Fi nd
Y o u r Fi nanc i al Fut ur e :
Loui s i anaBanksandCr e di tUni ons St a t e wi deDi r e c t or y
Find
Your Financial
Future:
Louisiana Banks and Credit Unions
Statewide Directory
Southeast Louisiana Alliance for Economic Inclusion (AEI) c/o: Kevin Williams FDIC Community Affairs 5555 Hilton Avenue, Suite 300 Baton Rouge, Louisiana 70808
Louisiana Appleseed Christy Kane, Executive Director 909 Poydras Street Suite 1550 New Orleans, Louisiana 70112 http://louisiana.appleseednetwork.org/
Acknowledgments Special thanks to the W.K. Kellogg Foundation for supporting this financial access project and to the Louisiana Bankers Association and the Louisiana Credit Union League for distributing the survey. Also, special thanks to Louisiana Appleseed Legal Fellow Jennifer Jacobs for her dedication to this project and for her time spent on the survey and compiling this directory. Finally, we owe gratitude to Louisiana Appleseed volunteers Megan Haggerty Guy and Jeff Richardson of Adams and Reese, LLP, both of whom donated pro bono time to formulate survey questions, review the directory and plan overall strategy.
The information in this Directory is provided as a matter of public service and is for informational use only. The information does not constitute legal or financial advice and should not be used as such. Readers are strongly urged to contact the banks and credit unions directly to discuss the availability of products and services. The information presented in this Directory was collected in Fall 2010 through a survey sent to banks and credit unions statewide; it is not an exhaustive list of the respondents’ products and services. The information presented is subject to change. The Southeast Louisiana Alliance for Economic Inclusion and Louisiana Appleseed claim no responsibility for the accuracy of the information provided by the financial institutions.
Find Your Financial Future: Louisiana Banks and Credit Unions
WHY CHOOSE A BANK OR CREDIT UNION? BANK ON YOUR FUTURE! SAFETY ~ Carrying cash on payday or keeping large amounts of money at home can make you a target for robbery and assault. Banks and credit unions offer a safe place to keep your money. MONEY ~ Fees to cash checks or buy money orders to pay your bills add up. Bank or credit union accounts will help you better control a budget and allow you to pay bills directly without money orders. CREDIT ~ Opening a bank or credit union account can be the first step to establishing credit and becoming eligible for loans for cars, homes and many other items. EDUCATION ~ Banks and credit unions offer options for financing a college education – and savings accounts to help you make that goal a reality. CONVENIENCE ~ Using a debit card or ATM card – instead of carrying cash or writing checks – is a safe and convenient way to make your everyday purchases.
WHAT THIS DIRECTORY OFFERS This directory is meant to be an easy guide for learning about what Louisiana banks and credit unions can offer customers. Many of these services are free or low-cost ways to manage your money. The first section describes the kinds of services banks and credit unions offer. The second section lists each service and tells you which banks and credit unions offer it. At the end, there is a list of financial terms and what they mean. The AEI’s Committee to Address the Needs of the Unbanked and Underbanked worked with Louisiana Appleseed to put this directory together.
WHO WE ARE The mission of the Southeast LA Alliance for Economic Inclusion (AEI), which was organized in 2007 by the FDIC Memphis Area Office and other community stakeholders, is to improve the economic wellbeing of low- and moderate-income individuals and families, including the unbanked and underserved, by improving access to the U.S. banking system. The AEI works with financial institutions and other partners on ways to bring those currently unbanked and underserved into the financial mainstream through innovative low-cost products and services and expanded financial education efforts. Louisiana Appleseed is a pro bono-focused nonprofit dedicated to advancing social justice by effecting change at the policy, or systemic, level.
Louisiana Appleseed
recruits professionals to donate pro bono time to solve problems at their root cause. Our projects seek to increase access to education, opportunity and justice.
Find Your Financial Future: Louisiana Banks and Credit Unions
“Putting your money in a bank or credit union doesn’t have to be confusing. Choosing a bank or credit union can help you save money and start on a path to financial freedom. This directory provides the tools to make a smart choice that’s right for you.” -
Christy Kane, Executive Director, Louisiana Appleseed
Table of Contents Table of Contents A: Banks and Credit Unions - Detailed Listings………....….… 2 Table of Contents B: Innovative Products and Services - Detailed Listings…...…
3
Contact Information for Banks and Credit Unions………………………………….
4-6
Banks and Credit Unions - Detailed Listings……………………...…..……….…….
