Educators Credit Union EIN 39-0555293

Educators Credit Union

EIN  39-0555293 Unknown exempt organization Mt Pleasant, WI Founded 1937
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Size
$100M+
What they do
Educates and advises people to earn their loyalty and help them succeed.
Leadership
Linda Hoover · CEO & President · $768K
Money in and out
$231.7M revenue, $194.5M expenses
Bottom line
+16% surplus margin

Educates and advises people to earn their loyalty and help them succeed. For fiscal year 2024 it reported $231.7M in revenue, $194.5M in expenses, and $365.0M in net assets.Pt I

Reported financial activity · FY2024
Total revenue
$231.7M
Pt VIII · Ln 12
Total expenses
$194.5M
Pt IX · Ln 25
Net assets
$365.0M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $37.2M
Surplus margin
+16%
revenue over expenses, this year▼ -19% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$231.7M
FY2024▲ +5%
Expenses
$194.5M
FY2024▲ +10%
Total assets
$3.4B
FY2024▲ +6%
Total liabilities
$3.0B
FY2024▲ +5%
Total revenue
$231.7M
Pt VIII · Ln 12
Total expenses
$194.5M
Pt IX · Ln 25
Net assets
$365.0M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$37.2M
Total assetsPt X · Ln 16$3.4B
Program-expense ratioPt IX · col B
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 413
Mission & Programs · Part III

Where the work happens

3 program services, described in the organization's own filed words · FY2024.
01

Educators credit union provides very competitive rates on saving, checking, CDS, iras, and money market accounts with balances over $2.98 billion. Educators the credit union gave back over $5.2 million dollars back to our loyal members through our member loyalty program.

Pt IX · col B
02

We have over 232,000 members and focus on educating them in our branches as well as through community activities. Educators gave back more than $795,000 back to the communities in which we serve. Educators credit union also awarded a total of $70,000 to 35 school students to help offset the cost of higher education.

Pt IX · col B
03

Educators credit union provides business and consumer loans and leases. Current loan portfolio is over $2.35 billion. Educators offers educational seminars to help inform its membership and tools to help make large purchases, such as home and autos.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CEducators Credit Union
EINHdr · item D39-0555293
Principal addressHdr · item CMt Pleasant, WI
WebsiteHdr · item Jwww.ecu.com
Year of formationHdr · item L1937
State of legal domicileHdr · item MWI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFpending

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a13
Independent voting membersPt VI · Ln 1b13
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
CEO & President
$767,522Pt VII · Sec A
$320,992Pt VII · Sec A
$299,840Pt VII · Sec A
VP Facilities
$253,490Pt VII · Sec A
Chief Experience Officer
$227,740Pt VII · Sec A
Corporate Counsel/Chief Risk Officer
$225,014Pt VII · Sec A
Chief Payment Officer
$193,055Pt VII · Sec A
Chief Lending Officer
$192,777Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Linda Hoover$767,522$725,266$662,722$603,167$611,559
James Justman$320,992$293,189$275,905$177,306
Kurt Johnson$300,138$284,584$286,434$289,260
Joseph Brazgel$299,840$262,874$248,551$196,037
Glenn Brusky$253,490$169,996$165,434
Michael Mikkelson$244,795$253,427
Shannon Huot$227,740$217,833$206,857$191,497$180,805
Rich Chiapete$225,014$190,637$172,938

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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Statement of Revenue

Part VIII
Program service revenue$173.3M · 75%
Investment income$56.1M · 24%
Other revenue$2.3M · 1%
Program service revenue75%$173.3M
Investment income24%$56.1M
Other revenue1%$2.3M
Total revenueLn 12$231.7M

Balance Sheet

Part X · end of year
CashLn 1$300.9M
Total assetsLn 16$3.4B
Total liabilitiesLn 26$3.0B
Total net assetsLn 32$365.0M
Months of cash on handcomputed18.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $925.1M · Operating expenses/yr $194.5M
57.1 months
Where the money goes
Program services
Program services — · Total expenses $194.5M
Management & General
Management & general — · Total expenses $194.5M
Fundraising
Fundraising — · Total expenses $194.5M
Cost to raise $1
Fundraising expense — · Solicited contributions —
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $231.7M
0%
Government reliance
Government grants — · Total revenue $231.7M
Earned-income share
Program service revenue $173.3M · Total revenue $231.7M
75%
Investment reliance
Investment income $56.1M · Total revenue $231.7M
+24%
Program self-sufficiency
Program service revenue $173.3M · Total expenses $194.5M
89%
Growth & trend
Revenue growth (YoY)
This year $231.7M · Prior year $221.5M
+5%
Revenue CAGR
FY2020 $146.7M · FY2024 $231.7M
+12%
Net-asset trend (YoY)
End of year $365.0M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $231.7M · Expenses $194.5M
+16%
Liabilities-to-Assets
Total liabilities — · Total assets $3.4B
Net-asset ratio
Net assets $365.0M · Total assets $3.4B
11%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $586.1M · Other securities (Pt X, ln 12) $38.1M · Total assets (Pt X, ln 16) $3.4B
18%
People & payroll
Highest Reported Total Compensation
Individual Linda Hoover · Reported title CEO & PRESIDENT · Highest reported compensation $768K · Total expenses $194.5M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $46.4M · Total expenses $194.5M
24%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth 5%
Legal fee ratio 0%
Accounting fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 72 grants · $1.8M · 2020–2024
Junior Achievement of WisconsinCO · FY2024$65,000
Racine Zoological SocietyWI · FY2024$50,000
Bobby Portis CharityAR · FY2024$50,000
Housing Resources INCWI · FY2024$15,000
Roc Foundation INCFY2024$14,500
Prohealth Care INCWI · FY2024$13,000
Racinekenosha Community Action AgencyFY2024$10,000
Franklin Public SchoolsFY2024$7,500
Franklin Public SchoolsFY2024$7,500
Junior AchievementCO · FY2023$65,000
See all 72 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$231.7M revenue · viewing · ⤓ 990 PDF
FY2023$221.5M revenue · ⤓ 990 PDF
FY2022$166.8M revenue · ⤓ 990 PDF
FY2021$148.4M revenue · ⤓ 990 PDF
FY2020$146.7M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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