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.
| 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 |
| 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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