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800-259-2471
7701 Airline Dr
Metairie, LA 70003-6228

Jefferson Financial Credit Union is headquartered in Metairie and is the 5th largest credit union in the state of Louisiana. It is also the 599th largest credit union in the nation. It was established in 1966 and as of March of 2014, it had grown to 138 employees and 49,243 members. Jefferson Financial Credit Union has a B+ health rating.

Field of Membership Restrictions

Must be an employee, retiree or student of the Jefferson Parish Public School System or be an employee of several other Select Employee Groups. Also open to those who live in Jefferson Parish. - See Details

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Reviews (3)

HORRIBLE!!!

I was 32 or 34 days late on an auto loan.  I went to the branch to make 2 payments: one for the past due and another for the one currently due.  The teller said she couldn't accept my money, handed me a piece of paper with the name "Joe" on it and a cell phone number!  JFCU turned me over to an UNLICENSED repossession company for being ONE month late.  They also did this without providing any kind of notice which is in BREACH of contract that I signed when I purchased the vehicle (and is also in violation of state law - La RS 6:966).  I filed a complaint with the Attorney General's office in an attempt to peacefully resolve the matter.  I expected their Compliance Officer to respond and address the issue of the laws they violated and reimburse the "collection fee".  Instead, I received an elementary-versed letter by their Collections Manager!  It was packed full of lies and allegations of deceipt on my part!  The letter ended with a "good faith" offer to credit my account a portion of the fee.

I am considering my options at this point, but whatever you do - DO NOT CHOOSE THIS INSTITUTION!

HATE THIS CREDIT UNION!! DONT GIVE THEM YOUR MONEY OR YOUR TIME!!

I have been banking with Jefferson Parish School Board Employees Credit Union for over 15 years now, and I have never had a single problem with them. Now that Jefferson Financial has taken over, I have had nothing but problems.  Over the last year or so, I have sent them  3 different emails, and they have not responded to a single one. When they started with the new online service, they failed to notify me that they changed my account number. I "accidentally" figured it out by playing with a combination of numbers. One of my emails was regarding this matter, which I feel is a pretty important matter. Another email I wrote was to notify them of an error I received from their online site that told me to contact them and give them the error code. My email with the error information was obviously not important enough for them to deal with because they have not responded and the error has not been corrected. I have to make SEVERAL ATTEMPTS to log in before it MIGHT actually sign on to my account.  Just this week my husband and I endorsed a check, went to the bank (together), and offered our ID's to make this deposit. Because the account was not a JOINT account, but yet the check had both our names on it, THEY REFUSED TO TAKE THE CHECK!! For years I have been able to deposit a joint check from taxes or from other similar means into my SOLO account with just us both endorsing it. We weren't asking for cash from the check nor were we trying to scam anyone. We had our STATE ISSUED ID's with us as proof. I have had so many friends and family members tell me of their many problems with this company. They charge a penalty fee for pending charges that do not even exist.  HUNDREDS OF DOLLARS HAVE BEEN STOLEN FROM US AND OTHER FAMIY MEMBERS BECAUSE OF PENDING CHARGES THAT NEVER EXISTED!!  DONT WASTE YOUR TIME OR YOUR MONEY! THEY WILL NOT RETURN YOUR CALL OR YOUR EMAILS!! 

Always Troubles

Do not waste your time with them. They always have trouble with every single check you need to deposit or change. Dont do it. Dont tell me I did't tell you after all. 



Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Jefferson Financial Credit Union had $3.33 million in non-current loans and owned real-estate with $42.26 million in equity and loan loss allowances on hand to cover it. This gives Jefferson Financial Credit Union a Texas Ratio of 7.87% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Jefferson Financial Credit Union experienced no significant changes from 7.96% as of March 31, 2013 to 7.87% as of March 31, 2014, resulting in a positive change of 1.06%.This indicates that the balance sheet and financial strength for Jefferson Financial Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
D

In the past year, Jefferson Financial Credit Union has decreased its total deposits by -$34.04 million, resulting in -9.65% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Jefferson Financial Credit Union has shown is below average.

Capitalization

GRADE:
A

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Jefferson Financial Credit Union has $363.54 million in assets with $42.26 million in equity, resulting in a capitalization level of 11.63%, which is excellent.

Institution Statistics

Overall
NCUA #60738
Year Chartered1966
Employees138
Primary Regulator
Assets and Liabilities
Assets$363.54 million
Loans$282.36 million
Deposits$318.83 million
Equity Capital$40.72 million
Loan Loss Allowance$1.54 million
Unbacked Noncurrent Loans$2.94 million
Real Estate Owned$393,000
Historic Data - March 2013
Assets$394.89 million
Equity Capital$39.14 million
Loan Loss Allowance$1.91 million
Unbacked Noncurrent Loans$2.94 million
Real Estate Owned$309,000
Profit Margin - Quarterly
Net Interest Margin1.15%
Return on Assets0.44%
Return on Equity3.9%
Interest Income$3.85 million
Rates
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Jefferson Financial Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%$1k-IRA Shares
0.50%$1k-Roth IRA Shares
0.25%$1k-Share Savings
0.25%$1k-Christmas Club Savings

Jefferson Financial Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.15%$5k-Consumer Checking

Jefferson Financial Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.26%$10k-60 Month Share Certificate
1.16%$10k-48 Month Share Certificate
1.00%$10k-36 Month Share Certificate
0.70%$10k-24 Month Share Certificate
0.50%$10k-12 Month Share Certificate
0.40%$10k-6 Month Share Certificate

Jefferson Financial Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.26%$10k-60 Month IRA Certificate
1.16%$10k-48 Month IRA Certificate
1.00%$10k-36 Month IRA Certificate
0.70%$10k-24 Month IRA Certificate
0.50%$10k-12 Month IRA Certificate
0.40%$10k-6 Month IRA Certificate
Locations

Jefferson Financial Credit Union has 14 locations. Click to view all Jefferson Financial Credit Union locations.