Formation Federal Credit Union

Headquarters

P O Box 15745
Baton Rouge, LA 70895
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Notable Rates	APY	Vs.Others
Savings	0.20%	4.66% →
1-Year CD	0.90%	4.59% →
2-Year CD	1.00%	4.25% →
5-Year CD	N.A.	4.20% →
30-Year Mortgage	N.A.	4.91% →
15-Year Mortgage	N.A.	4.39% →
HELOC	N.A.	0.99% →

Overview
Membership
Deposit Rates
Loan Rates
Branches
Climate
Financial Details
FAQs
Reviews

2025 Overview

General Credit Union Information

Formation is an NCUA insured institution located in Baton Rouge, LA. It was founded in 1939 and has approximately $102.15 millions in assets.


NCUA Insured	Yes / Federally Chartered
Charter Number #	# 3061
Date Established	1939
Assets	$102.15 million
Loans	$67.75 million
Deposits	$88.25 million
Capital	$13.30 million

Field of Membership Restrictions

Must be an employee of one of the several Select Employer Groups.

Deposit Rates - July 10, 2025

Your Current Location: New York, NY 10116

Savings and Money Market Rates (Share Account Rates)	APY	MIN	MAX
Savings	0.20%	$2,500	$4,999	Learn More Reviews

CD Rates (Share Certificate Rates)	APY	MIN	MAX
6 Mo CD	0.60%	$10,000	$14,999	Learn More Reviews
6 Mo CD	0.80%	$100,000	$199,999	Learn More Reviews
12 Mo CD	0.70%	$10,000	$14,999	Learn More Reviews
12 Mo CD	0.90%	$100,000	$199,999	Learn More Reviews
24 Mo CD	0.80%	$10,000	$14,999	Learn More Reviews
24 Mo CD	1.00%	$100,000	$199,999	Learn More Reviews
36 Mo CD	0.90%	$10,000	$14,999	Learn More Reviews
36 Mo CD	1.10%	$100,000	$199,999	Learn More Reviews
48 Mo CD	1.01%	$10,000	$14,999	Learn More Reviews
48 Mo CD	1.21%	$100,000	$199,999	Learn More Reviews

Int Checking Rates	APY	MIN	MAX
Int Ckg	0.15%	$2,500	$3,499	Learn MoreShow Less

Loan Rates - July 10, 2025

Your Current Location: New York, NY 10116

There are currently no loan rates available for Formation

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - New York 30 Year Fixed Mortgage Rates 2025

Lender	APR	Rate (%)	Points	Fees	Monthly Payment	Learn More
NMLS ID: 292473	6.372%	6.250%	0.63	$4,123	$1,971	Learn More
NMLS ID: 613839	6.600%	6.490%	0.50	$3,663	$2,021	Learn More
NMLS ID: 399799	6.606%	6.500%	0.75	$3,696	$2,023	Learn More
NMLS ID: 401822	6.620%	6.500%	0.63	$3,995	$2,023	Learn More

See More Mortgage Rates →

Featured - New York Home Equity Line Of Credit Rates 2025

Lender	APR (%)^?	Monthly Payment^?	Learn More
Third Federal Savings and Loan See Table	Intro APR 6.990 % After Intro: 6.990 %	$0	Learn More More Info
Conditions… Variable APR of Prime minus 1.01% in all states. Min loan amount $10,000. Max loan amount $200,000. 30-year term. Annual fee waived for the first year. See conditions for guarantee at thirdfederal.com. Third Federal rate are typically 20% lower than other leaders Guaranteed Lowest Rate No closing costs, prepayment penalties, or minimum draw requirements 10 year draw period
Four Leaf Federal Credit Union See Table	Intro APR 6.490 % After Intro: 7.750 % Intro Period: 12 months	$25,000	Learn More More Info
Rates/terms are subject to change. All offers of credit are subject to credit approval. Applicants may be offered credit at higher rates and other terms. Property insurance (including flood insurance, if applicable) is required. HELOCs not offered in Texas. Membership at FourLeaf is required by opening a minimum $5 share account. Rates shown are based on primary residence, minimum initial draw of $25,000 at account opening, monthly payments via automatic transfers from a FourLeaf checking/savings account, and borrower(s) inputs for credit score and Combined Loan-to-Value. If borrower(s) qualifies for an intro rate, the intro APR is fixed for 12 months. After, standard APR is variable based on the U.S. Prime Rate, plus a margin, and is subject to increase. To obtain an intro rate, borrower(s) must meet credit/loan program requirements, including (but not limited to): 1) maximum CLTV of 75%, 2) minimum credit score of 720 3) initial draw of $25,000 and maintain this balance for 12 months, 4) monthly payments via automatic transfers from a FourLeaf checking/savings account, and 5) have not had an intro rate within the past 5 years. Loan amounts over $500,000 are not available for the intro rate. The standard APR is variable based on the U.S. Prime Rate as published in the Wall Street Journal, plus a margin (if applicable), and is subject to increase after consummation. The current standard APR ranges from 7.50% - 18.00% as of 4/16/2025. Not all applicants will qualify for the lowest rate. The minimum floor APR is 3.25% and maximum is 18%. Prime Rate as of 4/16/2025 = 7.50%. Closing costs for the first $500,000 will be paid by FourLeaf but must be repaid by the borrower(s) if the HELOC is closed within first 36 months of account opening. Fees generally range between $500 - $15,000. Borrower(s) will be responsible for mortgage-related taxes and title insurance costs on the line amounts over $500,000. Fees generally range between $500 -$60,000. Tap into your home's equity & access the funds you need with a HELOC Apply online or speak with a specialist No application, origination & appraisal fees on lines up to $500K[3] On average, access funds within 35 days[5]

See More Home Equity Rates →

Note to Formation
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Branches

Below are Formation 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:
New York City,New York

Formation Locations around zip code 10116

Branch	Distance	Map	View Lobby Hours
Coca-Cola Branch	1148.31	A	View Lobby Hours
Main Office	1150.64	B	View Lobby Hours

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Climate Policy and Initiatives

FORMATION 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

Formation Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Formation. 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

Formation	U.S. Average
16.13%	7.07

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 December 31, 2024, Formation had $2,174,025 in non-current loans and $5,000 in owned assets. To cover these potential losses it had $13,303,048 in net worth and $203,495 in loans loss reserves. That gives it a Texas Ratio of 16.13%.

Net Worth

Formation	U.S. Average
13.02%	14.25%

Formation FCU has a net worth of 13.02% versus the BestCashCow average of 14.25. 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 Formation

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