State Chartered Credit Unions In Louisiana
- Assets
- $396.5m
- Revenue
- $48.6m
- Investments
- $506.3k
- Employees
- 313
- Location
- Baton Rouge, LA
- Founding
- 08/1969
- Data as of
- 12/2019
- EIN
- 72-0498240
State Chartered Credit Unions In Louisiana 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.
Form
990
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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PDF Copies of 990 Filings
State Chartered Credit Unions In Louisiana Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Conrad Ceo/president | Officer | 40 | $373,686 |
Annette Thames Chief Operations Officer | Officer | 40 | $215,773 |
Melissa Ott Chief Financial Officer | Officer | 40 | $194,125 |
Charles Morgan Senior Vice President | Officer | 40 | $181,862 |
Paige Corcoran Senior Vice President | Officer | 40 | $162,364 |
Lindsey Richard Vice President | 40 | $139,709 |
State Chartered Credit Unions In Louisiana Vendors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Labarre Associates Inc Facility Maintenance/achitect | 12/30/18 | $1,783,548 |
Kasasa Ltd Marketing And Software | 12/30/18 | $455,057 |
Alpha Omega Laser Inc Statement Printing | 12/30/18 | $335,546 |
Cdw Direct Information Technology | 12/30/18 | $235,793 |
Jack Henry & Associates Inc Data Processor | 12/30/18 | $483,492 |
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 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,319,118 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,157,116 |
| Pension plan accruals and contributions | $1,035,772 |
| Other employee benefits | $3,296,421 |
| Payroll taxes | $1,057,029 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,767 |
| Fees for services: Accounting | $122,995 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,019,742 |
| Advertising and promotion | $558,595 |
| Office expenses | $1,892,387 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $662,111 |
| Travel | $484,148 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $738,277 |
| Interest | $4,972,872 |
| Payments to affiliates | $84,310 |
| Depreciation, depletion, and amortization | $1,754,392 |
| Insurance | $597,760 |
| All other expenses | $0 |
| Total functional expenses | $44,546,992 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,215,421 |
| Savings and temporary cash investments | $22,972,502 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,981,593 |
| Loans from Officers, Directors, or Controlling Persons | $2,592,419 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $320,117,011 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,000,353 |
| Investments—publicly traded securities | $2,938,872 |
| Investments—other securities | $506,305 |
| Investments—program-related | $0 |
| Intangible assets | $194,867 |
| Other assets | $24,345,855 |
| Total assets | $396,477,801 |
| Accounts payable and accrued expenses | $3,707,156 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $349,599,134 |
| Total liabilities | $353,306,290 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $43,171,511 |
State Chartered Credit Unions In Louisiana Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Credit Union Of Texas Allen, TX | $1,393,394,999 | $92,923,025 |
First Community Credit Union Of Houston Houston, TX | $1,792,099,234 | $78,841,838 |
Texas Trust Credit Union Arlington, TX | $1,344,628,631 | $71,525,575 |
Firstmark Credit Union San Antonio, TX | $1,020,010,997 | $59,445,918 |
First Service Credit Union Houston, TX | $759,318,816 | $51,399,270 |
State Chartered Credit Unions In Louisiana Baton Rouge, LA | $396,477,801 | $48,572,194 |
Neighborhood Credit Union Dallas, TX | $810,062,773 | $51,652,385 |
Fort Worth Community Credit Union Bedford, TX | $1,001,618,613 | $47,287,563 |
Velocity Credit Union Austin, TX | $849,082,564 | $51,540,286 |
United Heritage Credit Union Austin, TX | $1,074,547,983 | $48,829,880 |
Intouch Credit Union Plano, TX | $920,945,761 | $42,962,924 |
Texans Credit Union Richardson, TX | $1,606,022,803 | $61,592,504 |
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