Dec, 31, 2023 — LA TERRE FEDERAL CREDIT UNION is a federal credit union headquartered in HOUMA, LA with 1 branch location and about $27.57 million in total assets. Opened 54 years ago in 1970, LA TERRE FEDERAL CREDIT UNION has about 5,163 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LA TERRE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 701 Barrow St HOUMA, LA 70360-4701 |
| Phone: | (985) 872-2836 |
| Fax: | (984) 872-1666 |
| Website: | https://www.laterrefcu.org |
| Branches: | 1 branch locations |
| Members: | 5,163 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 20002 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1970 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $27,574,900 |
| CEO/Manager: | Crystal K Marks |
| Chairperson: | Paul Labat |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,441,519 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 2,917,325 |
| Other Loans | 21,043,891 |
| TOTAL LOANS | 23,961,216 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,201,849 |
| Land And Building | 915,394 |
| Other Fixed Assets | 17,015 |
| NCUSIF Deposit | 266,219 |
| All Other Assets | 380,125 |
| TOTAL ASSETS | 27,574,900 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 162,634 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 689,778 |
| Regular shares | 19,038,157 |
| All Other Shares & Deposits | 5,893,116 |
| TOTAL SHARES & DEPOSITS | 25,621,051 |
| TOTAL LIABILITIES | 25,783,685 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,791,215 |
| TOTAL EQUITY | 1,791,215 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 27,574,900 |
| INCOME & EXPENSE | |
| Loan Income | 1,661,754 |
| Investment Income | 77,899 |
| Other Income | 213,002 |
| Total Employee Compensation & Benefits | 934,829 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 653,009 |
| Non-operating Income & (Expense) | 313 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 131,120 |
| Cost of Funds | 214,473 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 71,289 |
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