7-35
Innovative Products and Services - Detailed Listings…………………………..…... 36-54 Glossary of Financial Terms.…………………………………………...……………… 55-59
1
Find Your Financial Future: Louisiana Banks and Credit Unions
Table of Contents A Banks and Credit Unions - Detailed Listings Acadian Federal Credit Union, Lafayette, LA……………………………………………………………..….. Agrico Chem Federal Credit Union, St. James, LA………………………………………………………… Allied Plastics Federal Credit Union, Baton Rouge, LA…………………………………………...……… ASI Federal Credit Union, Harahan, LA…………………………………………………………………….… Bank of Ruston, Ruston, LA…………………………………………………………………………………….. Barksdale Federal Credit Union, Bossier City, LA…………………………………………………………… Calcasieu Teachers & Employees Credit Union, Lake Charles, LA……………………………………….. Carville Employees Federal Credit Union, Carville, LA……………………………………………………. Community Trust Bank, Monroe, LA………………………………………………………………………….. District 05 DOTD Federal Credit Union, Monroe, LA…………………………………...………………….. Dresser Alexandria Federal Credit Union, Tioga, LA……………………………………………………….. Fidelity Homestead Savings Bank, New Orleans, LA……………………………………………………….. First American Bank and Trust, Vacherie, LA……………………………………………………………… First Federal Bank of Louisiana, Lake Charles, LA………………………………………………………… First Guaranty Bank, Hammond, LA………………………………………………………………………….. First NBC Bank, New Orleans, LA…………………………………………………………………………… First Pioneers Federal Credit Union, Lafayette, LA………………………………………………………….. Hancock Bank, Mandeville, LA………………………………………………………………………………… IBERIABANK, Lafayette, LA………………………………………………………………………...…………. Iberville Bank, Plaquemine, LA………………………………………………………………………………… Immaculate Heart of Mary Credit Union, Lafayette, LA……………………………………………………. Jeff Davis Bank & Trust Co., Jennings, LA……………………………………………………………………. Jeff Davis Bank & Trust Co., Lake Charles, LA………………………………………………………………. Lafayette Schools’ Federal Credit Union, Lafayette, LA…………………………………………………….. Liberty Bank, New Orleans, LA………………………………………………………………………………… Louisiana Farm Bureau Credit Union, Baton Rouge, LA……………………………………………………. M C Bank & Trust Company, Morgan City, LA……………………………………………………………… Maple Federal Credit Union, Lafayette, LA………………………………………………………………… Montell Federal Credit Union, Westlake, LA…………………………………………………………………. Neighbors Federal Credit Union, Baton Rouge, LA……………………………………………………….. Pelican State Credit Union, Baton Rouge, LA………………………………………………………………… Peoples State Bank, Natchitoches, LA…………………………………………………..…………………….. Post Office Employees Federal Credit Union, Shreveport, LA…………………………………………….. Richland Parish Schools Federal Credit Union, Rayville, LA……………………………………………… Saint Martin Bank & Trust Co., St. Martinville, LA…………………………………………………………. Section 705 Federal Credit Union, Lafayette, LA…………………………………………………………….. Shell New Orleans Federal Credit Union, New Orleans, LA…………………………………………….. South Louisiana Bank, Houma, LA…………………………………………..……………………………….. St. Jules Credit Union, Lafayette, LA………………………………………………………………………… Teche Federal Bank, Baton Rouge, LA………………………………………………………………………. Tri Parish Bank, Eunice, LA…………………………………………………………………………………….. UNO Federal Credit Union, New Orleans, LA……………………………………………………………….. VAC Federal Credit Union, Shreveport, LA…………………………………………………………..……… Whitney National Bank, New Orleans, LA…………………………………………………………………. Wymar Federal Credit Union, Geismar, LA……………………………………………….…………..………
2
7 7 7-8 8-9 9 10 10-11 11 12 13 13-14 14 14-15 15 16 16-17 17 18 18-19 19 20 20 20-21 21 21-22 22 23 23-24 24 24-25 25-26 26-27 27 27-28 28 29 29-30 30-31 31 31-32 32 33 33-34 34 34-35
Find Your Financial Future: Louisiana Banks and Credit Unions
Table of Contents B Innovative Products and Services Detailed Listings Financial Education Programs…………………………..…………………………………………………………….. Language Assistance…………………………………………………………………………………..………………… Stored Value Cards……………………………………………………………………………………………….…….. Loans and Mortgages Payday Loans……………………………………………………………………………………………….… Personal Loans below $2,500…………………………………………………………………………….….. Micro Small Business Loans below $10,000…………………………………………………………….….. Low-cost Mortgages……………………………………………………………………………………..…… Affordable Mortgages: alternative, portfolio-held products……………………………………….……. Money Transfers Wire Transfers at competitive market rate for domestic and international …………………………… Electronic Transfer Accounts or similar for low cost money transfers……………………….…………. Contract Money Transfer Services (i.e. Western Union-type transfers)………………….……………… At least two free money orders/e-checks per month with additional offered at low or no fee……….. Check Cashing Free and Low-fee Check Cashing Services ………………………………………………………………… Check Cashing Services at low cost relative to other alternative check cashers…………..……………. Identification Types of Primary Identification accepted……..…………………………………………………………….. Types of Secondary Identification accepted ……………………………...………………………………… Accounts Second Chance Checking……………………….…………………………………………………………… Passbook Savings Accounts……………………..…………………………………………………………… Individual Development Savings Accounts (IDAs) for a local nonprofit IDA administrator………… Card-based Electronic Accounts…………………………………………..…………………………………. Interest-bearing Accounts…………………………………………………………………………………… Free Direct Deposit for tax refunds or pay checks.……………………………………………………..….. Free Automatic (direct deposit) Savings…………………………………………………………………..… Low-cost Checking Accounts……………………………………………………………………………….. Low-cost Savings Accounts……………………………………………….…………………………….….. General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits)………………………………………………………………… Banking and Bill Pay Banking Services at non-branch locations………………………………………………………………… Banking Services during non-traditional banking hours (not including online banking and/or ATMs)…………………………………………………………………………………………………………… Free Electronic Statements …………………………………………………………………………………… Free Online and Mobile Banking…………………………………………………………………………….. Free Online and Mobile Bill Pay…………………………………...………………………………………… Low-fee Kiosk Bill Pay………………..………….…………………………………………………………… Tax Assistance - Free Tax Returns: Assistance in filing state and federal returns……..………………………………………… Individual Tax Identification Number (ITIN) applications processed directly……………………….....
