Essential Federal Credit Union
Headquarters
Po Box 738
Plaquemine, LA 70765
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2024 Overview
General Credit Union Information
Essential is an NCUA insured institution located in Plaquemine, LA. It was founded in 1972 and has approximately $394.22 millions in assets.
Who can join?
The field of membership includes the nine parishes of the Greater Baton Rouge Community! Now, anyone who lives, works, worships or attends school in the following parishes may join Dow Louisiana Federal Credit Union: East Baton Rouge, West Baton Rouge, East Feliciana, West Feliciana, Ascension, Livingston, Iberville, Pointe Coupee, and St. Helena.
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 20972 |
| Date Established | 1972 |
| Assets | $394.22 million |
| Loans | $317.69 million |
| Deposits | $346.03 million |
| Capital | $33.09 million |
Field of Membership Restrictions
Membership in Essential Federal Credit Union is open to those who live, work, worship or attend school in the parishes of East Baton Rouge, West Baton Rouge, East Feliciana, West Feliciana, Ascension, Livingston, Iberville, Pointe Coupee, and St. Helena.
Deposit Rates - November 25, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| Savings
|
0.10% | $2,500 | $4,999 |
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|
|
Money Market
|
0.10% | $2,500 | $2,999 |
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|
|
Money Market
|
0.20% | $10,000 | $14,999 |
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|
|
Money Market
|
0.20% | $25,000 | $29,999 |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Mo CD
|
0.40% | $10,000 | $14,999 |
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|
| 6 Mo CD
|
0.40% | $100,000 | $199,999 |
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|
| 12 Mo CD
|
0.50% | $10,000 | $14,999 |
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|
| 12 Mo CD
|
0.50% | $100,000 | $199,999 |
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|
| 18 Mo CD
|
0.60% | $10,000 | $14,999 |
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|
| 18 Mo CD
|
0.60% | $100,000 | $199,999 |
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|
| 24 Mo CD
|
0.70% | $10,000 | $14,999 |
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|
| 24 Mo CD
|
0.70% | $100,000 | $199,999 |
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|
| 36 Mo CD
|
0.90% | $10,000 | $14,999 |
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|
| 36 Mo CD
|
0.90% | $100,000 | $199,999 |
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|
| 48 Mo CD
|
0.95% | $10,000 | $14,999 |
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|
| 48 Mo CD
|
0.95% | $100,000 | $199,999 |
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|
| 60 Mo CD
|
1.00% | $10,000 | $14,999 |
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|
| 60 Mo CD
|
1.00% | $100,000 | $199,999 |
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|
Loan Rates - November 25, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Essential
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 1025894 |
6.710% | 6.625% | 0.63 | $2,818 | $2,049 | Learn More |
NMLS ID: 401822 |
7.034% | 6.875% | 1.00 | $5,195 | $2,103 | Learn More |
NMLS ID: 3030 |
7.212% | 7.125% | 0.88 | $2,800 | $2,156 | Learn More |
NMLS ID: 3029 |
Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
Intro APR 7.240 % After Intro: 7.240 % |
$0 |
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More Info |
Note to Essential
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Branches
Below are Essential branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Essential Locations around zip code 43085
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 776.84 | A | View Lobby Hours | |
| 787.54 | B | View Lobby Hours | |
| 791.99 | C | View Lobby Hours | |
| 797.29 | D | View Lobby Hours |
Climate Policy and Initiatives
ESSENTIAL is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
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Financial Details
Essential Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Essential. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Essential | U.S. Average |
|---|---|
| 27.32% | 5.83 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of June 30, 2024, Essential had $9,286,815 in non-current loans and $178,829 in owned assets. To cover these potential losses it had $33,088,926 in net worth and $1,554,264 in loans loss reserves. That gives it a Texas Ratio of 27.32%.
Net Worth
| Essential | U.S. Average |
|---|---|
| 8.39% | 13.93% |
Essential FCU has a net worth of 8.39% versus the BestCashCow average of 13.93. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Customer Reviews for Essential
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