,323
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,591,991$3,602,409
I-18 Total expensesPrior year $5,221,574$5,287,732
I-19 Revenue less expensesPrior year $315,281$492,489
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $5,780,221 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,538,957$2,538,957
VIII-3 Investment incomeExcluded from tax $2,695,796$2,695,796
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $545,468$545,468
VIII-12 Total revenueRelated to mission $3,084,425 · Excluded from tax $2,695,796$5,780,221
Part IX · Statement of functional expenses $5,287,732 across 17 lines filed
IX-5 Pay of current officers, directors and key staff$209,435
IX-7 Other salaries and wages$1,058,832
IX-8 Pension plan contributions$55,717
IX-9 Other employee benefits$267,053
IX-10 Payroll taxes$94,286
IX-11c Accounting fees$59,820
IX-12 Advertising and promotion$172,504
IX-13 Office expenses$14,051
IX-14 Information technology$417,534
IX-16 Occupancy$220,703
IX-17 Travel$17,081
IX-19 Conferences, conventions and meetings$1,500
IX-20 Interest$1,904,564
IX-22 Depreciation, depletion and amortization$118,567
IX-23 Insurance$45,308
IX-24 Other expenses (24a–d)$549,370
IX-24e All other expenses$81,407
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$5,287,732
Part X · Balance sheet $138,841,584 assets, 13 lines filed
Asset lines not itemized here account for $43,242,312; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $574,210$710,795
X-2 Savings and temporary cash investmentsStart of year $11,495,109$11,682,429
X-4 Accounts receivableStart of year $125,966$206,080
X-9 Prepaid expenses and deferred chargesStart of year $188,006$259,838
X-10c Land, buildings and equipment, netStart of year $1,686,405$1,514,651
X-11 Publicly traded securitiesStart of year $74,612,934$79,058,991
X-15 Other assetsStart of year $2,184,779$2,166,488
X-16 Total assetsStart of year $138,301,818$138,841,584
X-17 Accounts payable and accrued expensesStart of year $119,480,549$118,051,856
X-25 Other liabilitiesStart of year $1,343,971$942,142
X-26 Total liabilitiesStart of year $120,824,520$118,993,998
X-32 Total net assets or fund balancesStart of year $17,477,298$19,847,586
X-33 Total liabilities and net assetsStart of year $138,301,818$138,841,584
Part XI · Reconciliation of net assets $19,847,586 net assets at year end
XI-1 Total revenue$5,780,221
XI-2 Total expenses$5,287,732
XI-3 Revenue less expenses$492,489
XI-4 Net assets at start of year$17,477,298
XI-5 Net unrealized gains (losses) on investments$1,877,799
XI-10 Net assets at end of year$19,847,586

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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