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National Credit Union Service Organization

ESSENTIAL FEDERAL CREDIT UNION

Dec, 31, 2020 — ESSENTIAL FEDERAL CREDIT UNION is a federal credit union headquartered in PLAQUEMINE, LA with 5 branch locations and about $336.51 million in total assets. Opened 49 years ago in 1972, ESSENTIAL FEDERAL CREDIT UNION has about 40,219 members and employs 104 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 265476440
Name:ESSENTIAL FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 738
PLAQUEMINE, LA 70765
Phone:(225) 353-8238
Fax:
Website:http://www.essentialfcu.org
Branches:5 branch locations
Members:40,219
Credit Union Type:Federal Credit Union
Charter Number:20972
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1972
Last Audited:Dec 01, 2019
FHLB Member:Yes
Low Income Designation:No
Assets:$336,511,011
CEO/Manager:Richard Williams
Chairperson:Joey Justice

Call Report

  • Commercial Loans
  • Credit Builder
  • Debt Cancellation/Suspension
  • Indirect Consumer Loans
  • Interest Only or Payment Option 1st Mortgage Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • In-School Branches
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 39,772,146
TOTAL INVESTMENTS 13,469,913
Loans Held for Sale 0
 
 Real Estate Loans 66,681,539
 Unsecured Loans 16,414,307
 Other Loans 163,174,751
 TOTAL LOANS 246,270,597
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,791,433
 Land And Building 23,086,752
 Other Fixed Assets 943,178
 NCUSIF Deposit 2,820,122
 All Other Assets 11,939,736
  TOTAL ASSETS 336,511,011
LIABILITIES & CAPITAL:  
 Dividends Payable 88,750
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,134,509
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 70,360,209
 Regular shares 116,341,778
 All Other Shares & Deposits 118,134,509
  TOTAL SHARES & DEPOSITS 304,836,496
  TOTAL LIABILITIES 308,059,755
 Regular Reserve 7,390,893
 Other Reserves 334,982
 Undivided Earnings 20,725,381
  TOTAL EQUITY 28,451,256
  TOTAL LIABILITIES, SHARES, & EQUITY 336,511,011
INCOME & EXPENSE  
 Loan Income 11,661,160
 Investment Income 468,610
 Other Income 8,489,080
 Total Employee Compensation & Benefits 7,244,074
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 9,740,893
 Non-operating Income & (Expense) 1,425,704
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,703,759
 Cost of Funds 2,912,834
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 442,994
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