Nonprofit · EIN 72-1013943
LOUISIANA CORP CREDIT UNION
Also known as LOUISIANA CORPORATE CREDIT UNION
Tax-exempt · METAIRIE, LA 70002
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $9,811,108 | $9,397,713 | $413,395 | $182,564,313 | $166,918,058 | $15,646,255 |
| December 31, 2023 | 990 | $9,492,747 | $8,432,164 | $1,060,583 | $142,052,131 | $128,137,328 | $13,914,803 |
| December 31, 2022 | 990 (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.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| David A Savoie | CEO Officer, Highest-paid employee | 40 | $279,314 | $66,749 |
| Sherrie Klotz | CAO Officer, Highest-paid employee | 40 | $114,597 | $30,612 |
| Erin Byrd | VP of Operations Officer, Highest-paid employee | 40 | $116,097 | $10,065 |
| Melissa Matherne | Board SecretaryTreasurer Trustee or director | 1 | $0 | $0 |
| Mark Rosa | Board Chair Trustee or director | 1 | $0 | $0 |
| Mary Vedros | Board Vice Chair Trustee or director | 1 | $0 | $0 |
| Matt Koch | Board Member Trustee or director | 1 | $0 | $0 |
| Gary Funderburk | Board Member Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| David A Savoie | CEO Officer, Highest-paid employee | 40 | $251,195 | $67,462 |
| Sherrie Klotz | CAO Officer | 40 | $106,881 | $24,621 |
| Erin Byrd | VP of Operations Officer | 40 | $101,691 | $7,895 |
| Matt Koch | Director Officer | 1 | $0 | $0 |
| Mary Vedros | Vice Chair Officer | 1 | $0 | $0 |
| Melissa Matherne | Secretary Officer | 1 | $0 | $0 |
| Mark Rosa | Board Chair Officer | 1 | $0 | $0 |
| Ronnie Stephens | Treasurer Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2022: 8 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| David A Savoie | CEO Officer, Highest-paid employee | 40 | $183,156 | $68,634 |
| Sherrie Klotz | CAO Officer | 40 | $92,468 | $29,876 |
| Erin Byrd | VP of Operations Officer | 40 | $81,160 | $12,951 |
| Matt Koch | Director Officer | 1 | $0 | $0 |
| Mary Vedros | Vice Chair Officer | 1 | $0 | $0 |
| Melissa Matherne | Secretary Officer | 1 | $0 | $0 |
| Mark Rosa | Board Chair Officer | 1 | $0 | $0 |
| Ronnie Stephens | Treasurer 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
- Website
- www.lacorp.com
- 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.
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 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
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $9,811,108 | $9,397,713 | $182,564,313 | XML |
| 990 | December 2023 | $9,492,747 | $8,432,164 | $142,052,131 | XML |
| 990 | December 2022 | $6,583,884 | $4,328,085 | $146,939,562 | XML |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 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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