LOUISIANA CENTRAL CREDIT UNION: Form 990, tax year 2011

View the entire original 990 at ProPublica ↗

Organization: LOUISIANA CENTRAL CREDIT UNION (EIN 72-0502575)
Tax period: 2011-01-01 to 2011-12-31
Filed: 2012-11-13
IRS object ID: 201233189349304498
Schema version: 2011v1.2
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 J
Schedule L
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2012-11-13T17:53:54-06:00	Timestamp
Tax Period End Date	2011-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Field	Value	IRS element (for citing)
EIN	721354740	EIN

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	STEPHANIE M PRUNTY CPA APC	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	1101 DEALERS AVENUE	AddressLine1
City	NEW ORLEANS	City
State	LA	State
ZIP Code	70123	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2011-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	720502575	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	LOUISIANA CENTRAL CREDIT UNION	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	LOUI	NameControl
Phone	5047330789	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	824 ELMWOOD PARK BLVD No 100	AddressLine1
City	HARAHAN	City
State	LA	State
ZIP Code	70123	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	GAYLE DRIEMER	Name
Title	CHIEF FINANCIAL OFFICER	Title
Phone	5047330789	Phone
Date Signed	2012-11-15	DateSigned
Authorize Third Party	1	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	STEPHANIE M PRUNTY CPA	Name
PTIN	P00477270	PTIN
Phone	5047334077	Phone
Date Prepared	2012-11-12	DatePrepared

Field	Value	IRS element (for citing)
Tax Year	2011	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	HENRY ORGERON	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	3929 LOLAN COURT	AddressLine1
City	MARRERO	City
State	LA	State
ZIP Code	70072	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	757516	GrossReceipts
Group Return For Affiliates	0	GroupReturnForAffiliates
Organization501c	X	Organization501c
Web Site	WWW.LOUISIANACENTRAL.ORG	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	1942	YearFormation
State Legal Domicile	LA	StateLegalDomicile
Activity Or Mission Description	MISSION: 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 coverages;and to conduct a well- managed and financially sound credit union with acceptance and respect in the community.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	5	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	5	NbrIndependentVotingMembers
Total Nbr Employees	7	TotalNbrEmployees
Total Nbr Volunteers	8	TotalNbrVolunteers
Total Gross UBI	0	TotalGrossUBI
Net Unrelated Business Txbl Income	0	NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year	0	ContributionsGrantsPriorYear
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	0	ProgramServiceRevenuePriorYear
Program Service Revenue CY	0	ProgramServiceRevenueCY
Investment Income Prior Year	201944	InvestmentIncomePriorYear
Investment Income Current Year	175658	InvestmentIncomeCurrentYear
Other Revenue Prior Year	548357	OtherRevenuePriorYear
Other Revenue Current Year	581858	OtherRevenueCurrentYear
Total Revenue Prior Year	750301	TotalRevenuePriorYear
Total Revenue Current Year	757516	TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year	0	GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year	0	BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	328215	SalariesEtcPriorYear
Salaries Etc Current Year	345438	SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year	0	TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	499522	OtherExpensePriorYear
Other Expenses Current Year	406122	OtherExpensesCurrentYear
Total Expenses Prior Year	827737	TotalExpensesPriorYear
Total Expenses Current Year	751560	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	-77436	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	5956	RevenuesLessExpensesCY
Total Assets BOY	12059414	TotalAssetsBOY
Total Assets EOY	12192496	TotalAssetsEOY
Total Liabilities BOY	11026132	TotalLiabilitiesBOY
Total Liabilities EOY	11153258	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	1033282	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	1039238	NetAssetsOrFundBalancesEOY
Info In Schedule O Part III	X	InfoInScheduleOPartIII
Mission Description	To provide and atmosphere of caring by making available to 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 and financially sound credit union with acceptance and respect in the community.	MissionDescription
Significant New Program Services	0	SignificantNewProgramServices
Significant Change	0	SignificantChange
Description	Interest-Gives members the highest return affordable on their deposits.Membership as of 12/31/2011:3017Number of deposit accounts as of 12/31/2011:3687	Description

Activity2 Activity2

Field	Value	IRS element (for citing)
Description	Lending Services- Make available the ability to offer low interest loans;862 loans and/or credit cards were added to portfolio in 2011.	Description

