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Educators Credit Union

  • Waco, TX
  • Tax-exempt since June 1976
  • EIN: 74-1129327

Organization summary

Type of Nonprofit

Designated as a State-chartered credit unions and mutual reserve funds.

Donations to this organization are not tax deductible.

Summary charts: organization finances over time

Revenue
$14.6M (2022)

Expenses
$8.56M (2022)

Total Assets
$538M (2022)

Total Liabilities
$452M (2022)

Source: Form 990 tax filings from 2011 to 2022

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$14,604,226
Expenses
$8,559,807
Net Income
$6,044,419
Net Assets
$85,784,521
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $2,366,235
16.2%
Investment Income $12,254,140
83.9%
Bond Proceeds $0
Royalties $0
Rental Property Income -$16,149
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $689,259
8.1%
Professional Fundraising Fees $0
Other Salaries and Wages $2,617,793
30.6%
Assets/Debt
Total Assets $537,751,416
Total Liabilities $451,966,895
Net Assets $85,784,521
Compensation
Key Employees and Officers Compensation Related Other
William Palasota (President) $340,776 $0 $71,896
Sharon Schroeder (V.P. Accounting) $233,500 $0 $43,087
Monica Krenek (V.P. Lending) $156,837 $0 $32,195
Ryan Gonzales (It Director) $147,252 $0 $30,914
Rachel E Wilde (Marketing Director) $104,600 $0 $25,396
Al Pollard (Chairman) $0 $0 $0
Connie Wedemeyer (Vice Chairman) $0 $0 $0
Hazel Rowe (Secretary) $0 $0 $0
Aimee Shelton (Director) $0 $0 $0
Stan Mitchell (Director) $0 $0 $0
Angelo Ochoa (Director) $0 $0 $0
David Shepherd (Director) $0 $0 $0
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Document Links

990
Filed on Aug. 11, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,564,364
Expenses
$8,347,515
Net Income
$3,216,849
Net Assets
$79,740,102
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $2,535,479
21.9%
Investment Income $9,044,130
78.2%
Bond Proceeds $0
Royalties $0
Rental Property Income -$15,245
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $810,761
9.7%
Professional Fundraising Fees $0
Other Salaries and Wages $2,515,567
30.1%
Assets/Debt
Total Assets $523,380,753
Total Liabilities $443,640,651
Net Assets $79,740,102
Compensation
Key Employees and Officers Compensation Related Other
William Palasota (Cfo) $297,997 $0 $61,539
Sharon Schroeder (V.P. Accounting) $204,584 $0 $36,332
Joe Hutyra (Ceo) $185,867 $0 $24,442
Monica Krenek (V.P. Lending) $156,360 $0 $30,063
Jo Ann Brown (Chairman) $0 $0 $0
Al Pollard (Vice Chairman) $0 $0 $0
Hazel Rowe (Secretary) $0 $0 $0
Raymond Weldon (Director) $0 $0 $0
Stan Mitchell (Director) $0 $0 $0
Edward Hernandez (Director) $0 $0 $0
Ben Selman (Director) $0 $0 $0
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Document Links

990
Filed on Sept. 19, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$13,003,577
Expenses
$9,717,042
Net Income
$3,286,535
Net Assets
$76,523,251
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $2,434,112
18.7%
Investment Income $10,583,726
81.4%
Bond Proceeds $0
Royalties $0
Rental Property Income -$14,261
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $1,123,714
11.6%
Professional Fundraising Fees $0
Other Salaries and Wages $2,493,928
25.7%
Assets/Debt
Total Assets $466,926,206
Total Liabilities $390,402,955
Net Assets $76,523,251
Compensation
Key Employees and Officers Compensation Related Other
Joe Hutyra (Ceo) $510,828 $0 $75,104
William Palasota (Cfo) $267,246 $0 $59,574
Sharon Schroeder (V.P. Accounting) $175,397 $0 $32,677
Monica Krenek (V.P. Lending) $149,030 $0 $29,249
Edward Hernandez (Director) $1,080 $0 $0
Al Pollard (Vice Chairman) $911 $0 $0
Jo Ann Brown (Chairman) $898 $0 $0
Hazel Rowe (Secretary) $0 $0 $0
Raymond Weldon (Director) $0 $0 $0
Stan Mitchell (Director) $0 $0 $0
Ben Selman (Director) $0 $0 $0
+ View more people