3
36 37 37 38 38 39 39 40 40 41 41 41 42 42 43-44 44-45 46 46 46 47 47 48 48 49-50 50-51 52 52 52 53 53 54 54 54 54
Find Your Financial Future: Louisiana Banks and Credit Unions
Contact Information for Banks and Credit Unions Info is from survey respondents. Please ask for the right person to handle your request. Acadian Federal Credit Union
Barksdale Federal Credit Union
Dresser Alexandria Federal Credit
102 Sunbeam Lane
2701 Village Lane
Union
Lafayette, LA 70506
Bossier City, LA 71112
P.O. Box 700
Contact: Sandra Williams
Contact: Allison Prewett
Tioga, LA 71477-0700
Phone: 337-233-6744
Phone: 318-549-8240
Contact: Carolyn L. Guidry
E-mail:
[email protected]
E-mail:
[email protected]
Phone: 318-640-6002
----------------------------------------------------
----------------------------------------------------
E-mail:
[email protected]
Agrico Chem Federal Credit Union
Calcasieu Teachers & Employees
----------------------------------------------------
9959 Highway 18
Credit Union
Fidelity Homestead Savings Bank
St. James, LA 70086
2423 Sixth Street
201 St. Charles Avenue, 20th Floor
Contact: Melanie Rhodes
Lake Charles, LA 70601
New Orleans, LA 70170
Phone: 225-474-9728
Contact: Bruce C. Thomas
Contact: Karin J. Coleman
E-mail:
[email protected]
Phone: 337-433-4525
Phone: 504-569-3451
----------------------------------------------------
E-mail:
E-mail:
Allied Plastics FCU
[email protected]
[email protected]
P.O. Box 53006
----------------------------------------------------
----------------------------------------------------
Baton Rouge, LA 70892
Carville Employees Federal Credit
First American Bank and Trust
Contact: Cindy Lee
Union
P.O. Box 550
Phone: 225-775-1082
P.O. Box 87
Vacherie, LA 70090
E-mail:
[email protected]
Carville, LA 70721
Contact: Frank J. Bourgeois
----------------------------------------------------
Contact: Melissa Mallet
Phone: 225-265-2265
ASI Federal Credit Union
Phone: 225-642-8663
E-mail:
[email protected]
5508 Citrus Boulevard
E-mail:
[email protected]
----------------------------------------------------
Harahan, LA 70123
----------------------------------------------------
First Federal Bank of Louisiana
Contact: Sarah Taylor
Community Trust Bank
1135 Lakeshore Drive
Phone: 504-733-1733 ext. 79206
1800 Hudson Lane
Lake Charles, LA 70601
E-mail:
[email protected]
Monroe, LA 71203
Contact: Cheryl L. Burns
----------------------------------------------------
Contact: Shelia Grayson
Phone: 337-421-1187
Bank of Ruston
Phone: 318-998-4668
E-mail:
[email protected]
505 North Vienna Street
E-mail:
[email protected]
----------------------------------------------------
Ruston, LA 71270
----------------------------------------------------
First Guaranty Bank
Contact: Mitsy Sullivan
District 05 DOTD Federal Credit
400 East Thomas Street
Phone: 318-255-3733
Union
Hammond, LA 70401
E-mail:
[email protected]
P.O. Box 4068
Contact: Desiree Simmons
Monroe, LA 71211
Phone: 985-375-0473
Contact: Kyla Banks
E-mail:
[email protected]
Phone: 318-342-0146 E-mail:
[email protected]
4
Find Your Financial Future: Louisiana Banks and Credit Unions
First NBC Bank
Immaculate Heart of Mary Credit
Louisiana Farm Bureau Credit Union
210 Baronne Street
Union
9516 Airline Highway
New Orleans, LA 70112
P.O. Box 93156
Baton Rouge, LA 70815
Contact: Linda Nelms
905 Surrey Street
Contact: Tena Krumholt
Phone: 504-671-3843
Lafayette, LA 70509
Phone: 225-922-6405
E-mail:
[email protected]
Contact: Tammi J. Brown
E-mail:
[email protected]
----------------------------------------------------
Phone: 337-593-0591
----------------------------------------------------
First Pioneers Federal Credit Union
E-mail:
M C Bank & Trust Company
2235 South College Road Extension
[email protected]
1201 Brashear Avenue
Lafayette, LA 70508
----------------------------------------------------
P.O. Drawer 2000
Contact: Lawoka Dionne
Jeff Davis Bank & Trust Co.
Morgan City, LA 70380
Phone: 337-272-7600
1611 Elton Road
Contact: J. Michael Bourgeois
E-mail:
[email protected]
Jennings, LA 70546
Contact: Larry J. Callais
----------------------------------------------------
Contact: Ramona Louviere
Phone: 985-384-2100
Hancock Bank
Phone: 337-824-1422
E-mail:
[email protected]
2929 Highway 190
E-mail:
[email protected]
E-mail:
[email protected]
Mandeville, LA 70471
----------------------------------------------------
----------------------------------------------------
Contact: Anna Smith
Jeff Davis Bank & Trust Co.
Maple Federal Credit Union
Phone: 985-674-7798
4400 Nelson Road
105 Toledo Drive
E-mail:
Lake Charles, LA 70605
Lafayette, LA 70506
[email protected]
Contact: Tyler Williams
Contact: Pamela Stelly
----------------------------------------------------
Phone: 337-478-4986
Phone: 337-233-6264
IBERIABANK
E-mail:
[email protected]
E-mail:
[email protected]
201 West Congress Street
----------------------------------------------------
----------------------------------------------------
Lafayette, LA 70502
Lafayette Schools' Federal Credit Union
Montell Federal Credit Union
Contact: Carrie Curet
515 Guilbeau Road
4103 Highway 108
Phone: 337-359-1575
Lafayette, LA 70506
Westlake, LA 70669
E-mail:
[email protected]
Contact: Brian Leger
Contact: K Jeanene Louviere
----------------------------------------------------
Phone: 337-989-0499 ext. 329
Phone: 337-882-6807
Iberville Bank
E-mail:
[email protected]
E-mail:
[email protected]
23405 Eden Street
----------------------------------------------------
----------------------------------------------------
P.O. Box 695
Liberty Bank
Neighbors Federal Credit Union
Plaquemine, LA 70765
6600 Plaza Drive
12529 Perkins Road
Contact: Jessica Kell
New Orleans, LA 70070
Baton Rouge, LA 70810
Phone: 225-692-6029
Contact: Mysheka Battiste
Contact: Dan Robichaux
E-mail:
[email protected]
Phone: 504-240-5292
Phone: 225-819-5755
E-mail:
[email protected]
E-mail:
[email protected]
5
Find Your Financial Future: Louisiana Banks and Credit Unions
Pelican State Credit Union
Section 705 Federal Credit Union
Tri Parish Bank
11585 Lake Sherwood Avenue North
1455 West Willow Street
P.O. Box 1029
Baton Rouge, LA 70816
Lafayette, LA 70529
Eunice, LA 70535
Contact: Jeff Conrad
Contact: Anna Trahan
Contact: Jamaine Brasseaux
Phone: 225-408-6126
Phone: 806-535-990
Phone: 337-546-2121
E-mail:
[email protected]
E-mail:
[email protected]
E-mail:
[email protected]
----------------------------------------------------
----------------------------------------------------
----------------------------------------------------
Peoples State Bank
Shell New Orleans Federal Credit
UNO Federal Credit Union
315 Royal Street
Union
University of New Orleans
Natchitoches, LA 71457
700 Poydras Street
New Orleans, LA 70148
Contact: LaCarsha Babers
P100
Contact: Chris Maurer
Phone: 318-238-4421
New Orleans, LA 70139
Phone: 504-280-6496
E-mail:
[email protected]
Contact: Michelle Duhe
----------------------------------------------------
----------------------------------------------------
Phone: 504-728-4853
VAC Federal Credit Union