Activity3 Activity3

Field	Value	IRS element (for citing)
Description	Information Technology:A. Includes the financial operating system which allows for the accounting of loans and savings accounts along with the financial transactions involved.Accounts as of 12/31/11: Regular Shares=3006;Christmas Club accounts=43; Vacation Club Accounts=70;Share Draft accounts=290;Time Share Certificates=178;Debit Cards=280;ATM cards=523;B. Includes a website which allows internet loan applications and various internet financial transactions,also provides members access to funds during disasters. As of 12/31/11 there were 1128 enrolled accounts on our in-house website and 180 accounts on our third party credit card website.	Description

Field	Value	IRS element (for citing)
Described In501 C3	0	DescribedIn501C3
Schedule B Required	0	ScheduleBRequired
Political Activities	0	PoliticalActivities
Subject To Proxy Tax	0	SubjectToProxyTax
Donor Advised Funds	0	DonorAdvisedFunds
Conservation Easements	0	ConservationEasements
Collections Of Art	0	CollectionsOfArt
Credit Counseling	0	CreditCounseling
Term Or Permanent Endowments	0	TermOrPermanentEndowments
Report Land Bldg Equip	1	ReportLandBldgEquip
Report Invest Oth Securities	1	ReportInvestOthSecurities
Report Prog Rel Invest	0	ReportProgRelInvest
Report Other Assets	0	ReportOtherAssets
Report Other Liabilities	1	ReportOtherLiabilities
Report Fin48 Footnote	0	ReportFin48Footnote
Independent Audit Financial Stmt	0	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	0	ConsolidatedAuditFinancialStmt
School	0	School
Foreign Office	0	ForeignOffice
Foreign Activities	0	ForeignActivities
More Than5000 K To Organizations	0	MoreThan5000KToOrganizations
More Than5000 K To Individuals	0	MoreThan5000KToIndividuals
Professional Fundraising	0	ProfessionalFundraising
Fundraising Activities	0	FundraisingActivities
Gaming	0	Gaming
Hospital	0	Hospital
Grants To Organizations	0	GrantsToOrganizations
Grants To Individuals	0	GrantsToIndividuals
Schedule J Required	0	ScheduleJRequired
Tax Exempt Bonds	0	TaxExemptBonds
Loan To Officer Or DQP	0	LoanToOfficerOrDQP
Grant To Related Person	0	GrantToRelatedPerson
Bsnss Rltnshp With Organization	1	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	0	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	0	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	0	DeductibleNonCashContributions
Deductible Contributions Of Art	0	DeductibleContributionsOfArt
Terminated	0	Terminated
Partial Liquidation	0	PartialLiquidation
Disregarded Entity	0	DisregardedEntity
Related Entity	0	RelatedEntity
Related Org Controlled Entity	0	RelatedOrgControlledEntity
Transaction Related Entity	0	TransactionRelatedEntity
Activities Conducted Partnership	0	ActivitiesConductedPartnership
Schedule O Required	1	ScheduleORequired
Number Forms Transmitted With1096	0	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Number Of Employees	7	NumberOfEmployees
Employment Tax Returns Filed	1	EmploymentTaxReturnsFiled
Unrelated Business Income	0	UnrelatedBusinessIncome
Foreign Financial Account	0	ForeignFinancialAccount
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTrans
Taxable Party Notification	0	TaxablePartyNotification
Non Deductible Contributions	0	NonDeductibleContributions
Indoor Tanning Services	0	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	5	NbrVotingGoverningBodyMembers
Number Independent Voting Members	5	NumberIndependentVotingMembers
Family Or Business Relationship	0	FamilyOrBusinessRelationship
Delegation Of Management Duties	0	DelegationOfManagementDuties
Changes To Organizing Docs	0	ChangesToOrganizingDocs
Material Diversion Or Misuse	0	MaterialDiversionOrMisuse
Members Or Stockholders	1	MembersOrStockholders
Election Of Board Members	1	ElectionOfBoardMembers
Decisions Subject To Approval	0	DecisionsSubjectToApproval
Minutes Of Governing Body	1	MinutesOfGoverningBody
Minutes Of Committees	1	MinutesOfCommittees
Officer Mailing Address	0	OfficerMailingAddress
Local Chapters	1	LocalChapters
Policies Reference Chapters	1	PoliciesReferenceChapters
Form990 Provided To Governing Body	1	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	0	ConflictOfInterestPolicy
Whistleblower Policy	0	WhistleblowerPolicy
Document Retention Policy	1	DocumentRetentionPolicy
Compensation Process CEO	0	CompensationProcessCEO
Compensation Process Other	0	CompensationProcessOther
Investment In Joint Venture	0	InvestmentInJointVenture
States Where Copy Of Return Is Filed	LA	StatesWhereCopyOfReturnIsFiled
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	GAYLE RIEMER LA CENTRAL CREDIT UNI	BusinessNameLine1

