Jefferson Financial Federal Credit Union
Jefferson Financial Federal Credit Union is headquartered in Metairie and is the 9th largest credit union in the state of Louisiana. It is also the 594th largest credit union in the nation. It was established in 1966 and as of December of 2024, it had grown to 146 employees and 43,370 members at 16 locations. Jefferson Financial Federal Credit Union's CD rates are 4X the national average, and it has a C+ health rating.
Field of Membership Restrictions
Membership in Jefferson Financial Credit Union is open to individuals who live, work, worship, or attend in the Louisiana parishes of Calcasieu, Cameron, Jefferson, Livingston, Orleans, or St. Tammany, or the Alabama counties of Autauga, Dallas, Chilton, Lowndes, Perry, or Wilcox. Staff and students of the Bossier Parish, Caddo Parish, or East Baton Rouge Parish school systems and staff members of the St. James Parish or St. Charles Parish school systems also qualify. Employees of nearly 200 Select Employer Groups (listed on the Credit Union’s website), including Ochsner Health System and the Louisiana Department of Transportation, are eligible to join.
See current membership details
Don't Walk, Run
I have had payroll deposits on hold, every check rather an automatic deposit or physical deposit there is a three day hold or payroll checks are pending and funds are not available until the credit union opens at 9am. I've been a member for over 12 years and still the same crap with holding my own funds. Well, that not good business practices so I'm closing this account. We have too many choices of banks and credit unions to put up with JFCU crap.
Stay Away; Bad Customer Service And Poor Leadership
If you are thinking of getting a mortgage with them, please DO NOT. I was dealing with Richard Recile at the Metairie Branch, who was rude from the very first conversation we had. I had multiple questions about the process before submitting my app and he told me that he have a problem if he has to keep repeating himself. These weren't repetitive questions, so I was confused. I had a construction loan with another credit union for a home I was building & wanted to get more information on the process for permanent financing. He was so ugly to me every time I called. There is a branch located in the building I work in. I am familiar with the manger because I have worked here nearly 20 years. I went down to talk to about Mr. Recile's behavior & she was in awe. I wanted to work with someone else, but was told he was the only loan officer at the time & the mortgage branch in our building had closed & I had to go to the Metairie Branch for mortgages. At this time the rates were rising & JFFCU was offering a 3.125 interest rate. I called him back again and asked for details and he said that the rate would be good for 120 days. This was very good at the time, so I decided to submit my application. After being approved & the rate lock docs were sent, I noticed the date did not reflect the 120 days. So, I called him. He stated that they typically don't put the 120 days on the document, but if an extension was needed, one could be granted (LESSON LEARNED for being so trusting, especially of someone that had been so unpleasant). I was in the process of building a home when material shortages were common & laborers were scarce. It literally took me 3 months to get windows & doors. This is why I was concerned about the time granted. Things happen... and things did happen. After I thought I had everything wrapped up, I applied for my occupancy permit. After the parish inspection, it was granted and emailed to me. A couple of days after I received the occupancy permit, my husband and I went to the house and discovered a foul smell and contacted the parish. After getting the plumber back out the following week, it was discovered that the plumbing for the sewer clean out wasn't tied into the public sewer line and was missed by the parish inspector. We should have not received the permit & needed to get the sewer tied into the main sewer line. We had to wait for the plumber, as he had other jobs. With Memorial Day coming that Monday, we could not get it fixed until the next week. I contacted Mr. Recile & explained these issues to him. The week of June 6th I called Mr. Recile & I asked him about the appraisal & closing processes. He said it was about a 3 week process. I said that my rate lock would expire on 06/23/2022. He said no it had already expired in May and I told him it had not. He verified that it had not expired and told me that if I needed an extension I would be granted one but I wouldn't need the 120 days, maybe a week or two. Well, just know that he did not honor the 120 days originally guaranteed. I spoke with him on the 16th of June. He told me to submit my docs. I did so. He responded & thanked me, asked who would be the contact for the appraisal & verified my title company. Well, the following Tuesday, he sent me an email informing me that the rate would be 5.125%. I called & asked why the rate wasn't honored, he blamed it on his superiors. None of them would even take my calls. He blatantly lied to his superiors & me. He even lied to his boss about calling asking me certain questions, but this man has never called me; not once! NEVER! After all I had dealt with from him, I started recording our calls. The phone recordings that I plan to release on every media outlet possible exposes of all his lies & how he promised to reach out to his friends in lending because he felt like what happened to me was his fault & he needed to do something, he didn't do it on purpose, he should have made his superiors put it in writing, he's going to repent, .. blah, blah, blah! JFFCU doesn't know who he is, but recordings don't lie. I would respect the people in charge more if they actually cared about what the member has to say, I stead of hiding behind the lies. There is such poor management and leadership! Thank God my bank of 20 plus years was able to give a rate in the 3's (not 3.125 though). To them I am forever grateful! STAY AWAY!
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24871 |
| Year Chartered | 1966 |
| Employees | 146 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -1.44% |
| Return on Equity - YTD | -24.11% |
| Annual Interest Income | $32.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $703.8MM$754.4MM |
| Loans | Q4 2024vs Q4 2023 | $471.4MM$509.3MM |
| Deposits | Q4 2024vs Q4 2023 | $501.9MM$535.4MM |
| Equity Capital | Q4 2024vs Q4 2023 | $42.2MM$52.7MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $7.2MM$7.6MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $10.4MM$17.9MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $112K$0 |