Document Links

990
Filed on July 16, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$13,980,900
Expenses
$9,508,637
Net Income
$4,472,263
Net Assets
$73,236,716
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $2,019,793
14.4%
Investment Income $11,974,431
85.6%
Bond Proceeds $0
Royalties $0
Rental Property Income -$13,324
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $873,481
9.2%
Professional Fundraising Fees $0
Other Salaries and Wages $2,567,279
27.0%
Assets/Debt
Total Assets $415,310,486
Total Liabilities $342,073,770
Net Assets $73,236,716
Compensation
Key Employees and Officers Compensation Related Other
Joe Hutyra (Ceo) $480,742 $0 $75,104
William Palasota (Cfo) $251,486 $0 $57,526
Sharon Schroeder (V.P. Accounting) $159,332 $0 $30,589
Monica Krenek (V.P. Lending) $139,184 $0 $27,969
Stan Mitchell (Director) $1,805 $0 $0
Al Pollard (Vice Chairman) $1,739 $0 $0
Raymond Weldon (Chairman) $1,623 $0 $0
Edward Hernandez (Director) $1,425 $0 $0
Ben Salman (Director) $1,051 $0 $0
Hazel Rowe (Director) $980 $0 $0
Jo Ann Brown (Secretary) $0 $0 $0
+ View more people

Document Links

990
Filed on July 9, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$12,675,304
Expenses
$8,511,319
Net Income
$4,163,985
Net Assets
$68,764,453
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $2,037,636
16.1%
Investment Income $10,647,113
84.0%
Bond Proceeds $0
Royalties $0
Rental Property Income -$9,445
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $823,999
9.7%
Professional Fundraising Fees $0
Other Salaries and Wages $2,442,865
28.7%
Assets/Debt
Total Assets $406,585,412
Total Liabilities $337,820,959
Net Assets $68,764,453
Compensation
Key Employees and Officers Compensation Related Other
Joe Hutyra (Ceo) $452,659 $0 $54,036
William Palasota (Cfo) $236,733 $0 $73,261
Sharon Schroeder (V.P. Accounting) $150,281 $0 $38,024
Monica Krenek (V.P. Lending) $127,577 $0 $25,600
Jo Ann Brown (Secretary) $1,897 $0 $0
Stan Mitchell (Director) $1,341 $0 $0
Raymond Weldon (Chairman) $1,155 $0 $0
Al Pollard (Vice Chairman) $1,079 $0 $0
Ben Salman (Director) $963 $0 $0
Edward Hernandez (Director) $875 $0 $0
Hazel Rowe (Director) $0 $0 $0
+ View more people

Document Links

990
Filed on May 15, 2019

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,225,421
Expenses
$8,395,477
Net Income
$2,829,944
Net Assets
$64,600,468
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $2,067,358
18.4%
Investment Income $9,162,521
81.6%
Bond Proceeds $0
Royalties $0
Rental Property Income -$4,458
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $787,718
9.4%
Professional Fundraising Fees $0
Other Salaries and Wages $2,454,179
29.2%
Assets/Debt
Total Assets $401,271,928
Total Liabilities $336,671,460
Net Assets $64,600,468
Compensation
Key Employees and Officers Compensation Related Other
Joe Hutyra (Ceo) $426,220 $0 $73,382
William Palasota (Cfo) $221,257 $0 $52,145
Sharon Schroeder (V.P. Accounting) $144,185 $0 $28,016
Monica Krenek (V.P. Lending) $121,396 $0 $25,053
Al Pollard (Vice Chairman) $2,987 $0 $0
Ben Salman (Director) $2,561 $0 $0
Louis Wedemeyer (Director) $2,535 $0 $0
Jo Ann Brown (Secretary) $2,346 $0 $0
Edward Hernandez (Director) $2,200 $0 $0
Raymond Weldon (Chairman) $2,084 $0 $0
Hazel Rowe (Director) $0 $0 $0
+ View more people

Document Links

990
Filed on May 14, 2018

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$10,620,451
Expenses
$8,282,808
Net Income
$2,337,643
Net Assets
$61,770,524
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $1,883,200
17.7%
Investment Income $8,747,713
82.4%
Bond Proceeds $0
Royalties $0
Rental Property Income -$10,462
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $652,446
7.9%
Professional Fundraising Fees $0
Other Salaries and Wages $2,539,576
30.7%
Assets/Debt
Total Assets $390,705,690
Total Liabilities $328,935,166
Net Assets $61,770,524
Compensation
Key Employees and Officers Compensation Related Other
Joe Hutyra (Ceo) $345,699 $0 $48,870
William Palasota (Cfo) $209,908 $0 $39,300
Sharon Schroeder (V.P. Accounting) $130,140 $0 $28,918
Monica Krenek (V.P. Lending) $118,951 $0 $27,463
Raymond Weldon (Chairman) $2,182 $0 $0
Louis Wedemeyer (Director) $1,729 $0 $0
Jo Ann Brown (Secretary) $1,615 $0 $0
Ben Salman (Director) $1,196 $0 $0
Edward Hernandez (Director) $1,016 $0 $0
Al Pollard (Vice Chairman) $931 $0 $0
Hazel Rowe (Director) $0 $0 $0
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Document Links

