Cf-La Credit Union
- Assets
- $9.5m
- Revenue
- $183.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Donaldsonville, LA
- Founding
- 09/1969
- Data as of
- 12/2022
- EIN
- 72-0868372
Organization Overview
Cf-La Credit Union is located in Donaldsonville, 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. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Cf-La Credit Union 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 12/2022, Cf-La Credit Union generated $183.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $204.0k during the year ending 12/2022. While expenses have increased by 4.1% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CF-LA CREDIT UNION IS A FINANCIAL INSTITUTION THAT PROVIDES AFFORDABLE BANKING SERVICES TO THEIR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTITUTION PROVIDES AFFORDABLE BANKING SERVICES TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Duane Lee President | Trustee | 2 | $0 |
Toni Simon Secretary | Trustee | 1 | $0 |
Brian Janis Vice President | Trustee | 1 | $0 |
Lyndon Pousson Jr Treasurer | Trustee | 1 | $0 |
Jarett Daigle Member | Trustee | 1 | $0 |
Yvonne Cortez Member | Trustee | 1 | $0 |
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 | $147,330 |
| Investment income | $31,869 |
| 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 | $183,251 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $87,662 |
| Pension plan accruals and contributions | $7,000 |
| Other employee benefits | $21,340 |
| Payroll taxes | $6,763 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,086 |
| Advertising and promotion | $0 |
| Office expenses | $8,870 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,420 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,918 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,692 |
| Insurance | $6,301 |
| All other expenses | $125 |
| Total functional expenses | $204,033 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $499,323 |
| Savings and temporary cash investments | $4,226,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,671,383 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,684 |
| Net Land, buildings, and equipment | $4,887 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $105,919 |
| Total assets | $9,514,196 |
| Accounts payable and accrued expenses | $942 |
| 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 | $2,860 |
| Total liabilities | $3,802 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $8,287,749 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,222,645 |
| Total liabilities and net assets/fund balances | $9,514,196 |
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|---|---|---|
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