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LA TERRE FEDERAL CREDIT UNION

Mar, 31, 2021 — LA TERRE FEDERAL CREDIT UNION is a federal credit union headquartered in HOUMA, LA with 2 branch locations and about $34.11 million in total assets. Opened 51 years ago in 1970, LA TERRE FEDERAL CREDIT UNION has about 5,642 members and employs 14 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:http://www.laterrefcu.org
Branches:2 branch locations
Members:5,642
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, 2019
FHLB Member:No
Low Income Designation:No
Assets:$34,105,104
CEO/Manager:Crystal K Marks
Chairperson:Paul Labat

Call Report

  • Credit Builder
  • Indirect Consumer Loans
  • Micro Consumer Loans
  • Overdraft Protection
  • Risk Based Loans
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,888,164
TOTAL INVESTMENTS 3,497,877
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 2,873,214
 Other Loans 21,170,037
 TOTAL LOANS 24,043,251
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -619,010
 Land And Building 964,127
 Other Fixed Assets 68,461
 NCUSIF Deposit 279,942
 All Other Assets 982,292
  TOTAL ASSETS 34,105,104
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 103,692
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 804,659
 Regular shares 22,425,526
 All Other Shares & Deposits 7,470,726
  TOTAL SHARES & DEPOSITS 30,700,911
  TOTAL LIABILITIES 30,804,603
 Regular Reserve 614,623
 Other Reserves 0
 Undivided Earnings 2,685,878
  TOTAL EQUITY 3,300,501
  TOTAL LIABILITIES, SHARES, & EQUITY 34,105,104
INCOME & EXPENSE  
 Loan Income 529,431
 Investment Income 1,931
 Other Income 84,051
 Total Employee Compensation & Benefits 278,322
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 151,541
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 450,758
 Cost of Funds 46,236
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -293,575
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