INSTEP Credit Union

INSTEP Credit Union

Overview / Commentary
400 Russell Ave Bldg 509
New Orleans, LA 70143

INSTEP Credit Union is headquartered in New Orleans and is the 46th largest credit union in the state of Louisiana. It is also the 2,512th largest credit union in the nation. It was established in 1948 and as of September of 2022, it had grown to 25 employees and 5,368 members at 2 locations. INSTEP Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership is open to active and reserve military personnel and retirees, employees of the Federal Civil Service and members of the VFW, First District of Louisiana.
See current membership details

Reviews (2)

Awesome Bank

I have had both a Checking and Savings Accounts with this bank for 10 plus years. I have my military checks direct deposited into my Savings when I get paid and it is always a day early. There is a mobile app where you can check your account at all times and mobile checking. I like this feature! If there is any fraudulent activity on my account they send me an email to approve it or let them it was authorized. They are part of the CO-OP Shared Branch Networks so I can deposit money and access my money anywhere I go in multiple states. I just look up the network online and check the closest location. So, locations are always conveniently close to me no matter where I am located.

Disappointed Member

I have been a long term member with NAS JRB Credit Union for over 18 years. I’ve had many loans in good standings. I recently applied for a loan 7/2/2018. I was told u been approved just provide the following documentation etc. I provided it and followed up and didnt hear back for a week or two. I finally hear back with new requested documentation. I send the new documentation and follow up by email, phone calls and voicemails just to hear back a week later by email saying I will call you back tomorrow and don’t receive a call back, so I continue to call back for days and finally get in touch with the loan officer just to receive the same info we discussed the first time. This has been on going circus since early July. I have provided the requested info then I finally get a call back saying sorry it’s not going to work bc ur registration was expired on the car we’re trying to refinance for collateral. I sent in a copy of the current registration. I call to follow up about the registration and don’t hear back for a couple of days. When I finally hear back you are now there telling me sorry we can’t approve you. Why not tell me this in the beginning instead of having me provide info for 2 months and making me think I was approved just to find out months later we can’t do anything for you. This should of been brought to my attention early July not the 28 August. I felt like I was put on the back burner and was given the run around for the past 2 months. I have never had this issue with NAS JRB Credit. Either u can do it or u can’t. Don’t make me wait 2 months after you’ve told me yes I’ve been approved to tell me sorry there’s nothing we can do for you. Is this how you treat long term members of your credit union? I Will never do business with NAS JRB Credit Union again.

Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. INSTEP Credit Union has a relatively low asset base.

Health Grade Components

NCUA #60842
Year Chartered1948
Primary Regulator
Profit Margin
Return on Assets - YTD0.98%
Return on Equity - YTD6.44%
Annual Interest Income$1.9MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$50.7MM$49.0MM
LoansQ3 2022vs Q3 2021$33.9MM$31.9MM
DepositsQ3 2022vs Q3 2021$42.6MM$41.6MM
Equity CapitalQ3 2022vs Q3 2021$7.8MM$7.2MM
Loan Loss AllowanceQ3 2022vs Q3 2021$314.00K$212.00K
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$514.00K$256.00K
Real Estate OwnedQ3 2022vs Q3 2021$0$0

Rates for INSTEP Credit Union are currently being reviewed.


INSTEP Credit Union Locations
Branch Office400 Russell Ave Bldg 509New Orleans, LA 70143-5077
Branch Office7532 Highway 23 Suite ABelle Chasse, LA 70037

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