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225-408-6100
P.O. Box 40088
Baton Rouge, LA 70835

Pelican State Credit Union is headquartered in Baton Rouge and is the 12st largest credit union in the state of Louisiana. It is also the 859th largest credit union in the nation. It was established in 1956 and as of December of 2013, it had grown to 163 employees and 35,822 members. Pelican State Credit Union's savings rates are 94% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Meet one of the following criteria and you're eligible for full membership: * You work for one of Pelican State CU's Select Employer Groups (SEGs) * You are a Pelican State CU employee. * Your immediate family member is a Pelican State CU member * You reside in Rapides Parish There's a membership fee of $5. A deposit in the share savings account is also required for membership. - See Details

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Reviews (2)

Great Rate And Great Service.

I don't know how they are doing it but I don't care.  They have offerred one of the highest rates on checking for 2 years now.  When I call they take care of me.  Good place to bank.

Posting Problems And Multiple Visa Debit Card Authorizations

I have noticed from personal experience that each time I use my Visa Debit card to make purchases over the phone that Pelican State Credit union will put multiple holds on my account...I have had up to 3 holds placed on my funds for a single purchase.  Why?  They will also make it difficult to impossible for some merchants to correct these authorization holds.  I'm beginning to think that the credit union isn't really much different from a bank after all.  They will try anything in hopes that a customer will overdraw their account, after all they have to make money too.  I've also noticed that they will have a purchase authorization, then post that purchase to my account for 2 to 3 days then remove the post for 2 to 3 days then post it again.  This happened to me recently for a 500.00+ transaction.  I wonder if they are monitoring my purchase/spending history hoping that I will overdraw my account.

All I can say is beware.  Each time you use your Visa Debit Card for a purchase placed by phone, make sure you have 3 times the amount of funds needed in your account because you are guaranteed to have several authorizations for a single transaction.

I'm thinking of keeping my savings account and opening a checking account with someone else after all this.  The little bit of interest they pay can't make up for any overdraft fees that they may charge.

I also find that it isn't convenient to do business here.  There aren't enough locations in Baton Rouge, and as far as I know the only location that is open on Sat is in Zachary.



Health

Data for Q4 2013

Institution Health

B+

Texas Ratio

GRADE:
B+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Pelican State Credit Union had $3.5 million in non-current loans and owned real-estate with $23.88 million in equity and loan loss allowances on hand to cover it. This gives Pelican State Credit Union a Texas Ratio of 14.65% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Pelican State Credit Union experienced no significant changes from 12.62% as of December 31, 2012 to 14.65% as of December 31, 2013, resulting in a negative change of 16.08%. This indicates that the balance sheet and financial strength for Pelican State Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Pelican State Credit Union has increased its total deposits by $16.34 million, resulting in 9.09% 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 Pelican State Credit Union has shown is excellent.

Capitalization

GRADE:
B+

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. Pelican State Credit Union has $219.18 million in assets with $23.88 million in equity, resulting in a capitalization level of 10.90%, which is above average.

Institution Statistics

Overall
NCUA #62710
Year Chartered1956
Employees163
Primary Regulator
Assets and Liabilities
Assets$219.18 million
Loans$169.65 million
Deposits$196.07 million
Equity Capital$21.13 million
Loan Loss Allowance$2.76 million
Unbacked Noncurrent Loans$2.74 million
Real Estate Owned$762,000
Historic Data - December 2012
Assets$200.88 million
Equity Capital$18.86 million
Loan Loss Allowance$2.85 million
Unbacked Noncurrent Loans$2.74 million
Real Estate Owned$394,000
Profit Margin - Quarterly
Net Interest Margin7.37%
Return on Assets1.07%
Return on Equity11.07%
Interest Income$14.11 million
Rates
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Always verify rates and promotions with the bank or credit union. We are not Pelican State Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Pelican State Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.01%-$50kKasasa Saver
0.89%$100-IRA Share
0.89%$100-Roth IRA Share
0.89%$100-CESA Share
0.80%$20k-Regular Shares
0.70%$100k-High Yield Shares
0.30%$50k-Commercial Shares
0.25%--Christmas Club
0.25%$1k-Freedom Shares
0.25%--Team Pelican Shares
0.25%--Vacation Club
0.05%--Kasasa Saver

Pelican State Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
4.01%-$10kKasasa Cash
0.05%--Kasasa Cash

Pelican State Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.49%$10k-48 Month Jumbo CD
1.39%$500-48 Month CD
1.24%$10k-36 Month Jumbo CD
1.15%$500-36 Month CD
0.99%$10k-24 Month Jumbo CD
0.89%$500-24 Month CD
0.60%$10k-12 Month Jumbo CD
0.50%$500-12 Month CD
0.49%$10k-6 Month Jumbo CD
0.39%$500-6 Month CD

Pelican State Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.89%$10k-48 Month Jumbo IRA (Traditional,Roth,CESA)
1.78%$1k-48 Month IRA (Traditional,Roth,CESA)
1.64%$10k-36 Month Jumbo IRA (Traditional,Roth,CESA)
1.54%$1k-36 Month IRA (Traditional,Roth,CESA)
1.29%$10k-24 Month Jumbo IRA (Traditional,Roth,CESA)
1.19%$1k-24 Month IRA (Traditional,Roth,CESA)
0.79%$10k-12 Month Jumbo IRA (Traditional,Roth,CESA)
0.69%$1k-12 Month IRA (Traditional,Roth,CESA)
0.60%$10k-6 Month Jumbo IRA (Traditional,Roth,CESA)
0.50%$1k-6 Month IRA (Traditional,Roth,CESA)
Locations

Pelican State Credit Union has 12 locations. Click to view all Pelican State Credit Union locations.