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National Credit Union Service Organization

LA TERRE FEDERAL CREDIT UNION

Jun, 30, 2021 — LA TERRE FEDERAL CREDIT UNION is a federal credit union headquartered in HOUMA, LA with 2 branch locations and about $33.91 million in total assets. Opened 51 years ago in 1970, LA TERRE FEDERAL CREDIT UNION has about 5,619 members and employs 13 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:5,619
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$33,907,367
CEO/Manager:Crystal K Marks
Chairperson:Paul Labat

Call Report

  • Credit Builder
  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,746,281
TOTAL INVESTMENTS 4,241,877
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 2,776,453
 Other Loans 20,505,930
 TOTAL LOANS 23,282,383
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -359,285
 Land And Building 957,523
 Other Fixed Assets 65,118
 NCUSIF Deposit 271,940
 All Other Assets 701,530
  TOTAL ASSETS 33,907,367
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 85,914
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 818,733
 Regular shares 22,865,711
 All Other Shares & Deposits 6,780,758
  TOTAL SHARES & DEPOSITS 30,465,202
  TOTAL LIABILITIES 30,551,116
 Regular Reserve 614,623
 Other Reserves 0
 Undivided Earnings 2,741,628
  TOTAL EQUITY 3,356,251
  TOTAL LIABILITIES, SHARES, & EQUITY 33,907,367
INCOME & EXPENSE  
 Loan Income 1,067,702
 Investment Income 4,368
 Other Income 164,884
 Total Employee Compensation & Benefits 544,027
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 308,930
 Non-operating Income & (Expense) 250
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 611,737
 Cost of Funds 89,189
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -237,827
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