Essential Federal Credit Union


Overview / Commentary
225-353-8238
2370 Towne Center Blvd
Baton Rouge, LA 70806

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 857th largest credit union in the nation. It was established in 1972 and as of June of 2021, it had grown to 100 employees and 41,865 members at 4 locations. Essential Federal Credit Union has an A 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.
See current membership details

Related Posts

Essential Federal Credit Union Raises Rate On Rewards Checking - 7/8/2021

Essential Federal Credit Union (Baton Rouge area, LA) has raised the rate on its competitive rewards checking account, Key Checking, by 50 bps.

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Reviews (5)

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 With the sum of money being withdrawn he should have been required to go inside the bank.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

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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

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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

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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
Employees100
Primary Regulator
Profit Margin
Return on Assets - YTD0.89%
Return on Equity - YTD10.78%
Annual Interest Income$6.0MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$359.7MM$328.8MM
LoansQ2 2021vs Q2 2020$260.9MM$218.3MM
DepositsQ2 2021vs Q2 2020$329.0MM$299.7MM
Equity CapitalQ2 2021vs Q2 2020$30.0MM$27.3MM
Loan Loss AllowanceQ2 2021vs Q2 2020$1.4MM$2.0MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$870.00K$1.4MM
Real Estate OwnedQ2 2021vs Q2 2020$47.00K$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
0.25%*$20k*-IRA Savings Account
OTHER TIERS: 0.05% $100 - $2k | 0.10% $2k - $5k | 0.15% $5k - $10k | 0.20% $10k - $20k
0.20%*$100k*-Business Savings Account
OTHER TIERS: 0.10% $250 - $25k | 0.15% $25k - $100k
0.05%$5-Savings Account
0.05%$5-Christmas Club
0.05%$5-Start-Up Account

Essential Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.16%*$25k*-Money Market Account
OTHER TIERS: 0.10% $1k - $10k | 0.15% $10k - $25k

Essential Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%*-$10kKey Checking
OTHER TIERS: 0.30% $10k+

Essential Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%$500$10k60 Month Certificate
0.80%$500$10k48 Month Certificate
0.70%$500$10k36 Month Certificate
0.60%$500$10k24 Month Certificate
0.40%$500$10k18 Month Certificate
0.30%$500$10k12 Month Certificate
0.15%$500$10k6 Month Certificate
0.10%$500$10k3 Month Certificate

Essential Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%$500$10k60 Month IRA
0.80%$500$10k48 Month IRA
0.70%$500$10k36 Month IRA
0.60%$500$10k24 Month IRA
0.40%$500$10k18 Month IRA
0.30%$500$10k12 Month IRA
0.15%$500$10k6 Month IRA
0.10%$500$10k3 Month IRA
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

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