ESSENTIAL FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.essentialfcu.org for more information.
Sep, 30, 2025 — ESSENTIAL FEDERAL CREDIT UNION is a federal credit union headquartered in PLAQUEMINE, LA with 5 branch locations and about $394.22 million in total assets. Opened 54 years ago in 1972, ESSENTIAL FEDERAL CREDIT UNION has about 45,083 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: | https://www.essentialfcu.org |
| Branches: | 5 branch locations |
| Members: | 45,083 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $394,220,830 |
| CEO/Manager: | Richard Williams |
| Chairperson: | Joey Justice |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 26,898,937 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 93,710,902 |
| Unsecured Loans | 14,444,278 |
| Other Loans | 209,070,293 |
| TOTAL LOANS | 317,689,905 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,554,264 |
| Land And Building | 22,561,447 |
| Other Fixed Assets | 897,265 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 3,058,176 |
| All Other Assets | 178,829 |
| TOTAL ASSETS | 394,220,830 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 13,000,000 |
| Accounts Payable & Other Liabilities | 3,453,788 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 70,813,151 |
| Regular shares | 141,888,249 |
| All Other Shares & Deposits | 133,324,883 |
| TOTAL SHARES & DEPOSITS | 346,026,283 |
| TOTAL LIABILITIES | 362,480,071 |
| Regular Reserve | 0 |
| Other Reserves | -1,295,384 |
| Undivided Earnings | 33,036,143 |
| TOTAL EQUITY | 31,740,759 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 394,220,830 |
| INCOME & EXPENSE | |
| Loan Income | 9,794,572 |
| Investment Income | 151,628 |
| Other Income | 3,190,144 |
| Total Employee Compensation & Benefits | 5,713,608 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 7,879,051 |
| Non-operating Income & (Expense) | 146,666 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 50,000 |
| Cost of Funds | 1,679,765 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,540,193 |
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