State Chartered Credit Unions In Louisiana

Organization Overview

State Chartered Credit Unions In Louisiana is located in Baton Rouge, LA. The organization was established in 1969. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2018, State Chartered Credit Unions In Louisiana employed 313 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. State Chartered Credit Unions In Louisiana is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2019, State Chartered Credit Unions In Louisiana generated $48.6m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $44.5m during the year ending 12/2019. While expenses have increased by 11.2% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

TO IMPROVE THE LIVES OF OUR MEMBERS THROUGH SAFE, COMPETITIVE PRODUCTS, AND EDUCATIONAL SERVICES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

LOAN PROGRAM WITH COMPETITIVE INTEREST PRICING TO ALL MEMBERS, INCLUDING MEMBERS WITH LITTLE OR POOR CREDIT HISTORY. WIDE SPECTRUM OF LENDING PRODUCTS INCLUDING AUTO LOANS WITH NO DOWN PAYMENT, MORTGAGE LENDING, CREDIT CARDS, UNSECURED LENDING AND PAYDAY ALTERNATIVE LENDING.


DEPOSIT PROGRAM OFFERING VARIETY OF SAVINGS AND TRANSACTIONAL PRODUCTS, MOST WITH NO MONTHLY FEE AND ABOVE MARKET INTEREST RATES. CHECKING ACCOUNTS GEARED FOR EASY ENTRY REGARDLESS OF PRIOR CHECKING HISTORY.


PARTNERS IN EDUCATION PROGRAMS; PROVIDED FREE FINANCIAL EDUCATIONAL PROGRAMS THROUGHOUT THE STATE, INCLUDING CREDIT MANAGEMENT, CREDIT REPAIR, BUDGETING, AND CHECKING ACCOUNT BALANCING. SEMINARS ARE CONDUCTED IN LOCAL HIGH SCHOOLS, COMMUNITY CENTERS, AND HOSPITALS THROUGHOUT THE STATE. WE PROVIDED FREE CREDIT COUNSELING PROGRAM TO MEMBERS, HELPING THEM CREATE BUDGETS AS WELL AS REBUILD THEIR CREDIT. SEVEN EMPLOYEES ARE DEDICATED TO THIS PROGRAM FULL TIME. STAFF CONDUCTED 196 WORKSHOPS THROUGHOUT THE STATE, WITH 7706 ATTENDEES, OF WHICH 474 WERE MEMBERS AND 7232 WERE NON-MEMBERS. WE ALSO TEACH FINANCIAL EDUCATION TO HIGH SCHOOL STUDENTS - LAST YEAR WE HELD 55 WORKSHOPS SPEAKING TO 2471 STUDENTS.


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Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$0
Investment income $1,039,603
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $48,572,194

Peer Organizations

Organization NameAssets
Credit Union Of Texas
Allen, TX
$92,923,025
First Community Credit Union Of Houston
Houston, TX
$78,841,838
Texas Trust Credit Union
Arlington, TX
$71,525,575
Firstmark Credit Union
San Antonio, TX
$59,445,918
First Service Credit Union
Houston, TX
$51,399,270
State Chartered Credit Unions In Louisiana
Baton Rouge, LA
$48,572,194
Neighborhood Credit Union
Dallas, TX
$51,652,385
Fort Worth Community Credit Union
Bedford, TX
$47,287,563
Velocity Credit Union
Austin, TX
$51,540,286
United Heritage Credit Union
Austin, TX
$48,829,880
Intouch Credit Union
Plano, TX
$42,962,924
Texans Credit Union
Richardson, TX
$61,592,504

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