Essential Federal Credit Union


Overview / Commentary
225-353-8238
2370 Towne Center Blvd
Baton Rouge, LA 70706

Essential Federal Credit Union is headquartered in Baton Rouge and is the 10th largest credit union in the state of Louisiana. It is also the 771st largest credit union in the nation. It was established in 1972 and as of June of 2019, it had grown to 107 employees and 37,704 members at 7 locations. Essential Federal Credit Union's CD rates are 3X the national average, and it has a B health rating.

Field of Membership Restrictions

Membership in Essential Federal Credit Union is open to those who live, work, worship or attend school in the parishes of East Baton Rouge, West Baton Rouge, East Feliciana, West Feliciana, Ascension, Livingston, Iberville, Pointe Coupee, and St. Helena.
See current membership details

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Reviews (3)

Arrogant And Judgmental

Posted by: JeremyB | Jun 5, 2019

Tried setting up a second account, Employee was very helpful at first but immediately became irritated when I refused to answer personal questions. Though I was being interrogated. Did not feel like a customer or member

Sinking Ship

Posted by: FrankA | Jun 4, 2019

Was charged fees in contradiction to their published rules. Then lied about it. Cost me hours of time to prove the obvious but had no effect. I recommend every member find another institution for savings and investments, this ship is sinking

Wrong Direction

Posted by: svetdan | Jan 9, 2019

Forcing customers to change their account password every 180 days is proven to make your account less secure, not to mention the inconvenience, confusion, loss man hours etc.... Unless there has been a security breach this practice should be motivation to move your banking elsewhere. I have been a member since the 70s. and now searching for other banking options.



Health

Health Grade Components

Overall
NCUA #20972
Year Chartered1972
Employees107
Primary Regulator
Profit Margin
Return on Assets - YTD0.41%
Return on Equity - YTD4.9%
Annual Interest Income$6.9MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$333.1MM$307.5MM
LoansQ2 2019vs Q2 2018$246.8MM$260.1MM
DepositsQ2 2019vs Q2 2018$300.6MM$278.3MM
Equity CapitalQ2 2019vs Q2 2018$28.1MM$25.0MM
Loan Loss AllowanceQ2 2019vs Q2 2018$1.9MM$2.0MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$4.1MM$2.5MM
Real Estate OwnedQ2 2019vs Q2 2018$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Essential Federal Credit Union; 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.

Essential Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$20k*-IRA Savings Account
OTHER TIERS: 0.10% $100 - $2k | 0.15% $2k - $5k | 0.20% $5k - $10k | 0.25% $10k - $20k
0.20%*$100k*-Business Savings Account
OTHER TIERS: 0.10% $250 - $25k | 0.15% $25k - $100k
0.15%$5-Christmas Club
0.15%$5-Start-Up Account
0.10%$5-Savings Account

Essential Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.55%*$25k*-Money Market Account
OTHER TIERS: 0.30% $1k - $10k | 0.35% $10k - $25k

Essential Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%-$10kKey Checking

Essential Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.87%$500$10k60 Month Regular Certificate
2.65%$500$10k48 Month Regular Certificate
2.55%$500$10k36 Month Regular Certificate
2.45%$500$10k24 Month Regular Certificate
2.35%$500$10k18 Month Regular Certificate
2.25%$500$10k12 Month Regular Certificate
1.55%$500$10k6 Month Regular Certificate
0.85%$500$10k3 Month Regular Certificate

Essential Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.87%$500$10k60 Month Regular IRA Certificate
2.65%$500$10k48 Month Regular IRA Certificate
2.55%$500$10k36 Month Regular IRA Certificate
2.45%$500$10k24 Month Regular IRA Certificate
2.35%$500$10k18 Month Regular IRA Certificate
2.25%$500$10k12 Month Regular IRA Certificate
1.55%$500$10k6 Month Regular IRA Certificate
0.85%$500$10k3 Month Regular IRA Certificate
Locations


Essential Federal Credit Union Locations
Branch Office21925 Highway 1Plaquemine, LA 70764-5132
Branch Office6725 Siegen Ln Suite KBaton Rouge, LA 70809
Branch Office1051 N Airline HwyGonzales, LA 70737
Branch Office28645 Walker Rd SWalker, LA 70785
Branch Office10513 Sullivan RdBaton Rouge, LA 70818-4134
Branch Office2312 False River Dr Ste ANew Roads, LA 70760-2530
Corporate Office2370 Towne Center BLVDBaton Rouge, LA 70806

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