Jefferson Financial Federal Credit Union
- Assets
- $432.3m
- Revenue
- $24.5m
- Investments
- $152.2k
- Employees
- 175
- Location
- Metairie, LA
- Founding
- 08/2017
- Data as of
- 12/2015
- EIN
- 72-0649178
Organization Overview
Jefferson Financial Federal Credit Union is located in Metairie, LA. The organization was established in 2017. 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 12/2015, Jefferson Financial Federal Credit Union employed 175 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jefferson Financial Federal Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
"HELPING MEMBERS ACHIEVE THEIR FINANCIAL SUCCESS" BY PROVIDING TO THEM FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE OFFER BOTH SAVINGS AND CHECKING ACCOUNTS TO OUR MEMBERS WITH NO MONTHLY SERVICE CHARGES. THE SHARE SAVINGS ACCOUNTS REPRESENTS THE MEMBER'S OWNERSHIP SHARE OF THE CREDIT UNION.
WE GIVE OUR MEMBERS THE OPPORTUNITY TO SAVE THROUGH THE PURCHASE OF CERTIFICATES OF DEPOSIT WHICH RANGE FROM 6 MONTHS TO 5 YEARS IN TERM WITH A MINIMUM REQUIRED DEPOSIT OF $1,000.
GIVING THE OPPORTUNITY FOR OUR MEMBERS TO PURCHASE HOMES BY PROVIDING MORTGAGES AND SECURED FINANCING FOR OTHER CONSUMER PURCHASES, SUCH AS USED VEHICLES AND CREDIT CARDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Rosa President/ceo | Officer | 40 | $282,989 |
Carie Lopez VP Of Lending | Officer | 40 | $182,244 |
Rob Crowley Chief Technology Officer | Officer | 40 | $137,435 |
Kristin Morrison VP Of Operations | Officer | 40 | $134,696 |
Casey Kucera VP Of Finance | Officer | 40 | $130,347 |
Sharon Wegner Treasurer | Trustee | 1 | $1,886 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $18,026,560 |
| Investment income | $238,772 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,926 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,511,023 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $867,712 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,999,947 |
| Pension plan accruals and contributions | $523,486 |
| Other employee benefits | $527,489 |
| Payroll taxes | $527,964 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,500 |
| Fees for services: Accounting | $31,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $396,961 |
| Advertising and promotion | $1,896,255 |
| Office expenses | $72,128 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $868,010 |
| Travel | $26,236 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $195,637 |
| Interest | $1,837,039 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,267,063 |
| Insurance | $272,961 |
| All other expenses | $759,646 |
| Total functional expenses | $21,803,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,769,634 |
| Savings and temporary cash investments | $39,881,029 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $989,775 |
| Loans from Officers, Directors, or Controlling Persons | $1,978,963 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $349,450,662 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,620,216 |
| Net Land, buildings, and equipment | $18,828,927 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $152,238 |
| Investments—program-related | $225,123 |
| Intangible assets | $0 |
| Other assets | $10,424,671 |
| Total assets | $432,321,238 |
| Accounts payable and accrued expenses | $2,308,706 |
| 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 | $384,874,449 |
| Total liabilities | $387,183,155 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $45,138,083 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
State Chartered Credit Unions In Louisiana Baton Rouge, LA | $599,377,066 | $59,950,337 |
Firstmark Credit Union San Antonio, TX | $1,229,967,544 | $50,715,745 |
United Heritage Credit Union Austin, TX | $1,405,950,790 | $55,051,200 |
First Service Credit Union Houston, TX | $855,098,387 | $54,328,304 |
Neighborhood Credit Union Dallas, TX | $1,066,752,639 | $52,511,237 |
Velocity Credit Union Austin, TX | $1,067,927,517 | $65,298,866 |
Texans Credit Union Richardson, TX | $2,114,687,717 | $56,103,692 |
Resource One Credit Union Dallas, TX | $739,668,611 | $42,535,084 |
Fort Worth Community Credit Union Bedford, TX | $1,211,753,992 | $43,127,818 |
Community Resource Credit Union Baytown, TX | $712,967,542 | $43,169,320 |
Texas Bay Credit Union Houston, TX | $559,614,598 | $36,404,556 |
Brazos Valley Schools Credit Union Katy, TX | $982,088,241 | $33,585,386 |