LOUISIANA CENTRAL CREDIT UNION: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization: LOUISIANA CENTRAL CREDIT UNION (EIN 72-0502575)
Tax period: 2024-01-01 to 2024-12-31
Filed: 2025-08-20
IRS object ID: 202542329349300834
Schema version: 2024v5.2
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2025-08-20T15:00:35-04:00	ReturnTs
Tax Period End	2024-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	721506949	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	Griffin and Furman LLC	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	P O Box 983	AddressLine1Txt
City	Mandeville	CityNm
State Abbreviation	LA	StateAbbreviationCd
ZIP	70470	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2024-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	720502575	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	Louisiana Central Credit Union	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
In Care Of	% Mary Schroeder	InCareOfNm
Business Name Control	LOUI	BusinessNameControlTxt
Phone	5047330789	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	824 Elmwood Park Blvd	AddressLine1Txt
City	New Orleans	CityNm
State Abbreviation	LA	StateAbbreviationCd
ZIP	70123	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	MARY SCHROEDER	PersonNm
Person Title	CEO	PersonTitleTxt
Phone	5047330789	PhoneNum
Signature	2025-07-18	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	Yes (true)	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	STEPHEN M GRIFFIN CPA	PreparerPersonNm
PTIN	P00442471	PTIN
Phone	9857279924	PhoneNum

