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Nonprofit · EIN 74-1129327

EDUCATORS CREDIT UNION

Tax-exempt · WACO, TX 76710

Financials

$27M$15.1M2025
Revenue Expenses · by fiscal year end
Financials of EDUCATORS CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990$27,008,763$15,138,990$11,869,773$594,816,789$477,943,324$116,873,465
Financial details: 990 for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$2,152,227
Investment income
$24,828,068
Other revenue
$28,468

Expenses

Grants and similar amounts paid
$12,000
Compensation of officers, directors and key employees
$1,227,476
Other salaries and wages
$2,375,819
Salaries, compensation and benefits (total)
$4,631,297
Professional fundraising fees
$0
Legal fees
$328,891
Accounting fees
$84,487
Occupancy
$406,352
Travel
$85,880
Depreciation
$130,640

Balance sheet and other

Total assets, start of year
$549,328,667
Total assets, end of year
$594,816,789
Total liabilities, end of year
$477,943,324
Net assets, end of year
$116,873,465
Land, buildings and equipment
$4,253,918
Publicly traded securities
$399,144,174
Gross unrelated business income
$52,000
Gross receipts
$27,008,763
Employees
59
Volunteers
0
Year formed
1938
State of legal domicile
TX

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2025, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
WILLIAM PALASOTAPRESIDENT
Officer
40$491,019$76,983
SHARON SCHROEDERV.P. ACCOUNTING
Key employee
40$378,123$59,780
RYAN GONZALESIT DIRECTOR
Highest-paid employee
40$193,568$37,237
MONICA KRENEKV.P. LENDING
Key employee
40$164,766$33,493
RACHEL E KUEHLMARKETING DIRECTOR
Highest-paid employee
40$151,444$31,761
AL POLLARDCHAIRMAN
Trustee or director, Officer
1$0$0
CONNIE WEDEMEYERVICE CHAIRMAN
Trustee or director, Officer
1$0$0
HAZEL ROWESECRETARY
Trustee or director, Officer
1$0$0
AIMEE SHELTONDIRECTOR
Trustee or director
1$0$0
STAN MITCHELLDIRECTOR
Trustee or director
1$0$0
ANGELO OCHOADIRECTOR
Trustee or director
1$0$0
JEREMIAH BLANDDIRECTOR
Trustee or director
1$0$0

Address and contacts

Address (IRS master file)
501 W STATE HIGHWAY 6, WACO, TX 76710-5589
Principal officer (990 for 2025)
WILLIAM PALASOTA, 501 W STATE HWY 6, WACO, TX 76712
Signed the 990
WILLIAM PALASOTA, PRESIDENT
Phone
(254) 776-7900
Return prepared by
PATTILLO BROWN & HILL LLP

Mission

EDUCATORS CREDIT UNION IS COMMITTED TO PROVIDING SOUND FINANCIAL SERVICES, WHICH ARE BENEFICIAL TO THE MEMBER OWNER. THE CREDIT UNION WILL ACCOMPLISH THIS IN A CARING AND PROFESSIONAL MANNER.

990 for the year ended December 31, 2025

Program accomplishments

  • THE LARGEST CREDIT UNION IN CENTRAL TEXAS, EDUCATORS CREDIT UNION MEETS THE FINANCIAL NEEDS OF ITS MEMBERS BY PROVIDING A WIDE VARIETY OF SERVICES AT COMPETITIVE RATES IN SEVEN CONVENIENT LOCATIONS. THE CREDIT UNION SERVES MORE THAN 36,000 MEMBERS WHO LIVE, WORK, OR ATTEND SCHOOL IN THE TEXAS COUNTIES OF MCLENNAN, BOSQUE, BELL, LIMESTONE, FALLS, HAMILTON, HILL, CORYELL, AND LAMPASSAS.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990 on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
74-1129327
Tax-exempt status
501(c)(14): State-chartered credit union
Donations deductible
No
Exempt since
1976
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$594,816,789
Income (IRS master file)
$27,008,763

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2025–––IRS
990December 2024–––IRS
990December 2023$21,701,233$12,428,857$547,594,494IRS
990December 2022$14,604,226$8,559,807$537,751,416IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––IRS

990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.

Questions about EDUCATORS CREDIT UNION

What is the EIN of EDUCATORS CREDIT UNION?
The employer identification number (EIN) of EDUCATORS CREDIT UNION is 74-1129327.
Is EDUCATORS CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1976.
Are donations to EDUCATORS CREDIT UNION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does EDUCATORS CREDIT UNION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of EDUCATORS CREDIT UNION due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did EDUCATORS CREDIT UNION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2025.
Who is the principal officer of EDUCATORS CREDIT UNION?
The 990 for the year ended December 31, 2025 names WILLIAM PALASOTA.
Who are the officers and directors of EDUCATORS CREDIT UNION?
The 990 for the year ended December 31, 2025 lists 12 people; 5 received compensation from the organization, the highest $491,019 (WILLIAM PALASOTA, PRESIDENT).
How much revenue does EDUCATORS CREDIT UNION have?
On its 990 for the year ended December 31, 2025 it reported revenue of $27,008,763, expenses of $15,138,990 and total assets of $594,816,789 at year end.

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