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EFCU Financial


Overview / Commentary
www.efcufinancial.org
225-214-6800
10719 Airline Hwy
Baton Rouge, LA 70816-4213

EFCU Financial is headquartered in Baton Rouge and is the 3rd largest credit union in the state of Louisiana. It is also the 447th largest credit union in the nation. It was established in 1934 and as of June of 2023, it had grown to 127 employees and 63,072 members at 8 locations. EFCU Financial's CD rates are 6X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in EFCU Financial is open to those who live, work, worship, or attend school in the Louisiana parishes of Ascension, East Baton Rouge, East Feliciana, Feliciana, Livingston, Point Coupee, St. Helena, West Baton Rouge, or West Iberville. Immediate family or household members of an existing EFCU member are also eligible to join.
See current membership details

Related Posts

[Limited Membership] EFCU 30Mo Jumbo (100K) @ 5.48% APY + 1 Time Bump Still Availalbe - 10/3/2023

For those who qualify to join EFCU (only those who live local in Louisana now are able to join) or for those who are already members, EFCU has an attractive CD. Their 30 month "Bump Up" Jumbo CD (100k) has a compounded rate of 5.48% (the listed non-compounded rate of 5.35% = 5.48% when compounded), plus a 1-time Bump Up Option where, if rates go up, you can call them and get a 1-time rate bump during the term. The EWP is good, too (180 days). Seems a good way to lock in a solid rate (5.48%) for 2.5 years, with the ability to raise the rate higher if rates go up. The only downside is that eligibility to join the CU is limited now to those who live local in Louisana. Ken wrote a blog post in early August about this, but I wanted to post that it's still available. According to Ken's post, partial early withdrawals are not allowed.

EFCU Financial (LA) Jumbo CD Rates Soar To The Top - 8/7/2023

EFCU Financial (6 Louisiana Capital Area parishes) has boosted APYs on its short- and mid-term Jumbo CDs to rate-leading levels. $100k minimum opening deposit.

EFCU Financial Ups Rates On ALL Maturities (12-60 Months) To 4.75%/4.85%/4.95% APY - 2/22/2023

When I took a look at the EFCU rate sheet this evening, I got a big surprise! Effective tomorrow, 2/22/2023, all regular and IRA certificates are the same rate regardless of maturity term for terms between 12 and 60 months. Here are the published rates. Share Certificates ($500+)                4.75% APY Jumbo Certificates ($100,000+)        4.85% APY IRA Certificates ($500+)                   4.85% APY Jumbo IRA Certificates ($100,000+)  4.95% APY Pick your maturity. These rates apply to all of the following. 12-, 18-, 24-, 36-, 48- and 60-month, plus the 30-month + 1 Time Bump certificates. Maybe this is a sign of what is to come from other banks and credit unions. Go here and click on Rates at top of page to download rate sheet. https://w

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Reviews (13)

Hidden Gem

Posted by: |

Good FI to work with and they continue to provide great rates to their customers that live within their field of membership. Keep up the good work EFCU it is definately noticed!

3

Solid Credit Union

Posted by: |

EFCU tries to provide good customer service to its membership as well as high deposit rates.

5

Hard (Pull) To Join.

Posted by: |

Yet another land mine to explode in your face when seeking just to become a member. Find another place unless strong reasons exist to join here. The deposit rates might be one and I was tempted until asking about credit check against non-borrowing applicants. WHY are CU's so fortified against the remote possibility that a depositor might cause a problem someday? Applicants already face soft pulls.

21

Did Not Complete The Application

Posted by: |

The account application was asking many questions unrelated to a typical bank account application. I stopped halfway through the application because I did not feel comfortable giving out irrelevant personal information.

17
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Health
A

Data as of Q2 2023

Learn why bank health matters

Health Grade Components

Overall
NCUA #13
Year Chartered1934
Employees127
Primary Regulator
Profit Margin
Return on Assets - YTD1.17%
Return on Equity - YTD14.25%
Annual Interest Income$20.0MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$955.4MM$794.5MM
LoansQ2 2023vs Q2 2022$848.2MM$730.5MM
DepositsQ2 2023vs Q2 2022$836.9MM$687.8MM
Equity CapitalQ2 2023vs Q2 2022$78.0MM$69.1MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$1.1MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$2.0MM$767.00K
Real Estate OwnedQ2 2023vs Q2 2022$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not EFCU Financial; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

EFCU Financial Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%--IRA Flex Account
0.20%*$10k*-HSA Checking Account
OTHER TIERS: 0.10% → Up to $5k | 0.15% → $5k - $10k
0.10%$5-Share Savings Account
0.10%$5-Business Savings

EFCU Financial Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$50k*-Platinum Money Market Savings
OTHER TIERS: 0.10% → $2.5k - $10k | 0.15% → $10k - $25k | 0.20% → $25k - $50k

EFCU Financial Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.12%*-$10kRewards Checking
OTHER TIERS: 0.50% → $10k+
0.25%*$100k*-Business Interest Checking
OTHER TIERS: 0.15% → $5k - $25k | 0.20% → $25k - $100k

EFCU Financial CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.35%$100k-6 Month Jumbo CD
5.35%$100k-12 Month Jumbo CD
5.35%$100k-18 Month Jumbo CD
5.35%$100k-24 Month Jumbo CD
5.35%$100k-30 Month Bump Option Jumbo CD
5.25%$500-6 Month CD
5.25%$500-12 Month CD
5.25%$500-18 Month CD
5.25%$500-24 Month CD
5.25%$500-30 Month Bump Option CD
4.85%$100k-36 Month Jumbo CD
4.85%$100k-48 Month Jumbo CD
4.85%$100k-60 Month Jumbo CD
4.75%$500-36 Month CD
4.75%$500-48 Month CD
4.75%$500-60 Month CD

EFCU Financial IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.45%$100k-6 Month Jumbo IRA
5.45%$100k-12 Month Jumbo IRA
5.45%$100k-18 Month Jumbo IRA
5.45%$100k-24 Month Jumbo IRA
5.45%$100k-30 Month Bump Option Jumbo IRA
5.35%$500-6 Month IRA
5.35%$500-12 Month IRA
5.35%$500-18 Month IRA
5.35%$500-24 Month IRA
5.35%$500-30 Month Bump Option IRA
4.95%$100k-36 Month Jumbo IRA
4.95%$100k-48 Month Jumbo IRA
4.95%$100k-60 Month Jumbo IRA
4.85%$500-36 Month IRA
4.85%$500-48 Month IRA
4.85%$500-60 Month IRA
Locations


EFCU Financial Locations
Branch Office7822 Magnolia Beach RdDenham Springs, LA 70726
Branch Office3861 Scenic HwyBaton Rouge, LA 70805
Branch Office15026 Market StBaton Rouge, LA 70817
Branch Office1804 Church StZachary, LA 70791
Branch Office1508 S Burnside AveGonzales, LA 70737-4405
Branch Office17235 Old Jefferson HwyPrairieville, LA 70769
Branch Office3663 Monterrey DrBaton Rouge, LA 70814-2920
Branch Office9210 Perkins RdBaton Rouge, LA 70810

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