Essential Credit Union
Essential Credit Union is headquartered in Baton Rouge and is the 14th largest credit union in the state of Louisiana. It is also the 865th largest credit union in the nation. It was established in 1972 and as of December of 2024, it had grown to 109 employees and 43,011 members at 5 locations. Essential Credit Union has a B health rating.
Field of Membership Restrictions
Membership in Essential Credit Union is open to those who live, work, worship, or attend school in the Louisiana parishes of Ascension, East Baton Rouge, East Feliciana, Iberville, Livingston, Pointe Coupee, St. Helena, West Baton Rouge, or West Feliciana. Members of the Louisiana Wildlife and Fisheries Foundation are also eligible for membership.
See current membership details
Essential Federal Credit Union Needs To Be Shutdown For Good And Ever!!
Essential Federal Credit Union needs to be shutdown immediately for good and ever. Please don’t hesitate calling me idiots, The people at Essential Federal Credit Union Banks are complete morons!!
Horrible Experience
I have had the worst experience with this bank, specifically dealing with Ron Riley the "the committee" as he stated that he is the one that make decisions. I was default on my commercial loan by 2 payments, however, after attempting to make the whole payment, I was denied. Ron Riley claims they sent me a demand letter that I signed off making me responsible to pay my entire loan in full. This was bogus and untrue. I never signed anything and after attempting to explain my situation, this man told me that it didn't matter, but "they" were tired of my account being in default (only happened twice this year) and they just wanted me to pay the loan in full $115K or they will start foreclosure processing. They did not try to offer me any relief or simple allow me to pay my missed 2 payments. He told me that I have 30 days. It was like I was dismissed and discarded like trash. I would not recommend anyone to get a loan with this Bank as they are only concern about what benefits them and not concern about their customers. I been with this bank since 2014 starting with a balance of $144k. I've always paid my notes within 30 days. I admit since Covid, within the last year, I did have those 2 missed payments, however, I still made the payments.
BEWARE!! Bank Lets Theft Happen Thru Drive Thru
our money was never refunded to our account. We’ve done everything required as far as, filling a police report, brought copy to the bank, etc. No one can answer when the funds will be returned. The bank manager has no clue whence how long it will take. We are tired of getting no answers. This is ridiculous. He should have never been allowed to withdraw the funds thru drive thru with his face pretty much fully covered, hot as hell outside. Not to mention the passengers face was fully covered,, as well!! With the sum of money being withdrawn he should have been required to go inside the bank.
What pisses me off more than anything. The tellers whom allowed this to take place m, not one but three times. Still are employed.
When asked about their positions and if they were even reprimanded. I was told they followed procedures.
Funniest part, when entering the bank there’s a sign asking customers to please not have, hats, sunglasses and face mask on for security purposes . I’m guessing because you cannot see ones face when it’s fully covered. So why is drive thru any different ?!! We are losing business.. Our utilities are past due and will be disconnected of on 6/9/21.
The financial ruin is inevitable as of this week we will have no lights, water, our home will be placed in forcloser . Our insurance has been canceled .. etc etc etc.
We get an,I DONT KNOW. I HAVE NO IDEA answer to the question, when will the funds be returned!!!
I need answers . Tomorrow morning I will start calling and emailing , news outlets, social media and every entity or outlet to get some help/assistance . I will also retain counsel. This should have never happened . The first 1500 maybe but not 2 more times . The employees whom allowed him to withdraw the funds should have been fired. I doubt they even looked up at the screen to see if it was Kurt. Nor compared the handwriting to kurts. There’s no way they followed procedures. If so, Essentials needs to reevaluate company procedures
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68736 |
| Year Chartered | 1972 |
| Employees | 109 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.69% |
| Return on Equity - YTD | -9.28% |
| Annual Interest Income | $19.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $391MM$386.4MM |
| Loans | Q4 2024vs Q4 2023 | $315.3MM$318.7MM |
| Deposits | Q4 2024vs Q4 2023 | $344.8MM$338.6MM |
| Equity Capital | Q4 2024vs Q4 2023 | $29MM$31.6MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $4.4MM$3MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $3.5MM$3.2MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $97K$0 |