Post Office Employees Federal Credit
E-mail:
[email protected]
P.O. Box 5668
Union
----------------------------------------------------
Shreveport, LA 71135-5668
2443 Texas Avenue
South Louisiana Bank
Contact: Dawn Ruggles
Shreveport, LA 71103
P.O. Box 1718
Phone: 318-524-0822
Contact: J D Smith
1362 West Tunnel Boulevard
E-mail:
[email protected]
Phone: 318-222-1979
Houma, LA 70360
----------------------------------------------------
E-mail:
[email protected]
Contact: Victoria Rhea
Whitney National Bank
----------------------------------------------------
Phone: 985-851-3434 ext. 261
228 St. Charles Avenue
Richland Parish Schools Federal
E-mail:
[email protected]
New Orleans, LA 70130
Credit Union
----------------------------------------------------
Contact: Kelly Mann
411 Foster Street
St. Jules Credit Union
Phone: 504-552-4885
Rayville, LA 71269
1600 North Bertrand Drive
E-mail:
[email protected]
Contact: Beverly Gresham
Lafayette, LA 70506
----------------------------------------------------
Phone: 318-728-5964
Contact: Cindy Rushing
Wymar Federal Credit Union
E-mail:
[email protected]
Phone: 337-261-1151
37269 Highway 30
----------------------------------------------------
E-mail:
[email protected]
Geismar, LA 70734
Saint Martin Bank & Trust Co.
----------------------------------------------------
Contact: Reggie Gremillion
P.O. Box 199
Teche Federal Bank
Phone: 225-339-7197
St. Martinville, LA 70582
3524 South Sherwood Forest
E-mail:
[email protected]
Contact: Mark A. Berard
Boulevard
Phone: 337-342-2880
Baton Rouge, LA 70816
E-mail:
Contact: Lindsey Robinson-Jones
[email protected]
Phone: 225-300-4050 E-mail:
[email protected]
6
Find Your Financial Future: Louisiana Banks and Credit Unions
Banks and Credit Unions Detailed Listings Acadian Federal Credit Union Lafayette, LA
FINANCIAL EDUCATION PROGRAMS: Offers one-on-one sessions with members and holds classes in their board room. LOANS AND MORTGAGES Payday Loans: Alternative product with an Annual Percentage Rate (APR) below 36% and a repayment period beyond a single pay check cycle with streamlined underwriting Personal Loans below $2,500 with payroll deduction savings component MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Electronic Transfer Accounts or similar for low cost money transfers Contract Money Transfer Services (i.e. Western Union-type transfers) CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card Secondary Identification accepted: Utility Bill ACCOUNTS Passbook Savings Accounts Free Direct Deposit for tax refunds or pay checks Card-based Electronic Accounts Low-cost checking and savings accounts with low opening balance for checking ($10-$25), low ($1 for checking; $5 for savings) or no minimum monthly balance, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee BANKING AND BILL PAY Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay
Agrico Chem Federal Credit Union St. James, LA
ACCOUNTS Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Checking accounts with low ($1) or no minimum monthly balance
Allied Plastics Federal Credit Union Baton Rouge, LA
LOANS AND MORTGAGES Personal Loans below $2,500 with savings component MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international
7
Find Your Financial Future: Louisiana Banks and Credit Unions
CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card Secondary Identification is not required ACCOUNTS Passbook Savings Accounts Card-based Electronic Accounts Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance for savings accounts ($5), low ($1 for checking; $5 for savings) or no minimum monthly balance, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Free Online and Mobile Banking
ASI Federal Credit Union (ASIFCU) Harahan, LA
FINANCIAL EDUCATION PROGRAMS: ASIFCU created an affiliate nonprofit in 2005 to promote financial literacy. The nonprofit, A Shared Initiative, Inc., offers foreclosure prevention counseling, credit counseling, first time homebuyer education/pre-purchase counseling and basic financial literacy. LANGUAGE ASSISTANCE: Bilingual capabilities in Spanish and Vietnamese; bilingual personnel employed in various branches. Two fully bilingual branches. STORED VALUE CARDS Stored Value Cards available LOANS AND MORTGAGES Payday Loans: Alternative product with an Annual Percentage Rate (APR) below 36%, a repayment period beyond a single pay check cycle, low or no origination fees, streamlined underwriting and automatic savings with some but not all of ASI's low-cost alternatives to predatory payday lending: low-cost savings available for all products but forced savings component available with one product Personal Loans below $2,500 with savings component Micro Small Business Loans below $10,000 Low-cost Mortgages Affordable Mortgages: Alternative, portfolio-held product MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Electronic Transfer Accounts or similar for low cost money transfers Contract Money Transfer Services (i.e. Western Union-type transfers) At least two free money orders/e-checks per month with additional offered at low or no fee CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, Matricula Consular, Individual Taxpayer
8
Find Your Financial Future: Louisiana Banks and Credit Unions
ID Number, Other Foreign-issued ID (ASI accepts anything allowed under ITIN guidelines for ITIN accounts; different guidelines apply for interest-bearing savings accounts) Secondary Identification accepted: Mexican Voter Registration Card, Other Foreign-issued ID, Utility Bill, Others depending on primary document ACCOUNTS Second Chance Checking (debit card driven) Passbook Savings Accounts Active Individual Development Savings Accounts (IDAs) for a local nonprofit IDA administrator Card-based Electronic Accounts Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Banking Services at non-branch locations Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay TAX ASSISTANCE - FREE Tax Returns: Assistance in filing state and federal returns Individual Tax Identification Number (ITIN) applications processed directly for free
Bank of Ruston Ruston, LA
STORED VALUE CARDS Stored Value Cards available LOANS AND MORTGAGES Personal Loans below $2,500 IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Individual Taxpayer ID Number, Foreign Government-Issued Identification Passport Secondary Identification is not required (but Utility Bill, Voter Registration Card, Social Security Card and Birth Certificate are accepted) ACCOUNTS Card-based electronic accounts Interest-bearing Accounts Checking and savings accounts with low ($1) or no minimum monthly balance for checking, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Free Electronic Statements
9
Find Your Financial Future: Louisiana Banks and Credit Unions
Barksdale Federal Credit Union Bossier City, LA