Field	Value	IRS element (for citing)
Tax	2024	TaxYr
Build TS	2025-03-06 01:10:19Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Gross Receipts	$880,847	GrossReceiptsAmt
Group Return For Affiliates	false	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1942	FormationYr
Legal Domicile State	LA	LegalDomicileStateCd
Activity Or Mission	See schedule O5 - General Explanation	ActivityOrMissionDesc
Voting Members Governing Body	5	VotingMembersGoverningBodyCnt
Voting Members Independent	5	VotingMembersIndependentCnt
Total Employee	6	TotalEmployeeCnt
Total Gross UBI	$0	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
PY Program Service Revenue	$838,150	PYProgramServiceRevenueAmt
CY Program Service Revenue	$803,257	CYProgramServiceRevenueAmt
PY Investment Income	$36,478	PYInvestmentIncomeAmt
CY Investment Income	$77,590	CYInvestmentIncomeAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$874,628	PYTotalRevenueAmt
CY Total Revenue	$880,847	CYTotalRevenueAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$280,096	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$268,785	CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$491,907	PYOtherExpensesAmt
CY Other Expenses	$517,466	CYOtherExpensesAmt
PY Total Expenses	$772,003	PYTotalExpensesAmt
CY Total Expenses	$786,251	CYTotalExpensesAmt
PY Revenues Less Expenses	$102,625	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$94,596	CYRevenuesLessExpensesAmt
Total Assets BOY	$12,130,892	TotalAssetsBOYAmt
Total Assets EOY	$10,627,833	TotalAssetsEOYAmt
Total Liabilities BOY	$11,047,792	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$9,613,266	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$1,083,100	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$1,014,567	NetAssetsOrFundBalancesEOYAmt
Mission	See schedule O5 - General Explanation	MissionDesc
Significant New Program Srvc	false	SignificantNewProgramSrvcInd
Significant Change	false	SignificantChangeInd
Expense	$786,251	ExpenseAmt
Desc	The credit union achieved program service success through initiatives focused on financial education, community development, and member support.	Desc
Total Program Service Expenses	$786,251	TotalProgramServiceExpensesAmt
Described In Section501c3	false	DescribedInSection501c3Ind
Schedule B Required	false	ScheduleBRequiredInd
Political Campaign Acty	false	PoliticalCampaignActyInd
Donor Advised Fund	false	DonorAdvisedFundInd
Conservation Easements	false	ConservationEasementsInd
Collections Of Art	false	CollectionsOfArtInd
Credit Counseling	false	CreditCounselingInd
Donor Rstr Or Quasi Endowments	false	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (true)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	Yes (true)	ReportInvestmentsOtherSecInd
Report Program Related Invst	false	ReportProgramRelatedInvstInd
Report Other Assets	false	ReportOtherAssetsInd
Report Other Liabilities	Yes (true)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	false	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	false	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	false	ConsolidatedAuditFinclStmtInd
School Operating	false	SchoolOperatingInd
Foreign Office	false	ForeignOfficeInd
Foreign Activities	false	ForeignActivitiesInd
More Than5000 K To Org	false	MoreThan5000KToOrgInd
More Than5000 K To Individuals	false	MoreThan5000KToIndividualsInd
Professional Fundraising	false	ProfessionalFundraisingInd
Fundraising Activities	false	FundraisingActivitiesInd
Gaming Activities	false	GamingActivitiesInd
Operate Hospital	false	OperateHospitalInd
Grants To Organizations	false	GrantsToOrganizationsInd
Grants To Individuals	false	GrantsToIndividualsInd
Schedule J Required	false	ScheduleJRequiredInd
Tax Exempt Bonds	false	TaxExemptBondsInd
Loan Outstanding	false	LoanOutstandingInd
Grant To Related Person	false	GrantToRelatedPersonInd
Business Rln With Org Mem	false	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	false	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	false	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	false	DeductibleNonCashContriInd
Deductible Art Contribution	false	DeductibleArtContributionInd
Terminate Operations	false	TerminateOperationsInd
Partial Liquidation	false	PartialLiquidationInd
Disregarded Entity	false	DisregardedEntityInd
Related Entity	false	RelatedEntityInd
Related Organization Ctrl Ent	false	RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp	false	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (true)	ScheduleORequiredInd
IRP Document	0	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (true)	BackupWthldComplianceInd
Employee	6	EmployeeCnt
Employment Tax Returns Filed	Yes (true)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	false	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Taxable Party Notification	false	TaxablePartyNotificationInd
Nondeductible Contributions	false	NondeductibleContributionsInd
Indoor Tanning Services	false	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	false	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	5	GoverningBodyVotingMembersCnt
Independent Voting Member	5	IndependentVotingMemberCnt
Family Or Business Rln	false	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	false	DelegationOfMgmtDutiesInd
Change To Org Documents	false	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	false	MaterialDiversionOrMisuseInd
Members Or Stockholders	Yes (true)	MembersOrStockholdersInd
Election Of Board Members	Yes (true)	ElectionOfBoardMembersInd
Decisions Subject To Approva	false	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (true)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (true)	MinutesOfCommitteesInd
Officer Mailing Address	false	OfficerMailingAddressInd
Local Chapters	Yes (true)	LocalChaptersInd
Policies Reference Chapters	Yes (true)	PoliciesReferenceChaptersInd
Form990 Provided To Gvrn Body	Yes (true)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	false	ConflictOfInterestPolicyInd
Whistleblower Policy	false	WhistleblowerPolicyInd
Document Retention Policy	Yes (true)	DocumentRetentionPolicyInd
Compensation Process CEO	false	CompensationProcessCEOInd
Compensation Process Other	false	CompensationProcessOtherInd
Investment In Joint Venture	false	InvestmentInJointVentureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Field	Value	IRS element (for citing)
Person	Mary Schroeder	PersonNm
Phone	5047330789	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	824 Elmwood Park Blvd	AddressLine1Txt
City	New Orleans	CityNm
State Abbreviation	LA	StateAbbreviationCd
ZIP	70123	ZIPCd

Field	Value	IRS element (for citing)
No Listed Persons Compensated	Yes (X)	NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (5 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	OfficerOfficerInd
Rose Orgeron
Director	0.30	0.00	Yes (X)	$0	$0	$0
Stephanie Prunty
Chairperson	0.30	0.00		$0	$0	$0	Yes (X)
Connie Kennelly
Vice-Chairperson	0.30	0.00		$0	$0	$0	Yes (X)
Effie Chaison
Financial Officer	0.30	0.00		$0	$0	$0	Yes (X)
Greg Rupert
Treasurer	0.30	0.00		$0	$0	$0	Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$0	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$0	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	0	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	false	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	false	TotalCompGreaterThan150KInd
Compensation From Other Srcs	false	CompensationFromOtherSrcsInd

