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Overview / Commentary
806-358-7777
4400 W Interstate 40
Amarillo, TX 79106-5940

Education Credit Union is headquartered in Amarillo and is the 76th largest credit union in the state of Texas. It is also the 895th largest credit union in the nation. It was established in 1935 and as of March of 2014, it had grown to 88 employees and 21,381 members. Education Credit Union's savings rates are 54% higher than the national average, and it boasts a A+ health rating.

Field of Membership Restrictions

Must be an employee or student in one of the several selected public, private, parochial schools, colleges and universities. Also open to those who live, work, worship or attend school within 10 miles of the Bushland or Canyon branch. - See Details

Reviews (1)

A Postive Banking Experience

I had checking and savings accounts with the Amarillo Education Credit Union for over ten years. I was always extremely pleased with their service. I was very young when I first started with them, and their rules concerning banking errors like overdrafting were extremely fair. They offer all the services you can expect at a national bank, and their extended services are top notch. They only accept educators and their families.



Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Education Credit Union had $951,000 in non-current loans and owned real-estate with $28.6 million in equity and loan loss allowances on hand to cover it. This gives Education Credit Union a Texas Ratio of 3.33% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Education Credit Union decreased dramatically from 4.86% as of March 31, 2013 to 3.33% as of March 31, 2014, resulting in a positive change of 31.60%.This indicates that the balance sheet and financial strength for Education Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Education Credit Union has increased its total deposits by $20.57 million, resulting in 12.62% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Education Credit Union has shown is excellent.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Education Credit Union has $213.53 million in assets with $28.6 million in equity, resulting in a capitalization level of 13.39%, which is excellent.

Institution Statistics

Overall
NCUA #67494
Year Chartered1935
Employees88
Primary Regulator
Assets and Liabilities
Assets$213.53 million
Loans$160.77 million
Deposits$183.57 million
Equity Capital$27.07 million
Loan Loss Allowance$1.53 million
Unbacked Noncurrent Loans$951,000
Real Estate Owned$0
Historic Data - March 2013
Assets$190.14 million
Equity Capital$24.43 million
Loan Loss Allowance$1.10 million
Unbacked Noncurrent Loans$951,000
Real Estate Owned$31,000
Profit Margin - Quarterly
Net Interest Margin1.69%
Return on Assets0.61%
Return on Equity4.83%
Interest Income$2.79 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Education Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Education Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.80%$10k-Education Savings Account
0.80%$10k-IRA Savings
0.50%$50k-Regular Share Account
0.05%$25-Deposit Savings Account
0.05%--Summer Pay Savings Account

Education Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.65%$100k-Money Market Account

Education Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$2,500-Interest Checking Account

Education Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.55%$10k-60 Month CD - At Maturity
1.50%$10k-48 Month CD - At Maturity
1.45%$10k-60 Month CD - Quarterly
1.45%$10k-36 Month CD - At Maturity
1.40%$10k-48 Month CD - Quarterly
1.35%$10k-60 Month CD - Monthly
1.35%$10k-36 Month CD - Quarterly
1.30%$10k-48 Month CD - Monthly
1.30%$10k-30 Month CD - At Maturity
1.25%$10k-36 Month CD - Monthly
1.20%$10k-30 Month CD - Quarterly
1.10%$10k-30 Month CD - Monthly
1.10%$10k-24 Month CD - At Maturity
1.05%$5k$10k60 Month CD
1.00%$5k$10k48 Month CD
1.00%$10k-24 Month CD - Quarterly
1.00%$10k-18 Month CD - At Maturity
0.95%$5k$10k36 Month CD
0.90%$10k-24 Month CD - Monthly
0.90%$10k-18 Month CD - Quarterly
0.90%$10k-12 Month CD - At Maturity
0.80%$5k$10k30 Month CD
0.80%$10k-18 Month CD - Monthly
0.80%$10k-12 Month CD - Quarterly
0.70%$10k-12 Month CD - Monthly
0.60%$5k$10k24 Month CD
0.50%$5k$10k12 Month CD
0.50%$5k$10k18 Month CD
0.45%$10k-182 Day CD - At Maturity
0.35%$10k-182 Day CD - Quarterly
0.25%$10k-182 Day CD - Monthly
Locations


Education Credit Union Locations
Branch Office4400 W Interstate 40Amarillo, TX 79106-5940
Branch Office2100 4th AveCanyon, TX 79015
Branch Office6201 Hillside RdAmarillo, TX 79109-7193
Branch Office1801 S FM 2381Bushland, TX 79012