Sep, 30, 2025 — ESSENTIAL CREDIT UNION is a federally insured state chartered credit union headquartered in BATON ROUGE, LA with 6 branch locations and about $414.10 million in total assets. Opened 54 years ago in 1972, ESSENTIAL CREDIT UNION has about 36,811 members and employs 96 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 CREDIT UNION |
|---|---|
| Address: (Main Office) | 2370 Towne Center BLVD BATON ROUGE, LA 70806 |
| Phone: | (866) 345-7135 |
| Fax: | |
| Website: | https://www.essentialcu.org |
| Branches: | 6 branch locations |
| Members: | 36,811 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68736 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1972 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $414,095,877 |
| CEO/Manager: | Richard Williams |
| Chairperson: | Stephan Pierre |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 37,114,948 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 102,448,315 |
| Unsecured Loans | 29,337,939 |
| Other Loans | 196,903,702 |
| TOTAL LOANS | 329,009,083 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,564,152 |
| Land And Building | 20,888,970 |
| Other Fixed Assets | 3,159,448 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 3,279,719 |
| All Other Assets | 319,011 |
| TOTAL ASSETS | 414,095,877 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 22,900,000 |
| Accounts Payable & Other Liabilities | -1,812,476 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 9,500,000 |
| Share Drafts | 62,837,970 |
| Regular shares | 121,720,737 |
| All Other Shares & Deposits | 171,487,075 |
| TOTAL SHARES & DEPOSITS | 356,045,783 |
| TOTAL LIABILITIES | 386,633,307 |
| Regular Reserve | 0 |
| Other Reserves | -571,103 |
| Undivided Earnings | 28,033,673 |
| TOTAL EQUITY | 27,462,570 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 414,095,877 |
| INCOME & EXPENSE | |
| Loan Income | 15,403,323 |
| Investment Income | 140,868 |
| Other Income | 2,987,399 |
| Total Employee Compensation & Benefits | 6,626,885 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 9,447,722 |
| Non-operating Income & (Expense) | 33,723 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,448,000 |
| Cost of Funds | 6,378,753 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -1,057,619 |
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