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Nonprofit · EIN 72-1013943

LOUISIANA CORP CREDIT UNION

Also known as LOUISIANA CORPORATE CREDIT UNION

Tax-exempt · METAIRIE, LA 70002

Financials

$6.6M$4.3M2022$9.5M$8.4M2023$9.8M$9.4M2024
Revenue Expenses · by fiscal year end
Financials of LOUISIANA CORP CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$9,811,108$9,397,713$413,395$182,564,313$166,918,058$15,646,255
December 31, 2023990$9,492,747$8,432,164$1,060,583$142,052,131$128,137,328$13,914,803
December 31, 2022990 (amended)$6,583,884$4,328,085$2,255,799$146,939,562$134,742,075$12,197,487
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$1,086,090
Investment income
$8,725,018
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$439,622
Other salaries and wages
$281,340
Salaries, compensation and benefits (total)
$951,105
Professional fundraising fees
$0
Legal fees
$8,000
Accounting fees
$11,950
Occupancy
$63,249
Depreciation
$6,493
Program services (functional)
$9,397,713

Balance sheet and other

Total assets, start of year
$142,052,131
Total assets, end of year
$182,564,313
Total liabilities, end of year
$166,918,058
Net assets, end of year
$15,646,255
Land, buildings and equipment
$3,515
Publicly traded securities
$111,241,101
Gross receipts
$9,811,108
Employees
8
Year formed
1984
State of legal domicile
LA

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
David A SavoieCEO
Officer, Highest-paid employee
40$279,314$66,749
Sherrie KlotzCAO
Officer, Highest-paid employee
40$114,597$30,612
Erin ByrdVP of Operations
Officer, Highest-paid employee
40$116,097$10,065
Melissa MatherneBoard SecretaryTreasurer
Trustee or director
1$0$0
Mark RosaBoard Chair
Trustee or director
1$0$0
Mary VedrosBoard Vice Chair
Trustee or director
1$0$0
Matt KochBoard Member
Trustee or director
1$0$0
Gary FunderburkBoard Member
Trustee or director
1$0$0
990 for the year ended December 31, 2023: 8 people
NameTitleHours / weekCompensationOther / benefits
David A SavoieCEO
Officer, Highest-paid employee
40$251,195$67,462
Sherrie KlotzCAO
Officer
40$106,881$24,621
Erin ByrdVP of Operations
Officer
40$101,691$7,895
Matt KochDirector
Officer
1$0$0
Mary VedrosVice Chair
Officer
1$0$0
Melissa MatherneSecretary
Officer
1$0$0
Mark RosaBoard Chair
Officer
1$0$0
Ronnie StephensTreasurer
Officer
1$0$0
990 for the year ended December 31, 2022: 8 people
NameTitleHours / weekCompensationOther / benefits
David A SavoieCEO
Officer, Highest-paid employee
40$183,156$68,634
Sherrie KlotzCAO
Officer
40$92,468$29,876
Erin ByrdVP of Operations
Officer
40$81,160$12,951
Matt KochDirector
Officer
1$0$0
Mary VedrosVice Chair
Officer
1$0$0
Melissa MatherneSecretary
Officer
1$0$0
Mark RosaBoard Chair
Officer
1$0$0
Ronnie StephensTreasurer
Officer
1$0$0

Address and contacts

Address (IRS master file)
3500 N CAUSEWAY BLVD STE 1510, METAIRIE, LA 70002-3526
In care of
% DAVID A SAVOIE
Principal officer (990 for 2024)
David A Savoie, 3500 N Causeway Blvd Suite 1510, Metairie, LA 70002
Signed the 990
DAVID A SAVOIE, CEO
Phone
(504) 838-8250
Return prepared by
Griffin and Furman LLC

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.

990 for the year ended December 31, 2024

Program accomplishments

  • Louisiana Corporate Credit Union provides financial and financially related services for the benefit of its member credit unions.
    Expenses $9,397,713
  • Lousiana Corporate provides low interest or interest free loans to member credit unions when impacted by declared natural disasters.
  • Louisiana Corporate issues a monthly economic and financial digest at no charge to its members which includes current economic and financial analysis of their operating environment.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
72-1013943
Tax-exempt status
501(c)(14): State-chartered credit union
Donations deductible
No
Exempt since
1969
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$182,564,313
Income (IRS master file)
$9,811,108

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$9,811,108$9,397,713$182,564,313XML
990December 2023$9,492,747$8,432,164$142,052,131XML
990December 2022$6,583,884$4,328,085$146,939,562XML
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 72-1013943).

Questions about LOUISIANA CORP CREDIT UNION

What is the EIN of LOUISIANA CORP CREDIT UNION?
The employer identification number (EIN) of LOUISIANA CORP CREDIT UNION is 72-1013943.
Is LOUISIANA CORP CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1969.
Are donations to LOUISIANA CORP CREDIT UNION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does LOUISIANA CORP CREDIT UNION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of LOUISIANA CORP CREDIT UNION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did LOUISIANA CORP CREDIT UNION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of LOUISIANA CORP CREDIT UNION?
The 990 for the year ended December 31, 2024 names David A Savoie.
Who are the officers and directors of LOUISIANA CORP CREDIT UNION?
The 990 for the year ended December 31, 2024 lists 8 people; 3 received compensation from the organization, the highest $279,314 (David A Savoie, CEO).
How much revenue does LOUISIANA CORP CREDIT UNION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $9,811,108, expenses of $9,397,713 and total assets of $182,564,313 at year end.

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