FINANCIAL EDUCATION PROGRAMS: Free seminars / classes: Checking, Budgeting, Credit 101, Home Buying, Career and Children's Money Management. LOANS AND MORTGAGES Payday Loans: Alternative product with an Annual Percentage Rate (APR) below 36% and a repayment period beyond a single pay check cycle with streamlined underwriting Personal Loans below $2,500 with a required savings account component Micro Small Business Loans below $10,000 Low-cost Mortgages Affordable Mortgages: Alternative, portfolio-held product MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Electronic Transfer Accounts or similar for low cost money transfers Contract Money Transfer Services (i.e. Western Union-type transfers) IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Matricula Consular, Individual Taxpayer ID Number Secondary Identification accepted: Utility Bill (used to confirm address) ACCOUNTS Second Chance Checking (Chex Systems Report required, debit card driven, check writing privileges) Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee; accounts are interest bearing with one free corporate check per month and free single signature travelers checks General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with close of business as cut-off time for availability BANKING AND BILL PAY Banking Services during non-traditional banking hours (not including online banking and/or ATMs) Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay
Calcasieu Teachers & Employees Credit Union Lake Charles, LA
LOANS AND MORTGAGES Payday Loans: Alternative product with an Annual Percentage Rate (APR) below 36% and a repayment period beyond a single pay check cycle with low or no origination fees and streamlined underwriting Personal Loans below $2,500 (free life insurance on savings accounts) CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Individual Taxpayer ID Number
10
Find Your Financial Future: Louisiana Banks and Credit Unions
Secondary Identification accepted: Utility Bill ACCOUNTS Second Chance Checking (Chex Systems report required) Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1) or no minimum monthly balance on checking accounts, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, debit card, check writing services, and an option for direct deposit with no monthly or per item fee BANKING AND BILL PAY Banking Services during non-traditional banking hours (not including online banking and/or ATMs) Free Online and Mobile Banking Free Online and Mobile Bill Pay
Carville Employees Federal Credit Union Carville, LA
FINANCIAL EDUCATION PROGRAMS: One-on-one counseling: Manager sits with member to explain negative accounts and develops a plan to clear items up. Also explains how to keep working towards improving credit. LOANS AND MORTGAGES Payday Loans: Alternative product with an Annual Percentage Rate (APR) below 36% and a repayment period beyond a single pay check cycle with low or no origination fees Personal Loans below $2,500 MONEY TRANSFERS Electronic Transfer Accounts or similar for low cost money transfers CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card Secondary Identification accepted: Utility Bill ACCOUNTS Second Chance Checking with check writing privileges; usually provided with a small service fee ($3-$5 average) Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking accounts with low monthly maintenance fee (up to $3), small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee No monthly maintenance fee (if minimum balance is met) for basic savings accounts General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Free Online and Mobile Banking
11
Find Your Financial Future: Louisiana Banks and Credit Unions
Community Trust Bank Monroe, LA
FINANCIAL EDUCATION PROGRAMS: Bank at School; Money Smart; Financial Literacy STORED VALUE CARDS Stored Value Cards available LOANS AND MORTGAGES Personal Loans below $2,500 with savings component Micro Small Business Loans below $10,000 MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Electronic Transfer Accounts or similar for low cost money transfers At least two free money orders/e-checks per month with additional offered at low or no fee CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Driver’s License, State ID Card Secondary Identification accepted: Passport; Social Security Card; Other Foreign-issued ID ACCOUNTS Passbook Savings Accounts Active Individual Development Savings Accounts (IDAs) for a local nonprofit IDA administrator Card-based Electronic Accounts Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Low-cost checking and savings accounts with low ($1 for checking; $5 for savings) or no minimum monthly balance, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Banking Services at non-branch locations Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay TAX ASSISTANCE - FREE Tax Returns: Assistance in filing state and federal returns
12
Find Your Financial Future: Louisiana Banks and Credit Unions
District 05 DOTD Federal Credit Union Monroe, LA
LOANS AND MORTGAGES Payday Loans: Alternative product with an Annual Percentage Rate (APR) below 36% and a repayment period beyond a single pay check cycle with low or no origination fees and streamlined underwriting Personal Loans below $2,500 with savings component Low-cost Mortgages MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Electronic Transfer Accounts or similar for low cost money transfers Contract Money Transfer Services (i.e. Western Union-type transfers) CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Individual Taxpayer ID Number Secondary Identification is not required ACCOUNTS Card-based Electronic Accounts Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, debit card, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Banking Services at non-branch locations Free Online and Mobile Banking Free Online and Mobile Bill Pay TAX ASSISTANCE - FREE Individual Tax Identification Number (ITIN) applications processed directly (no fee)
Dresser Alexandria Federal Credit Union Tioga, LA
LOANS AND MORTGAGES Personal Loans below $2,500 MONEY TRANSFERS At least two free money orders/e-checks per month with additional offered at low or no fee IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Individual Taxpayer ID Number Secondary Identification is not required ACCOUNTS Second Chance Checking
13
Find Your Financial Future: Louisiana Banks and Credit Unions
Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25) for checking, low ($1) or no minimum monthly balance for checking, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Free Online and Mobile Banking
Fidelity Homestead Savings Bank New Orleans, LA
FINANCIAL EDUCATION PROGRAMS: Get Smart About Credit offered annaully to high school youth; First Time Homebuyer Education offered all year long with non-profit partners. LANGUAGE ASSISTANCE: Bilingual Spanish-speaking personnel. LOANS AND MORTGAGES Personal Loans below $2,500 Low-cost Mortgages Affordable Mortgages: Alternative, portfolio-held product; credit score requirement is lowered with this product IDENTIFICATION Primary Identification accepted: Driver’s License Secondary Identification: Utility Bill ACCOUNTS Passbook Savings Accounts Active Individual Development Savings Accounts (IDAs) for a local nonprofit IDA administrator Interest-bearing Accounts Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1) or no minimum monthly balance for checking, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Free Electronic Statements
