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504-576-5800
639 Loyola Ave Ste 220
New Orleans, LA 70113

RiverLand Credit Union is headquartered in New Orleans and is the 13st largest credit union in the state of Louisiana. It is also the 977th largest credit union in the nation. It was established in 1978 and as of December of 2013, it had grown to 47 employees and 14,223 members. RiverLand Credit Union's savings rates are 3X the national average, and it has a B health rating.

Field of Membership Restrictions

There are Three Ways to Become a Member: Employment - RiverLand Credit Union was originally chartered as an occupational Credit Union. Membership eligibility may be based on your employment. Please see the complete list of Eligible Employer Groups listed below. Family - Family members of a current RiverLand member may join. Family members eligible for membership include spouses, children, parents, siblings, grandchildren, grandparents, great-grandchildren, great-grandparents, and step-relatives. Association - In our support of the Arts in New Orleans, RiverLand Credit Union membership is extended to all members of the New Orleans Arts Council. Lifetime Membership - Once you join RiverLand Credit Union and establish your membership, you may remain a member for as long as you like even if your membership eligibility should change. Eligible Employer Groups If you are employed by, or are a retiree of, any of the companies below, you are eligible for RiverLand Credit Union membership. If you are a family member of a RiverLand member, you're eligible too! - See Details

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Reviews (1)

Application Denied After Costly Membership Requirement

I applied for membership in the RiverLand Credit Union because it has the highest money market rates for IRAs and HSAs.  It is possible to become a member by contributing to the Arts Council of New Orleans.  I made a $10 contribution to the Arts Council and submitted my application to RiverLand.  I received a response from RiverLand that they would have to have proof of my membership in the Arts Council.  That turned out to cost $60.  I became a member because the additional interest income would have exceeded that amount.  Within days, I received a denial from RiverLand.  Couldn't they have let me know in the first letter that they were not intending to approve my application rather than putting me through this costly charade?



Health

Data for Q4 2013

Institution Health

B

Texas Ratio

GRADE:
A

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 RiverLand Credit Union had $1.69 million in non-current loans and owned real-estate with $15.87 million in equity and loan loss allowances on hand to cover it. This gives RiverLand Credit Union a Texas Ratio of 10.67% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for RiverLand Credit Union decreased slightly from 13.62% as of December 31, 2012 to 10.67% as of December 31, 2013, resulting in a positive change of 21.69%.This indicates that the balance sheet and financial strength for RiverLand Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
C-

In the past year, RiverLand Credit Union has decreased its total deposits by -$6.99 million, resulting in -4.16% 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 RiverLand Credit Union has shown is below average.

Capitalization

GRADE:
C

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. RiverLand Credit Union has $183.04 million in assets with $15.87 million in equity, resulting in a capitalization level of 8.67%, which is average.

Institution Statistics

Overall
NCUA #64534
Year Chartered1978
Employees47
Primary Regulator
Assets and Liabilities
Assets$183.04 million
Loans$160.20 million
Deposits$160.94 million
Equity Capital$15.02 million
Loan Loss Allowance$853,000
Unbacked Noncurrent Loans$1.69 million
Real Estate Owned$0
Historic Data - December 2012
Assets$183.52 million
Equity Capital$13.94 million
Loan Loss Allowance$895,000
Unbacked Noncurrent Loans$1.69 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.55%
Return on Assets0.59%
Return on Equity7.17%
Interest Income$7.48 million
Rates
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Always verify rates and promotions with the bank or credit union. We are not RiverLand Credit Union, we are a rate comparison website and can not provide official rates or promotions.

RiverLand Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.50%--HSA
1.00%$1k-36 Month HSA Certificate
1.00%$1k-60 Month HSA Certificate
0.85%$1k-24 Month HSA Certificate
0.65%$1k-18 Month HSA Certificate
0.50%$1k-12 Month HSA Certificate
0.35%$1k-6 Month HSA Certificate
0.25%$10k-Share (Savings)
0.25%$105-Christmas Club
0.25%$1k-3 Month HSA Certificate

RiverLand Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
1.00%$100-Money Market IRA
1.00%$100-Money Market Roth IRA
1.00%$100-Money Market CESA
0.40%$1k-Money Market Investment
0.40%$25k-Super Money Market
0.15%--Money Market Checking

RiverLand Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-36 Month Certificate
1.00%$1k-60 Month Certificate
0.85%$1k-24 Month Certificate
0.65%$1k-18 Month Certificate
0.50%$1k-12 Month Certificate
0.35%$1k-6 Month Certificate
0.25%$1k-3 Month Certificate

RiverLand Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-36 Month IRA Certificate (Traditional,Roth,CESA)
1.00%$1k-60 Month IRA Certificate (Traditional,Roth,CESA)
0.85%$1k-24 Month IRA Certificate (Traditional,Roth,CESA)
0.65%$1k-18 Month IRA Certificate (Traditional,Roth,CESA)
0.50%$1k-12 Month IRA Certificate (Traditional,Roth,CESA)
0.35%$1k-6 Month IRA Certificate (Traditional,Roth,CESA)
0.25%$1k-3 Month IRA Certificate (Traditional,Roth,CESA)
Locations


RiverLand Credit Union Locations
Branch Office1340 Echelon PkwyJackson, MS 39213-8202
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Branch Office639 Loyola Ave Ste 220New Orleans, LA 70113-3130
Branch Office1001 Virgil StGretna, LA 70053-2332
Branch Office2317 Highway 662Morgan City, LA 70380-8113
Branch OfficeGrand Gulf Nuclear Station 7003 Bald Hill RdPort Gibson, MS 39150
Branch OfficeWaterford 3 Nuclear Station 17265 River RdKillona, LA 70057
Branch Office4809 Jefferson HwyJefferson, LA 70121-3126