990
Filed on June 15, 2017

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,101,191
Expenses
$7,996,643
Net Income
$3,104,548
Net Assets
$59,432,881
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $2,232,096
20.1%
Investment Income $8,875,655
80.0%
Bond Proceeds $0
Royalties $0
Rental Property Income -$6,560
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $588,195
7.4%
Professional Fundraising Fees $0
Other Salaries and Wages $2,472,964
30.9%
Assets/Debt
Total Assets $383,386,027
Total Liabilities $323,953,146
Net Assets $59,432,881
Compensation
Key Employees and Officers Compensation Related Other
Joe Hutyra (Ceo) $289,530 $0 $53,023
William Palasota (Cfo) $197,468 $0 $37,670
Sharon Schroeder (V.P. Accounting) $117,881 $0 $14,000
Monica Krenek (V.P. Lending) $111,321 $0 $12,000
Raymond Weldon (Chairman) $2,655 $0 $0
Jo Ann Brown (Secretary) $2,629 $0 $0
Ben Salman (Director) $2,379 $0 $0
Ralph Barksdale (Director) $2,135 $0 $0
Al Pollard (Vice Chairman) $2,064 $0 $0
Edward Hernandez (Director) $1,624 $0 $0
Louis Wedemeyer (Director) $908 $0 $0
+ View more people

Document Links

990
Filed on Aug. 30, 2016

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML
PDF (2 of 2)

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,441,788
Expenses
$7,757,075
Net Income
$3,684,713
Net Assets
$56,328,334
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $2,205,321
19.3%
Investment Income $9,241,021
80.8%
Bond Proceeds $0
Royalties $0
Rental Property Income -$4,554
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $538,009
6.9%
Professional Fundraising Fees $0
Other Salaries and Wages $2,457,514
31.7%
Assets/Debt
Total Assets $364,033,864
Total Liabilities $307,705,530
Net Assets $56,328,334
Compensation
Key Employees and Officers Compensation Related Other
Joe Hutyra (Ceo) $261,613 $0 $44,000
William Palasota (Cfo) $188,066 $0 $36,000
Sharon Schroeder (V.P. Accounting) $113,835 $0 $13,000
Monica Krenek (V.P. Lending) $106,076 $0 $11,000
Edward Hernandez (Director) $2,043 $0 $0
Ralph Barksdale (Director) $1,970 $0 $0
Jo Ann Brown (Secretary) $1,851 $0 $0
Louis Wedemeyer (Director) $1,419 $0 $0
Raymond Weldon (Chairman) $916 $0 $0
Al Pollard (Vice Chairman) $131 $0 $0
Ben Salman (Director) $0 $0 $0
+ View more people

Document Links

990
Filed on Aug. 4, 2015

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,885,969
Expenses
$7,832,756
Net Income
$4,053,213
Net Assets
$52,643,614
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $2,259,031
19.0%
Investment Income $9,627,399
81.0%
Bond Proceeds $0
Royalties $0
Rental Property Income -$461
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $520,876
6.6%
Professional Fundraising Fees $0
Other Salaries and Wages $2,418,955
30.9%
Assets/Debt
Total Assets $353,634,496
Total Liabilities $300,990,882
Net Assets $52,643,614
Compensation
Key Employees and Officers Compensation Related Other
Joe Hutyra (Ceo) $253,068 $0 $42,000
William Palasota (Cfo) $183,043 $0 $32,000
Sharon Schroeder (V.P. Accounting) $110,673 $0 $13,000
Monica Krenek (V.P. Lending) $104,448 $0 $11,000
Edward Hernandez (Director) $2,060 $0 $0
Jo Ann Brown (Secretary) $1,816 $0 $0
Al Pollard (Director) $1,814 $0 $0
Ralph Barksdale (Director) $1,646 $0 $0
Raymond Weldon (Chairman) $1,422 $0 $0
Austin Vasek (Vice Chairman) $1,090 $0 $0
Louis Wedemeyer (Director) $917 $0 $0
+ View more people

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990
Filed on May 13, 2014

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$10,598,445
Expenses
$8,355,249
Net Income
$2,243,196
Net Assets
$48,311,174
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $1,928,410
18.2%
Investment Income $8,678,545
81.9%
Bond Proceeds $0
Royalties $0
Rental Property Income -$8,510
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $492,624
5.9%
Professional Fundraising Fees $0
Other Salaries and Wages $2,412,811
28.9%
Assets/Debt
Total Assets $341,514,524
Total Liabilities $293,203,350
Net Assets $48,311,174

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF
PDF (2 of 2)

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,198,252
Expenses
$9,363,863
Net Income
$1,834,389
Net Assets
$46,067,981
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $11,182,053
99.9%
Bond Proceeds $0
Royalties $0
Rental Property Income $16,199
0.1%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $372,376
4.0%
Professional Fundraising Fees $0
Other Salaries and Wages $2,549,215
27.2%
Assets/Debt
Total Assets $332,195,243
Total Liabilities $286,127,262
Net Assets $46,067,981

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF
PDF (2 of 2)

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

API

The data powering this website is available programmatically, via an API. Read the API documentation »

Byline

By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

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