First American Bank and Trust Vacherie, LA
FINANCIAL EDUCATION PROGRAMS: Offered financial education classes to the local schools. STORED VALUE CARDS Stored Value Cards available LANGUAGE ASSISTANCE: We employ two Spanish speaking tellers / csr. LOANS AND MORTGAGES Personal Loans below $2,500 IDENTIFICATION
14
Find Your Financial Future: Louisiana Banks and Credit Unions
Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card Secondary Identification accepted: Other Foreign-issued ID ACCOUNTS Card-based Electronic Accounts Interest-bearing Accounts Low-cost checking accounts with low ($1) or no minimum monthly balance for checking, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, debit card, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) BANKING AND BILL PAY Free Electronic Statements
First Federal Bank of Louisiana Lake Charles, LA
FINANCIAL EDUCATION PROGRAMS: FDIC Money Smart Financial Education, Homebuyer Education and Teach Children to Save. STORED VALUE CARDS Stored Value Cards available LOANS AND MORTGAGES Personal Loans below $2,500 Micro Small Business Loans below $10,000 Affordable Mortgages: Alternative, portfolio-held product MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international IDENTIFICATION Primary Identification accepted: Driver’s License, State ID Card, Passport, Military ID Card, Federal Government ID, Local Government ID Card with Photo Secondary Identification accepted: Utility Bill, Original Social Security Card, Birth Certificate, Marriage License, Medicaid Card, Student ID with Photo, Voter Registration Card, Property Tax Bill, Rental/Lease Agreement/Deed ACCOUNTS Second Chance Mainstream Checking (Chex Systems report required, check writing privileges, NSFs allowed) Passbook and Statement Savings Accounts (with or without free direct deposit); Statement Savings with free direct deposit & ATM access Interest-bearing Accounts Card Based Electronic Accounts – ETA and Easy Access Account with free direct deposit Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking accounts with low opening balance ($10-25) for checking, low ($1) or no minimum monthly balance for checking, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, ATM card, check writing services, and an option for direct deposit with no monthly or per item fee; Totally Free Checking General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Free Electronic Statements Free Online and Mobile Banking; 24-hour account access
15
Find Your Financial Future: Louisiana Banks and Credit Unions
First Guaranty Bank Hammond, LA
FINANCIAL EDUCATION PROGRAMS: Supplies financial education materials to local schools. STORED VALUE CARDS Stored Value Cards available LOANS AND MORTGAGES Personal Loans below $2,500 Micro Small Business Loans below $10,000 Low-cost Mortgages Affordable Mortgages: Alternative, portfolio-held product MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) IDENTIFICATION Primary Identification accepted: Driver’s License, State ID Card, Foreign-Issued Passport Secondary Identification accepted: Social Security Card ACCOUNTS Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low ($1 for checking; $5 for savings) or no minimum monthly balance, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with 4:30pm as cut-off time for availability BANKING AND BILL PAY Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay
First NBC Bank New Orleans, LA
LANGUAGE ASSISTANCE: Spanish-speaking and Vietnamese-speaking personnel. LOANS AND MORTGAGES Personal Loans below $2,500 Micro Small Business Loans below $10,000 Affordable Mortgages: Alternative, portfolio-held product MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international IDENTIFICATION Primary Identification accepted: Driver’s License, State ID Card, Individual Taxpayer ID Number, US-issued Passport, US Military ID, US Government ID, Alien Registration Card Secondary Identification accepted: Social Security Card, Birth Certificate, Credit/Bank Card, Police ID, School ID, Company ID ACCOUNTS Interest-bearing Accounts Free Automatic (direct deposit) Savings
16
Find Your Financial Future: Louisiana Banks and Credit Unions
Checking accounts with low monthly maintenance fee (up to $3) Basic savings accounts with no monthly maintenance fee (if minimum balance is met), low ($5) or no minimum monthly balance General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with 2:00pm as earliest cut-off hour for availability BANKING AND BILL PAY Free Online and Mobile Banking Free Online and Mobile Bill Pay
First Pioneers Federal Credit Union Lafayette, LA
LANGUAGE ASSISTANCE: Bilingual French-speaking employees. LOANS AND MORTGAGES Payday Loans: Alternative product with an Annual Percentage Rate (APR) below 36% and a repayment period beyond a single pay check cycle with low or no origination fees and streamlined underwriting Personal Loans below $2,500 with savings component (all accounts must have a savings with a minimum of $5 in it) MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card Secondary Identification accepted: Utility Bill ACCOUNTS Passbook Savings Accounts Card-based Electronic Accounts Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay
17
Find Your Financial Future: Louisiana Banks and Credit Unions
Hancock Bank Mandeville, LA
STORED VALUE CARDS Stored Value Cards available LOANS AND MORTGAGES Personal Loans below $2,500 with savings component Micro Small Business Loans below $10,000 Low-cost Mortgages Affordable Mortgages: Alternative, portfolio-held product MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Electronic Transfer Accounts or similar for low cost money transfers Contract Money Transfer Services (i.e. Western Union-type transfers) CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID, IDs from foreign countries that are in the ID Checking Guide and Passports that are current Secondary Identification is not required ACCOUNTS Second Chance Checking (Chex Systems report required, check writing privileges, usually provided with a small service fee of $3-$5) Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($5) for savings, low ($1 for checking; $5 for savings) or no minimum monthly balance, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability with no cut-off time for availability BANKING AND BILL PAY Banking Services at non-branch locations Banking Services during non-traditional banking hours (not including online banking and/or ATMs) Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay
IBERIABANK Lafayette, LA
