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National Credit Union Service Organization

ESSENTIAL FEDERAL CREDIT UNION

Jun, 30, 2021 — ESSENTIAL FEDERAL CREDIT UNION is a federal credit union headquartered in PLAQUEMINE, LA with 5 branch locations and about $359.71 million in total assets. Opened 49 years ago in 1972, ESSENTIAL FEDERAL CREDIT UNION has about 41,865 members and employs 106 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:41,865
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:May 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$359,713,037
CEO/Manager:Richard Williams
Chairperson:Joey Justice

Call Report

  • Payday Alternative Loans (PAL Loans)
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 44,812,109
TOTAL INVESTMENTS 14,358,689
Loans Held for Sale 0
 
 Real Estate Loans 71,203,477
 Unsecured Loans 16,632,233
 Other Loans 173,021,226
 TOTAL LOANS 260,856,936
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,377,711
 Land And Building 22,968,069
 Other Fixed Assets 809,178
 NCUSIF Deposit 2,884,543
 All Other Assets 14,401,224
  TOTAL ASSETS 359,713,037
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 781,572
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 77,217,926
 Regular shares 138,586,996
 All Other Shares & Deposits 113,170,207
  TOTAL SHARES & DEPOSITS 328,975,129
  TOTAL LIABILITIES 329,756,701
 Regular Reserve 7,390,893
 Other Reserves 205,171
 Undivided Earnings 22,360,272
  TOTAL EQUITY 29,956,336
  TOTAL LIABILITIES, SHARES, & EQUITY 359,713,037
INCOME & EXPENSE  
 Loan Income 5,818,310
 Investment Income 186,959
 Other Income 2,020,943
 Total Employee Compensation & Benefits 3,276,725
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 5,030,470
 Non-operating Income & (Expense) 282,254
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 1,158,589
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,615,290
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