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.
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
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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.
Overall | |
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NCUA # | 24866 |
Year Chartered | 2015 |
Employees | 6 |
Primary Regulator |
Profit Margin | |
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Return on Assets - YTD | 0.3% |
Return on Equity - YTD | 2.4% |
Annual Interest Income | $362K |
Assets and Liabilities | ||
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Assets | Q1 2025vs Q1 2024 | $23.2MM$25.5MM |
Loans | Q1 2025vs Q1 2024 | $12.3MM$12.4MM |
Deposits | Q1 2025vs Q1 2024 | $19.7MM$22.1MM |
Equity Capital | Q1 2025vs Q1 2024 | $3.2MM$3.2MM |
Loan Loss Allowance | Q1 2025vs Q1 2024 | $148K$154K |
Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $67K$52K |
Real Estate Owned | Q1 2025vs Q1 2024 | $0$70K |
Sorry, we do not have rate data for ELCA Federal Credit Union.
ELCA Federal Credit Union Locations | ||
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Corporate Office | 8765 W Higgins Rd Suite 675 | Chicago, IL 60631 |