Louisiana Corp Credit Union

EIN: 721013943

Metairie, LA

Total Revenue
$9,811,108
Total Expenses
$9,397,713
Total Assets
$182,564,313
Net Assets
$15,646,255
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
LA
Principal Officer
David A Savoie
Phone
5048388250
Tax Period
2024-01-01 to 2024-12-31

Louisiana Corp Credit Union, founded in 1984, is a community nonprofit that reported $9.8M in total revenue in fiscal year 2024. Expenses of $9.4M left a modest 4% surplus.

Mission

Louisiana Corporate Credit Union is a cooperative association organized in accordance with the provisions of the Louisiana Credit Union Act for the purpose of serving credit union accounts through money management and creating a source of credit for its members.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,086,090
Investment Income $8,725,018
Other Revenue $0
TOTAL REVENUE $9,811,108

Expense Breakdown

Grants Paid $0
Salaries & Benefits $951,105
Fundraising Expenses $0
Program Expenses $9,397,713
Other Expenses $8,446,608
TOTAL EXPENSES $9,397,713

Year-over-Year Comparison

2024 2023 Change
Revenue $9,811,108 $9,492,747 +0.0%
Expenses $9,397,713 $8,432,164 +0.1%
Net Income $413,395 $1,060,583 -0.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
5
Employees
8
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$617,434
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
David A Savoie CEO 40.00
Officer Highest
$279,314 $66,749 $346,063
Sherrie Klotz CAO 40.00
Officer Highest
$114,597 $30,612 $145,209
Erin Byrd VP of Operations 40.00
Officer Highest
$116,097 $10,065 $126,162
Melissa Matherne Board SecretaryTreasurer 1.00
Director
$0 $0 $0
Mark Rosa Board Chair 1.00
Director
$0 $0 $0
Mary Vedros Board Vice Chair 1.00
Director
$0 $0 $0
Matt Koch Board Member 1.00
Director
$0 $0 $0
Gary Funderburk Board Member 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $9,811,108 $9,397,713 $182,564,313 $413,395
2023 $9,492,747 $8,432,164 $142,052,131 $1,060,583
2022 $6,131,367 $4,252,245 $149,283,172 $1,879,122
2022 $6,583,884 $4,328,085 $146,939,562 $2,255,799
2022 $6,583,884 $4,328,085 $146,939,562 $2,255,799
2021 $5,071,409 $1,883,387 $225,212,816 $3,188,022
2020 $2,252,248 $2,032,744 $210,880,967 $219,504
2019 $3,970,080 $3,390,063 $128,238,335 $580,017
2018 $3,725,369 $3,359,387 $104,249,775 $365,982
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