Jefferson Financial Federal Credit Union is headquartered in Metairie and is the 2nd largest credit union in the state of Louisiana. It is also the 321st largest credit union in the nation. It was established in 1966 and as of December of 2018, it had grown to 178 employees and 55,419 members at 18 locations. Jefferson Financial Federal Credit Union has a B health rating.
Membership in Jefferson Financial Credit Union is open to individuals who live, attend school, worship or work 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
If you are thinking of opening an account at JFCU, you will probably be okay, just NEVER CLOSE THE ACCOUNT.
I got married and switched banks to a joint account with my husband, which meant leaving JFCU. His brother is a banker so of course, family loyalty, had to go elsewhere despite not really having any major issues with JFCU prior to leaving.
Anyhow, I left the account open for a while to let any pending/automatic transactions clear out. At some point I received a letter saying that the account was negative because I forgot about one auto-draft. Knowing that was the last one, I sent a check for the amount due on April 14, 2014.
With that check, I also sent a signed request for them to close the account immediately.
I didn't hear from them for 2.5 years, so one would assume it was all good. No statements, no junk mail, nothing. Account closed, end of story, right?
Fast forward to Summer of 2016, when I receive a bill for $48.29 from a collection agency claiming that I owe this money to JFCU. Clearly this is an error, so I kindly write back wanting an explanation.
Turns out PayPal still somehow had that account # listed in my account, and Netflix decided to try and pull from that account. Had the account been CLOSED like I requested back in 2014, this would be a non-issue - PayPal would just receive an error and that would be the end of it. But no. They never closed the account! So, they treated it like a NSF transaction, declined the charge, and added on some lovely fees & tried to collect.
Despite my repeat attempts to reason with these people, since it's their error, they now placed a "past due" account of $90 (magically increased from $48.29) on my credit report.
In short, DON'T USE THIS CREDIT UNION.
I was 32 or 34 days late on an auto loan. I went to the branch to make 2 payments: one for the past due and another for the one currently due. The teller said she couldn't accept my money, handed me a piece of paper with the name "Joe" on it and a cell phone number! JFCU turned me over to an UNLICENSED repossession company for being ONE month late. They also did this without providing any kind of notice which is in BREACH of contract that I signed when I purchased the vehicle (and is also in violation of state law - La RS 6:966). I filed a complaint with the Attorney General's office in an attempt to peacefully resolve the matter. I expected their Compliance Officer to respond and address the issue of the laws they violated and reimburse the "collection fee". Instead, I received an elementary-versed letter by their Collections Manager! It was packed full of lies and allegations of deceipt on my part! The letter ended with a "good faith" offer to credit my account a portion of the fee.
I am considering my options at this point, but whatever you do - DO NOT CHOOSE THIS INSTITUTION!
I have been banking with Jefferson Parish School Board Employees Credit Union for over 15 years now, and I have never had a single problem with them. Now that Jefferson Financial has taken over, I have had nothing but problems. Over the last year or so, I have sent them 3 different emails, and they have not responded to a single one. When they started with the new online service, they failed to notify me that they changed my account number. I "accidentally" figured it out by playing with a combination of numbers. One of my emails was regarding this matter, which I feel is a pretty important matter. Another email I wrote was to notify them of an error I received from their online site that told me to contact them and give them the error code. My email with the error information was obviously not important enough for them to deal with because they have not responded and the error has not been corrected. I have to make SEVERAL ATTEMPTS to log in before it MIGHT actually sign on to my account. Just this week my husband and I endorsed a check, went to the bank (together), and offered our ID's to make this deposit. Because the account was not a JOINT account, but yet the check had both our names on it, THEY REFUSED TO TAKE THE CHECK!! For years I have been able to deposit a joint check from taxes or from other similar means into my SOLO account with just us both endorsing it. We weren't asking for cash from the check nor were we trying to scam anyone. We had our STATE ISSUED ID's with us as proof. I have had so many friends and family members tell me of their many problems with this company. They charge a penalty fee for pending charges that do not even exist. HUNDREDS OF DOLLARS HAVE BEEN STOLEN FROM US AND OTHER FAMIY MEMBERS BECAUSE OF PENDING CHARGES THAT NEVER EXISTED!! DONT WASTE YOUR TIME OR YOUR MONEY! THEY WILL NOT RETURN YOUR CALL OR YOUR EMAILS!!
|Return on Assets - YTD||0.83%|
|Return on Equity - YTD||11.18%|
|Annual Interest Income||$38.9MM|
|Assets and Liabilities|
|Assets||Q4 2018vs Q4 2017||$963.2MM$890.3MM|
|Loans||Q4 2018vs Q4 2017||$623.5MM$553.5MM|
|Deposits||Q4 2018vs Q4 2017||$689.5MM$735.2MM|
|Equity Capital||Q4 2018vs Q4 2017||$70.5MM$65.3MM|
|Secondary Capital||Q4 2018vs Q4 2017||$11.6MM|
|Loan Loss Allowance||Q4 2018vs Q4 2017||$3.7MM$6.9MM|
|Unbacked Noncurrent Loans||Q4 2018vs Q4 2017||$5.3MM$3.7MM|
|Real Estate Owned||Q4 2018vs Q4 2017||$296.00K$318.00K|
Rates for Jefferson Financial Federal Credit Union are currently being reviewed.