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Louisiana Federal Credit
LOUISIANA FEDERAL CREDIT UNION
Focusing on the “Why”
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Louisiana Federal Credit Union is focused on one thing–helping people. In fact, the credit union is driven by this one basic statement. According to Rhonda Hotard, the President and CEO of the Louisiana Federal Credit Union, “We threw out vision and mission statements and now focus on our ‘why,’ which is to help people, so they can focus on life first.” starting their own credit union on site. That’s how Louisiana FCU got its start back in 1935. They were the 174th credit union to start in the U.S., continuing the overarching mission of credit unions, which is to help people.
Today, Louisiana FCU offers a complete suite of financial products for both individual and business members. “We offer the same products or services as traditional banks, including mortgages, vacant land loans, auto loans, credit cards, and lines of credit,” says Hotard. The credit union also offers club accounts, Christmas clubs, and a variety of digital platforms for members. In fact, according to Hotard, Louisiana FCU has been ahead of the game with stand-out technology platforms, offering online access to banking services without ever having to come into a branch. While their efforts have earned them Top Work Place honors for five years and several state and national marketing awards, Louisiana FCU looks ahead with a continued focus on its members by expanding digital growth and keeping up with trends for easy access of services. “We want to always stay in line with current expectations of customers,” says Hotard. While expansion and membership growth are a priority, the goal will always be to listen to members and ensure that their needs are being met. In other words, helping members so they can focus on life first.
By recognizing that their most valuable resources are their people, the ‘why’ of Louisiana FCU is evident in how they handle their business, and also in how they connect with their community. There is a distinct feeling of belonging at each of the branches, including knowing members individually and taking the time to build relationships. These relationships have extended outside the branch while also supporting those in need. Amid a pandemic, the Louisiana FCU team was out helping people in the community by providing encouragement for healthcare workers, school supplies for students, donations and service at multiple food banks, and much more across their regional area. Recognizing the impact the pandemic had financially on nonprofit organizations in the community, Louisiana FCU made sure to support nonprofits like the American Cancer Society and the Ascension Chamber of Commerce. Louisiana FCU’s Sweet Soiree Live Auction raised over $7,000 for the American Cancer Society, and they also raised over $11,000 for the Relay for Life of St. James Parish.
Helping people isn’t a new initiative for Louisiana FCU. During the early 1930s, the country was just beginning to come out of the Great Depression and people were looking for financial resources as many were turned away from traditional financial institutions. The Norco Shell Refinery began offering financial services to the employees by
There are currently five branch locations across Louisiana, including in the River Parishes and Hammond. In addition, through their shared branching partnership with credit unions across the country, a member can bank at over 5,600 nationwide shared branch locations.
