Essential Federal Credit Union is headquartered in Baton Rouge and is the 13th largest credit union in the state of Louisiana. It is also the 864th largest credit union in the nation. It was established in 1972 and as of June of 2023, it had grown to 105 employees and 46,038 members at 4 locations. Essential Federal Credit Union's CD rates are 5X 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 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
Great Leadership And Management
I decided to expand my business by opening a new location. Met with Will Campbell, Jr. who immediately helped me work thru all of the "red tape" and getting my loan needs me with ease. So happy to have met these great folks and my business and I will be here for a LONG time to come.
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 With the sum of money being withdrawn he should have been required to go inside the bank.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
Arrogant And Judgmental
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
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
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.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68736 |
| Year Chartered | 1972 |
| Employees | 105 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.38% |
| Return on Equity - YTD | 4.45% |
| Annual Interest Income | $7.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023 | $380.4MM |
| Loans | Q2 2023 | $313.0MM |
| Deposits | Q2 2023 | $342.2MM |
| Equity Capital | Q2 2023 | $32.4MM |
| Loan Loss Allowance | Q2 2023 | $0 |
| Unbacked Noncurrent Loans | Q2 2023 | $2.1MM |
| Real Estate Owned | Q2 2023 | $0 |