ELCA Federal Credit Union

ELCA Federal Credit Union


Overview / Commentary
877-715-1111
8765 W Higgins Rd Suite 675
Chicago, IL 60631

ELCA Federal Credit Union is headquartered in Chicago and is the 99th largest credit union in the state of Illinois. It is also the 3,108th largest credit union in the nation. It was established in 2015 and as of March of 2025, it had grown to 6 employees and 2,317 members at 1 location. ELCA Federal Credit Union has a B health rating.

Field of Membership Restrictions

The ELCA Federal Credit Union is a separate entity from the ELCA churchwide organization. ELCA sponsorship allows the credit union to serve the members and ministries of the ELCA
See current membership details

Reviews (1)

ELCA Credit Union In Downhill Spiral

The ELCA Federal Credit Union once offered good interest with low fees and good customer service. The fees are still low. Everything has slipped. The interest rates are now well below competitive products. The customer service is much weaker and the credit union, now entirely virtual, is no longer customer-friendly or convenient. There is no support for Zelle. There are substantial delays for large deposits. And when you try to get customer support, you are promised contact that never happens. I finally got fed up and wanted to close my account. The only way to do that was to fill out an online form, after which the credit union promised to contact me. There was no contact. In its arrogance, the ELCA Federal Credit Union closed my account pre-emptively, denying me access to the money that remained, and apparently put a check in the mail. I only found out about this by calling them to ask what happened. There was no apology or even any response to a long letter of complaint that I filed, to the email address provided. This was a people-friendly place that now sadly has lost its concern for customers.



Health
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. ELCA Federal Credit Union has a low asset base.

Health Grade Components

Overall
NCUA #24866
Year Chartered2015
Employees6
Primary Regulator
Profit Margin
Return on Assets - YTD0.3%
Return on Equity - YTD2.4%
Annual Interest Income$362K
Assets and Liabilities
AssetsQ1 2025vs Q1 2024$23.2MM$25.5MM
LoansQ1 2025vs Q1 2024$12.3MM$12.4MM
DepositsQ1 2025vs Q1 2024$19.7MM$22.1MM
Equity CapitalQ1 2025vs Q1 2024$3.2MM$3.2MM
Loan Loss AllowanceQ1 2025vs Q1 2024$148K$154K
Unbacked Noncurrent LoansQ1 2025vs Q1 2024$67K$52K
Real Estate OwnedQ1 2025vs Q1 2024$0$70K
Rates

Sorry, we do not have rate data for ELCA Federal Credit Union.

Locations


ELCA Federal Credit Union Locations
Corporate Office8765 W Higgins Rd Suite 675Chicago, IL 60631

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