Program Service Revenue ProgramServiceRevenueGrp (3 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
Interest on Loans	522100	$622,114	$622,114
Fee Income	522100	$125,208	$125,208
Other Service Revenue	522100	$55,935	$55,935

Field	Value	IRS element (for citing)
Total Program Service Revenue	$803,257	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$77,590	TotalRevenueColumnAmt
Related Or Exempt Func Income	$77,590	RelatedOrExemptFuncIncomeAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$880,847	TotalRevenueColumnAmt
Related Or Exempt Func Income	$880,847	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$0	ExclusionAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$268,785	TotalAmt
Program Services	$268,785	ProgramServicesAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$51,000	TotalAmt
Program Services	$51,000	ProgramServicesAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$266	TotalAmt
Program Services	$266	ProgramServicesAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$170,617	TotalAmt
Program Services	$170,617	ProgramServicesAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$54,408	TotalAmt
Program Services	$54,408	ProgramServicesAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$1,032	TotalAmt
Program Services	$1,032	ProgramServicesAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$84,929	TotalAmt
Program Services	$84,929	ProgramServicesAmt

Other Expenses OtherExpensesGrp (2 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt
Loan Servicing	$137,569	$137,569
Miscellaneous	$17,645	$17,645

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$786,251	TotalAmt
Program Services	$786,251	ProgramServicesAmt
Management And General	$0	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$1,213,380	BOYAmt
EOY	$1,086,938	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$9,682,096	BOYAmt
EOY	$8,568,215	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$242,320	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$237,516	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$7,274	BOYAmt
EOY	$4,804	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$996,000	BOYAmt
EOY	$747,000	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$232,142	BOYAmt
EOY	$220,876	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$12,130,892	BOYAmt
EOY	$10,627,833	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$131,378	BOYAmt
EOY	$46,383	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$10,916,414	BOYAmt
EOY	$9,566,883	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$11,047,792	BOYAmt
EOY	$9,613,266	EOYAmt

Field	Value	IRS element (for citing)
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

Field	Value	IRS element (for citing)
BOY	$1,083,100	BOYAmt
EOY	$1,014,567	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,083,100	BOYAmt
EOY	$1,014,567	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$12,130,892	BOYAmt
EOY	$10,627,833	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$94,596	ReconcilationRevenueExpnssAmt
Prior Period Adjustments	-$163,129	PriorPeriodAdjustmentsAmt
Other Changes In Net Assets	$0	OtherChangesInNetAssetsAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	false	AccountantCompileOrReviewInd
FS Audited	false	FSAuditedInd
Federal Grant Audit Required	false	FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$242,320	OtherCostOrOtherBasisAmt
Depreciation	$237,516	DepreciationAmt
Book Value	$4,804	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$4,804	TotalBookValueLandBuildingsAmt

Other Securities OtherSecuritiesGrp

Field	Value	IRS element (for citing)
Desc	Investments	Desc
Book Value	$747,000	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Securities	$747,000	TotalBookValueSecuritiesAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

Field	Value	IRS element (for citing)
Desc	Shares	Desc
Amt	$9,566,883	Amt

Field	Value	IRS element (for citing)
Total Liability	$9,566,883	TotalLiabilityAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
Members or stockholder classes and rights Part VI line 6	Membership of the Credit Union is obtained by opening a share account with a minimum deposit. Members of the Credit Union can cast ballots in Credit Union elections.
Member election for additional members Part VI line 7a	Membership of the Credit Union is obtained by opening a share account with a minimum deposit. Members of the Credit Union can cast ballots in Credit Union elections.
Form 990 governing body review Part VI line 11	The governing body is presented the Form 990 for review before filing with the Internal Revenue Service.
Governing documents etc available to public Part VI line 19	Governing documents are made available to the public upon request.
General explanation attachment	To provide an atmosphere of caring by making available to all members, of all walks of life, consumer lending services, financial transactions, participation and access to a wide range of insurance benefits and coverage; and to conduct a well-managed, well-respected and financially sound credit union.