FINANCIAL EDUCATION PROGRAMS: Offers FDIC Money Smart or other curriculum through NGO; NMTCs; In-School Banking Program with a dedicated branch in an elementary school. LOANS AND MORTGAGES Personal Loans below $2,500 Low-cost Mortgages (we purchase some alternative mortgage products purchased from NGO's) MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international
18
Find Your Financial Future: Louisiana Banks and Credit Unions
IDENTIFICATION Primary Identification accepted: Driver’s License, State ID Card Secondary Identification is not required ACCOUNTS Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking accounts with debit card General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Banking Services at non-branch locations Banking Services during non-traditional banking hours (not including online banking and/or ATMs) Free Electronic Statements Free Online and Mobile Banking
Iberville Bank Plaquemine, LA
FINANCIAL EDUCATION PROGRAMS: Educational presentations by employees to communities and schools in the areas we serve. STORED VALUE CARDS Stored Value Cards available LOANS AND MORTGAGES Personal Loans below $2,500 Micro Small Business Loans below $10,000 Affordable Mortgages: Alternative, portfolio-held product with lowered credit score requirement MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Electronic Transfer Accounts or similar for low cost money transfers At least two free money orders/e-checks per month with additional offered at low or no fee CHECK CASHING Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary / Secondary Identification accepted: Any two of the following: Social Security Number/Card, Driver’s License, State ID Card, Major Credit Card, Individual Taxpayer ID Number, Other Foreign-issued ID ACCOUNTS Passbook Savings Accounts Interest-bearing Accounts Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1) or no minimum monthly balance for checking, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with a 5:30pm cut-off time for availability BANKING AND BILL PAY Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay
19
Find Your Financial Future: Louisiana Banks and Credit Unions
Immaculate Heart of Mary Credit Union Lafayette, LA
LOANS AND MORTGAGES Personal Loans below $2,500 with savings component (we offer share-secured loans) IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card Secondary Identification accepted: Utility Bill ACCOUNTS Passbook Savings Accounts Interest-bearing Accounts Low-cost savings accounts with low opening balance ($5), low ($5) or no minimum monthly balance, no monthly maintenance fee (if minimum balance is met) for basic savings accounts BANKING AND BILL PAY Banking Services during non-traditional banking hours (not including online banking and/or ATMs)
Jeff Davis Bank & Trust Co. Jennings, LA
FINANCIAL EDUCATION PROGRAMS: Offered
Jeff Davis Bank & Trust Co. Lake Charles, LA
FINANCIAL EDUCATION PROGRAMS: How To Do Your Banking education for local schools. LOANS AND MORTGAGES Personal Loans below $2,500 Micro Small Business Loans below $10,000 MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, Individual Taxpayer ID Number, Other Foreign-issued ID Secondary Identification accepted: Other Foreign-issued ID, Utility Bill ACCOUNTS Passbook Savings Accounts Card-based Electronic Accounts Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card and check writing services General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with end of business as cut-off time for availability BANKING AND BILL PAY
20
Find Your Financial Future: Louisiana Banks and Credit Unions
Banking Services at non-branch locations Free Electronic Statements Free Online and Mobile Banking Low-fee kiosk bill payment
Lafayette Schools' Federal Credit Union Lafayette, LA
FINANCIAL EDUCATION PROGRAMS: Offers financial literacy courses at local schools. LOANS AND MORTGAGES Personal Loans below $2,500 Low-cost Mortgages MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Contract Money Transfer Services (i.e. Western Union-type transfers) CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License Secondary Identification is not required ACCOUNTS Second Chance Checking (debit card driven, check writing privileges, NSFs allowed) Passbook Savings Accounts Card-based Electronic Accounts Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low ($1 for checking; $5 for savings) or no minimum monthly balance, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Free Electronic Statements Free Online and Mobile Banking
Liberty Bank New Orleans, LA
FINANCIAL EDUCATION PROGRAMS: Offers Basic Banking 101 to more advanced curriculum. Launching a new financial education website. Offers programs for kids as young as 7. Participates in community programs and partners with customers to provide financial literacy to their employees and clients. LANGUAGE ASSISTANCE: Bilingual Spanish-speaking employee. Launching a new website with bilingual financial education information as well as brochures. LOANS AND MORTGAGES Payday Loans: Alternative product with an Annual Percentage Rate (APR) below 36%, a repayment period beyond a single pay check cycle, low or no origination fees, streamlined underwriting and automatic savings Personal Loans below $2,500 with savings component Micro Small Business Loans below $10,000
21
Find Your Financial Future: Louisiana Banks and Credit Unions
Low-cost Mortgages Affordable Mortgages: Alternative, portfolio-held product with lowered credit score requirement MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international At least two free money orders/e-checks per month with additional offered at low or no fee CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Major Credit Card Secondary Identification is not required ACCOUNTS Second Chance Checking (debit card driven, NSFs allowed, usually provided with an average small service fee of $3-5) Passbook Savings Accounts Card-based Electronic Accounts Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with 3:00pm as cut-off time for availability BANKING AND BILL PAY Banking Services at non-branch locations Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay
Louisiana Farm Bureau Credit Union Baton Rouge, LA
LOANS AND MORTGAGES Personal Loans below $2,500 IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Individual Taxpayer ID Number Secondary Identification is not required ACCOUNTS Savings accounts with low ($5) or no minimum monthly balance, no monthly maintenance fee (if minimum balance is met) for basic savings accounts General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability
22
Find Your Financial Future: Louisiana Banks and Credit Unions
M C Bank & Trust Company Morgan City, LA