Field	Value	IRS element (for citing)
Telephone Number	5047330789	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	824 ELMWOOD PARK BLVD SUITE 100	AddressLine1
City	HARAHAN	City
State	LA	State
ZIP Code	70123	ZIPCode

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

Form990 Part VII Section A Form990PartVIISectionA (5 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	OfficerOfficer
GARY ROBINSON
BOARD MEMBER	0.30	X	0	0	0
HENRY ORGERON
CHAIRMAN OF THE BOARD	0.30		0	0	0	X
CONNIE KENNELY
VICE-CHAIRWOMAN OF THE B	0.30		0	0	0	X
GREGORY RUPPORT
SECRETARY OF THE BOARD	0.30		0	0	0	X
STEPHANIE PRUNTY
FINANCIAL OFFICER OF THE B	0.30		0	0	0	X

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	0	TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs	0	TotalReportableCompFrmRltdOrgs
Total Other Compensation	0	TotalOtherCompensation
Number Individuals GT100 K	0	NumberIndividualsGT100K
Formers Listed	0	FormersListed
Total Comp GT150 K	0	TotalCompGT150K
Compensation From Other Sources	0	CompensationFromOtherSources
Number Of Contractors GT100 K	0	NumberOfContractorsGT100K

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	175658	TotalRevenueColumn
Related Or Exempt Function Income	175658	RelatedOrExemptFunctionIncome

Other Revenue Misc OtherRevenueMisc (3 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome
INCOME FROM LENDING	522100	412209	412209
CREDIT CARD INCOME	522200	98661	98661
FEES, FINES AND SUPPOR	522100	58274	58274

Miscellaneous Revenue MiscellaneousRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	12714	TotalRevenueColumn
Related Or Exempt Function Income	12714	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Other Revenue	581858	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	757516	TotalRevenueColumn
Related Or Exempt Function Income	757516	RelatedOrExemptFunctionIncome
Unrelated Business Revenue	0	UnrelatedBusinessRevenue
Exclusion	$0	ExclusionAmount

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	275139	Total

Pension Plan Contributions PensionPlanContributions

Field	Value	IRS element (for citing)
Total	9329	Total

Other Employee Benefits OtherEmployeeBenefits

Field	Value	IRS element (for citing)
Total	39640	Total

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	21330	Total

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	6949	Total

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	5633	Total

Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees

Field	Value	IRS element (for citing)
Total	700	Total

Fees For Services Other FeesForServicesOther

Field	Value	IRS element (for citing)
Total	4320	Total

Advertising Advertising

Field	Value	IRS element (for citing)
Total	20181	Total

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	27955	Total

Information Technology InformationTechnology

Field	Value	IRS element (for citing)
Total	44935	Total

Occupancy Occupancy

Field	Value	IRS element (for citing)
Total	37003	Total

Conferences Meetings ConferencesMeetings

Field	Value	IRS element (for citing)
Total	9415	Total

Interest Interest

Field	Value	IRS element (for citing)
Total	64830	Total

Payments To Affiliates PaymentsToAffiliates

Field	Value	IRS element (for citing)
Total	13334	Total

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	11259	Total

Insurance Insurance

Field	Value	IRS element (for citing)
Total	18287	Total

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal
lENDING AND PROVISION F	60726
FINANCIAL TRANSACTIONS	32720
NCUA/CORPORATE BAIL OUT	26227
MEMBER STATEMENTS AND T	14847

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	6801	Total

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	751560	Total

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	215700	BOY
EOY	215787	EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	653747	BOY
EOY	954721	EOY

