Educators Credit Union

Nonprofit profile at a glance

EIN
741129327
IRS 990 coverage
2011–2025
Forms available
Form 990 2025
Location
Waco, TX, USA
Phone
2547767900
Rating confidence
Limited

Official website

Reported finances

Revenue
$27,008,763
Expenses
$15,138,990
Assets
$594,816,789
Liabilities
$477,943,324

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • WILLIAM PALASOTA (PRESIDENT)

Highest reported compensation

  • WILLIAM PALASOTA (PRESIDENT): $568,002 total reported compensation
  • SHARON SCHROEDER (V.P. ACCOUNTING): $437,903 total reported compensation
  • RYAN GONZALES (IT DIRECTOR): $230,805 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2025

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.

Operating model

Revenue model
Investment-supported. 92% of the money available for current operations came from recurring investment income.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 86
  • Accountability: 95
  • Sustainability: 75
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 43.9%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 39.29; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.8; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 10.7%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.2% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 4.3% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $568K · 12 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 4 filed schedules · includes grants and executive pay
  • Filing history: 15 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.