ESSENTIAL

Headquarters

PO BOX 738
Plaquemine, LA 70765
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 1.40% →
1-Year CD 0.50% 1.15% →
2-Year CD 0.70% 1.26% →
5-Year CD 1.00% 1.56% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Credit Union Information

Essential is an NCUA insured institution located in Plaquemine, LA. It was founded in 1972 and has approximately $310.43 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
Charter Number # # 20972
Date Established 1972
Assets $310.43 million
Loans $223.32 million
Deposits $282.43 million
Capital $27.06 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 - July 13, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
Savings
0.10% $2,500 $4,999 Learn More
Money Market
0.10% $2,500 $2,999 Learn More
Money Market
0.20% $10,000 $14,999 Learn More
Money Market
0.20% $25,000 $29,999 Learn More
CD Rates (Share Certificate Rates) APY MIN MAX
3 Mo CD
0.20% $10,000 $14,999 Learn More
3 Mo CD
0.20% $100,000 $199,999 Learn More
6 Mo CD
0.40% $10,000 $14,999 Learn More
6 Mo CD
0.40% $100,000 $199,999 Learn More
12 Mo CD
0.50% $10,000 $14,999 Learn More
12 Mo CD
0.50% $100,000 $199,999 Learn More
18 Mo CD
0.60% $10,000 $14,999 Learn More
18 Mo CD
0.60% $100,000 $199,999 Learn More
24 Mo CD
0.70% $10,000 $14,999 Learn More
24 Mo CD
0.70% $100,000 $199,999 Learn More
36 Mo CD
0.90% $10,000 $14,999 Learn More
36 Mo CD
0.90% $100,000 $199,999 Learn More
48 Mo CD
0.95% $10,000 $14,999 Learn More
48 Mo CD
0.95% $100,000 $199,999 Learn More
60 Mo CD
1.00% $10,000 $14,999 Learn More
60 Mo CD
1.00% $100,000 $199,999 Learn More

Loan Rates - July 13, 2020

Your Current Location: Connecticut, CT 06828

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 - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.951% 2.875% 1.00 $2,445 $1,038 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
2.990 %
$0 Learn More
More Info

Note to ESSENTIAL
To upload and update your bank's rates please register. It is free to register and add rates.



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:
Fairfield,Connecticut


Essential Locations


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
27.50% 6.71

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 March 30, 2020, Essential had $7,746,306 in non-current loans and $230,130 in owned assets. To cover these potential losses it had $27,062,445 in net worth and $1,937,633 in loans loss reserves. That gives it a Texas Ratio of 27.50%.

Net Worth
Essential U.S. Average
8.71% 13.61%

Essential FCU has a net worth of 8.71% versus the BestCashCow average of 13.61. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.

Frequently Asked Questions About Essential

Branches and Savings

What is Essential?

A federal credit union, registered with the NCUA under certificate #20972.
Learn more about credit unions here.

Is Essential FDIC insured?

No, credit unions are not insured by the FDIC. They are insured by the National Credit Union Administration. The insurance provisions of the NCUA are similar to, but not identical to, FDIC insurance.

Who can join Essential?

Please see Field of Membership information above for information on who is eligible to join.

What are Essential's share account and share certificate rates?

Essential's deposit account rates are listed above.
You may find better online savings rates here or better local savings rates at banks or credit unions. Tables with the best CD rates are here.

How big is Essential?

Essential has total capital of $27.06 million. Full information on Essential's financial position is located above.

Who owns Essential?

Credit Unions are owned by their members.

Where are Essential branches located?

See branch locations nearby.

Are Essential ATMs Open 24/7?

Do Essential ATMs accept cash deposits?

Can Essential customers use other ATMs? What is the charge for withdrawing money from another ATM?

Does Essential have a mobile app?

Does Essential have mobile deposit?

Does Essential have quick pay?

How can Essential transfer money to other banks or credit unions?

Does Essential report to credit bureaus?

Does Essential use Chexsystems?

Does Essential use Equifax?

What is Essential's toll free phone number?

What is Essential's ACH Routing Number?

What is Essential's SWIFT code?

Where can I find Essential's wire transfer form?

What is the Essential address for deposits?

What Products Does Essential Offer

Does Essential offer mortgages?

Compare mortgage rates here.

Does Essential offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Essential offer auto and RV loans?

Compare auto loan rates here.

Does Essential offer student loans or personal loans?

Compare personal loan rates here.

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