Question 1

What is Louisiana Washington Educational Association Credit Union (LA Washington Educators CU)?

Accepted Answer

Louisiana Washington Educational Association Credit Union, commonly known as LA Washington Educators CU, is a small, community-focused federal credit union serving educational professionals in Washington Parish, Louisiana. With approximately $1.05 million in assets and 368 members, this credit union operates as a specialized financial cooperative dedicated to teachers, school staff, and their families in the local school system.

The credit union holds a low-income designation from the NCUA, reflecting its commitment to serving underserved communities in rural Louisiana.

Question 2

When was Louisiana Washington Educational Association Credit Union (LA Washington Educators CU) founded?

Accepted Answer

[Information not publicly available]. As a federal credit union with charter number 16256, LA Washington Educators CU was established to provide accessible financial services to education professionals in Washington Parish, Louisiana. The credit union has maintained its focus on serving the educational community in the Franklinton area throughout its history.

Question 3

Where is Louisiana Washington Educational Association Credit Union (LA Washington Educators CU) headquartered?

Accepted Answer

LA Washington Educators CU is headquartered at 308 11th Avenue in Franklinton, Louisiana. Franklinton serves as the seat of Washington Parish and is home to the Washington Parish School Board, which oversees the local school system serving approximately 4,770 students across 10 schools with 335 teachers.

Question 4

Where does Louisiana Washington Educational Association Credit Union (LA Washington Educators CU) operate?

Accepted Answer

The credit union primarily serves members affiliated with the educational system in Washington Parish, Louisiana. This includes teachers, administrators, support staff, and their immediate family members working within the Washington Parish School System. The parish includes communities such as Franklinton, Varnado, Pine, Angie, Mt. Hermon, and surrounding unincorporated areas.

Membership is typically restricted to those with connections to the educational association and school system in Washington Parish.

Question 5

What services does Louisiana Washington Educational Association Credit Union (LA Washington Educators CU) offer?

Accepted Answer

As a small community credit union, LA Washington Educators CU provides essential financial services to its members, including:

Savings and Share Accounts: Member share accounts that serve as both savings vehicles and the foundation of credit union ownership.

Loans: Consumer lending products to help members with personal financial needs, with approximately $535,635 in total loans outstanding.

Member Benefits: As a member-owned cooperative, the credit union focuses on providing competitive rates and personalized service to education professionals.

The credit union maintains approximately $930,039 in total deposits, serving as a trusted financial partner for local educators.

Question 6

What makes Louisiana Washington Educational Association Credit Union (LA Washington Educators CU) unique?

Accepted Answer

Low-Income Designation: LA Washington Educators CU holds a low-income credit union designation from the NCUA, enabling it to access special grants, loans, and technical assistance programs designed to better serve underserved communities.

Education-Focused Mission: The credit union exclusively serves educational professionals in Washington Parish, creating a tight-knit financial community where members share common professional backgrounds and challenges.

Rural Community Service: Operating in rural Louisiana, the credit union provides essential financial services to educators in smaller communities where banking options may be limited. With a healthy net worth ratio of 11.13%, the institution maintains sound financial stability while serving its niche membership base.

Personalized Approach: With 368 members, the credit union offers a highly personalized banking experience where staff know members by name and understand the unique financial needs of education professionals.

Question 7

What type of financial institution is Louisiana Washington Educational Association Credit Union (LA Washington Educators CU)?

Accepted Answer

LA Washington Educators CU is a federal credit union chartered and regulated by the National Credit Union Administration (NCUA). As a federal credit union, it operates under federal regulations and member deposits are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF).

The credit union operates as a not-for-profit financial cooperative owned by its members. Each member has equal voting rights regardless of account balance, embodying the democratic "one member, one vote" principle central to the credit union movement.

Membership is based on a common bond—specifically, affiliation with the educational community in Washington Parish, Louisiana—ensuring the institution serves a defined group with shared interests and needs.

Louisiana Washington Educational Association Credit Union (LA Washington Educators CU)

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About Louisiana Washington Educational Association Credit Union (LA Washington Educators CU) in the United States