Other Notes Loans Receivable Net OtherNotesLoansReceivableNet

Field	Value	IRS element (for citing)
BOY	5326482	BOY
EOY	5798018	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	18534	BOY
EOY	20709	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	201340	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	173516	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	39237	BOY
EOY	27824	EOY

Investments Other Securities InvestmentsOtherSecurities

Field	Value	IRS element (for citing)
BOY	5683692	BOY
EOY	5046991	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	122022	BOY
EOY	128446	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	12059414	BOY
EOY	12192496	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	84800	BOY
EOY	22190	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	10941332	BOY
EOY	11131068	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	11026132	BOY
EOY	11153258	EOY

Field	Value	IRS element (for citing)
Do Not Follow SFAS117	X	DoNotFollowSFAS117

Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds

Field	Value	IRS element (for citing)
BOY	0	BOY
EOY	0	EOY

Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund

Field	Value	IRS element (for citing)
BOY	0	BOY
EOY	0	EOY

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

Field	Value	IRS element (for citing)
BOY	1033282	BOY
EOY	1039238	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	1033282	BOY
EOY	1039238	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	12059414	BOY
EOY	12192496	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	5956	ReconcilationRevenueExpenses
Reconcilation Other Changes	0	ReconcilationOtherChanges
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	0	AccountantCompileOrReview
FS Audited	0	FSAudited
Federal Grant Audit Required	0	FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Equipment Equipment

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	201340	OtherCostOrOtherBasis
Depreciation	173516	Depreciation
Book Value	27824	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	27824	TotalOfBookValueLandBuildings

Other Securities OtherSecurities (3 entries)

DescriptionDescription	Book ValueBookValue	Method Of ValuationMethodOfValuation
CERTIFICATE OF DEPOSITS AND TERM SHARE LOANS	4974578	F
CORPORATE CREDIT UNION CAPITALIZATION /DEPOSITS	19913	F
AFFILIATE MEMBER SHARES	52500	F

Field	Value	IRS element (for citing)
Total Of Book Value Securities	5046991	TotalOfBookValueSecurities
Federal Income Tax Liability	37	FederalIncomeTaxLiability

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
Description	MEMBER SHARE AND DEPOSITS	Description
Amount	$11,131,031	Amount

Field	Value	IRS element (for citing)
Total Of Amounts	11131068	TotalOfAmounts
Total Revenue	757516	TotalRevenue
Total Expenses	751560	TotalExpenses
Excess Or Deficit For Year	5956	ExcessOrDeficitForYear
Excess Or Deficit Per FS	5956	ExcessOrDeficitPerFS

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Board Or Committee Approval	X	BoardOrCommitteeApproval
Severance Payment	0	SeverancePayment
Supplemental Nonqual Retire Plan	0	SupplementalNonqualRetirePlan
Equity Based Comp Arrangement	0	EquityBasedCompArrangement

Schedule L IRS990ScheduleL

Form990 Schedule L Part IV Form990ScheduleLPartIV

Name Of Interested Person NameOfInterestedPerson

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	STEPHANIE M PRUNTY CPA	BusinessNameLine1

Field	Value	IRS element (for citing)
Relationship	BOARD OFFICER	Relationship
Amount Of Transaction	350	AmountOfTransaction
Description Of Transaction	FILED 990 TAX RETURN ELECTRONICALLY	DescriptionOfTransaction
Sharing Of Revenues	0	SharingOfRevenues

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (4 entries)

Return ReferenceReturnReference	ExplanationExplanation
Form 990, Part VI, Section A, line 6	PART VI:Line 6- We have 3017 Credit Union members.
Form 990, Part VI, Section A, line 7a	PART VI:LINE 7a- The Credit Union members elect Board Members, with staggered two year terms, at our annual business meeting.
Form 990, Part VI, Section B, line 11	Part VI Line 11b: The President/CEO provide Board Members with a copy of the 990 and formally present its contents. Part VI, line 19: Anyone may come to the Credit Union office to see it's governing documents and financial statements.
Form 990, Part VI, Section C, line 19	FORM 990, PART VI,LINE 19: ANYONE MAY COME TO THE CREDIT UNION TO VIEW ITS GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS.