Cf-La Credit Union
- Assets
- $7.7m
- Revenue
- $233.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Donaldsonville, LA
- Founding
- 09/1969
- Data as of
- 12/2023
- EIN
- 72-0868372
Organization Overview
Cf-La Credit Union is located in Donaldsonville, LA. The organization was established in 1969. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Cf-La Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2023, Cf-La Credit Union generated $233.2k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $222.6k during the year ending 12/2023. While expenses have increased by 4.7% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CF-LA CREDIT UNION IS A FINANCIAL INSTITUTION THAT PROVIDES AFFORDABLE BANKING SERVICES TO THEIR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTITUTION PROVIDES AFFORDABLE BANKING SERVICES TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Duane Lee President | Trustee | 2 | $0 |
Toni Simon Secretary | Trustee | 1 | $0 |
Lyndon Pousson Jr Treasurer | Trustee | 1 | $0 |
Brian Janis Vice President | Trustee | 1 | $0 |
Yvonne Cortez Member | Trustee | 1 | $0 |
Jarett Daigle Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $183,909 |
| Investment income | $46,032 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $233,218 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $90,399 |
| Pension plan accruals and contributions | $7,500 |
| Other employee benefits | $21,775 |
| Payroll taxes | $6,952 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $47,244 |
| Advertising and promotion | $0 |
| Office expenses | $9,265 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,676 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,454 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,905 |
| Insurance | $6,286 |
| All other expenses | $270 |
| Total functional expenses | $222,582 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $337,986 |
| Savings and temporary cash investments | $3,082,967 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,172,637 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,684 |
| Net Land, buildings, and equipment | $4,463 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $94,114 |
| Total assets | $7,698,851 |
| Accounts payable and accrued expenses | $3,807 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,915 |
| Total liabilities | $6,722 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $6,458,848 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,233,281 |
| Total liabilities and net assets/fund balances | $7,698,851 |