EFCU Financial is headquartered in Baton Rouge and is the 3rd largest credit union in the state of Louisiana. It is also the 461st largest credit union in the nation. It was established in 1934 and as of September of 2022, it had grown to 122 employees and 60,242 members at 8 locations. EFCU Financial's CD rates are 5X the national average, and it has an A health rating.
Membership in EFCU Financial is open to all U.S. citizens/resident aliens by joining the EFCU Financial Foundation or the Louisiana Wildlife Foundation. Individuals 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 are also eligible to join. Membership is also open to immediate family of existing members.
See current membership details
Well, we applied on August 11th. Kept my phone with me for days...Called several times and was told someone would get back to us. Well I think we fell through the cracks. However, when we were contacted by Tim Borgmeyer, Assistant Vice President, he took excellent care of us. He personally helped us navigate all of the forms and issues. He was extremely knowledgeable and knew that getting our IRA out of Navy Federal might take some doing. He was right, however he kept us informed, he was patient while we were getting the money transferred and he called us as soon as our IRA and CD money arrived at efcu. He then put them into our accounts and gave us the 4.0 and 4.2 APY. We called him many, many times and he always got right back to us and made us feel very comfortable about working with this credit union. efcu kept their word!
Happy to be a member here!!
Out of stater opened membership/CD account. Process was as expected, hard pull from Equifax, provide driver’s license photo ID, one-time membership donation and fund both accounts by combination of check, ACH and wire transfer. Membership Service Reps were quick to respond to email and phone calls, quite knowledgeable and very helpful; thank you Jenna T. and Kenyetta R. for your assistance.
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.
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.
Overall | |
---|---|
NCUA # | 13 |
Year Chartered | 1934 |
Employees | 122 |
Primary Regulator |
Profit Margin | |
---|---|
Return on Assets - YTD | 1.39% |
Return on Equity - YTD | 16.46% |
Annual Interest Income | $19.9MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q3 2022vs Q3 2021 | $911.4MM$705.2MM |
Loans | Q3 2022vs Q3 2021 | $762.7MM$583.4MM |
Deposits | Q3 2022vs Q3 2021 | $817.1MM$612.7MM |
Equity Capital | Q3 2022vs Q3 2021 | $71.8MM$59.8MM |
Loan Loss Allowance | Q3 2022vs Q3 2021 | $889.00K$1.4MM |
Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $1.3MM$404.00K |
Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |
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.
APY | MIN | MAX | ACCOUNT NAME | VIEW 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 |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.25%* | $50k* | - | Platinum Money Market Savings | ||
OTHER TIERS: 0.10% → $2.5k - $10k | 0.15% → $10k - $25k | 0.20% → $25k - $50k |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
3.01%* | - | $10k | Rewards Checking | ||
OTHER TIERS: 0.25% → $10k+ | |||||
0.25%* | $100k* | - | Business Interest Checking | ||
OTHER TIERS: 0.15% → $5k - $25k | 0.20% → $25k - $100k |
EFCU Financial Locations | ||
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Branch Office | 7822 Magnolia Beach Rd | Denham Springs, LA 70726 |
Branch Office | 3861 Scenic Hwy | Baton Rouge, LA 70805 |
Branch Office | 15026 Market St | Baton Rouge, LA 70817 |
Branch Office | 1804 Church St | Zachary, LA 70791 |
Branch Office | 1508 S Burnside Ave | Gonzales, LA 70737-4405 |
Branch Office | 17235 Old Jefferson Hwy | Prairieville, LA 70769 |
Branch Office | 3663 Monterrey Dr | Baton Rouge, LA 70814-2920 |
Branch Office | 9210 Perkins Rd | Baton Rouge, LA 70810 |