LANGUAGE ASSISTANCE: Several bilingual Spanish-speaking employees; Several bilingual French-speaking employees. LOANS AND MORTGAGES Personal Loans below $2,500 Micro Small Business Loans below $10,000 MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Major Credit Card, Matricula Consular, Other Foreign-issued ID, Valid Passport, U.S. Government ID, U.S. Military ID, Alien Registration Card Secondary Identification accepted: Mexican Voter Registration Card, Green Cards, Visas, Matricula Cards, Utility Bill, Social Security Card, Voter Registration Card, Birth Certificate, Credit Card, Bank Card, State or Local Government Card, Company ID, Police ID, Other non-pictured ID Cards ACCOUNTS Passbook Savings Accounts Card-based Electronic Accounts Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, debit card, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with end of banking day when the doors are locked as cut-off time for availability BANKING AND BILL PAY Banking Services during non-traditional banking hours (not including online banking and/or ATMs) Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay
Maple Federal Credit Union Lafayette, LA
STORED VALUE CARDS Stored Value Cards available LOANS AND MORTGAGES Personal Loans below $2,500 MONEY TRANSFERS Electronic Transfer Accounts or similar for low cost money transfers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Foreign-issued Passport, US Passport Secondary Identification is not required ACCOUNTS
23
Find Your Financial Future: Louisiana Banks and Credit Unions
Passbook Savings Accounts Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Banking Services at non-branch locations Free Electronic Statements Free Online and Mobile Banking
Montell Federal Credit Union Westlake, LA
LOANS AND MORTGAGES Personal Loans below $2,500 IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License Secondary Identification is not required ACCOUNTS General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability
Neighbors Federal Credit Union Baton Rouge, LA
FINANCIAL EDUCATION PROGRAMS: Financial literacy for adults and school age children. Budgeting and understanding credit reports. Two high school branches run by students. STORED VALUE CARDS Stored Value Cards available LOANS AND MORTGAGES Payday Loans: Alternative product with an Annual Percentage Rate (APR) below 36% and a repayment period beyond a single pay check cycle with low or no origination fees and a lowered credit score requirement Personal Loans below $2,500 Micro Small Business Loans below $10,000 Low-cost Mortgages Affordable Mortgages: Alternative, portfolio-held product MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Electronic Transfer Accounts or similar for low cost money transfers Contract Money Transfer Services (i.e. Western Union-type transfers) CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Other Foreign-issued ID Secondary Identification is not required, Utility Bill, Insurance Card ACCOUNTS
24
Find Your Financial Future: Louisiana Banks and Credit Unions
Second Chance Checking (Chex Systems report required, debit card driven, NSFs allowed) Passbook Savings Accounts Card-based Electronic Accounts Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Banking Services at non-branch locations Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay TAX ASSISTANCE - FREE Tax Returns: Assistance in filing state and federal returns
Pelican State Credit Union Baton Rouge, LA
FINANCIAL EDUCATION PROGRAMS: We teach Financial Literacy Workshops around the entire state of Louisiana, open to public and members. Multiple subjects and formats are rotated. STORED VALUE CARDS Stored Value Cards available LOANS AND MORTGAGES Personal Loans below $2,500 with savings component (a regular share account) Micro Small Business Loans below $10,000 Low-cost Mortgages Affordable Mortgages: Alternative, portfolio-held product with a lowered credit score requirement MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Electronic Transfer Accounts or similar for low cost money transfers CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Major Credit Card Secondary Identification accepted: Utility Bill, various others ACCOUNTS Second Chance Checking (debit card driven, check writing privileges, NSFs allowed, usually provided with a small service fee of $3-$5) Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, low monthly maintenance fee (up to $3) for checking accounts,
25
Find Your Financial Future: Louisiana Banks and Credit Unions
no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Banking Services during non-traditional banking hours (not including online banking and/or ATMs) Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay TAX ASSISTANCE - FREE Tax Returns: Assistance in filing state and federal returns
Peoples State Bank Natchitoches, LA
FINANCIAL EDUCATION PROGRAMS: Financial Counseling to clients in low to moderate income areas, underbanked and underserved areas, and families that want information on how to stop the cycle of living from pay check to pay check. Financial Counselor, the educational material, and breakfast/lunch is provided by the institution and presented at organized conferences by a Dave Ramsey Certified Counselor: Kelly Brantley. Offers $100 Financial Freedom Counseling Coupons to clients denied for a loan. These are offered to provide info about increasing credit ratings, lowering monthly debt, and increasing approval ability for future requests. LOANS AND MORTGAGES Personal Loans below $2,500 with a suggested savings component Micro Small Business Loans below $10,000 Low-cost Mortgages Affordable Mortgages: Alternative, portfolio-held product MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Electronic Transfer Accounts or similar for low cost money transfers Contract Money Transfer Services (i.e. Western Union-type transfers) CHECK CASHING Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card Secondary Identification accepted: Foreign-issued Passport or Military ID, Utility Bill, Work Badge with picture, Major Credit Card ACCOUNTS Second Chance Checking (check writing privileges, NSFs allowed) Passbook Savings Accounts Active Individual Development Savings Accounts (IDAs) for a local nonprofit IDA administrator Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with 3:00pm as cut-off time for availability
26
Find Your Financial Future: Louisiana Banks and Credit Unions
BANKING AND BILL PAY Banking Services at non-branch locations Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay
Post Office Employees Federal Credit Union Shreveport, LA
LOANS AND MORTGAGES Payday Loans: Alternative product with an Annual Percentage Rate (APR) below 36% and a repayment period beyond a single pay check cycle with low or no origination fees Personal Loans below $2,500 with savings component Low-cost Mortgages Affordable Mortgages: Alternative, portfolio-held product MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Electronic Transfer Accounts or similar for low cost money transfers Contract Money Transfer Services (i.e. Western Union-type transfers) CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Individual Taxpayer ID Number Secondary Identification is not required ACCOUNTS Second Chance Checking (Chex Systems report required, check writing privileges) Passbook Savings Accounts Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Low-cost checking and savings accounts with low opening balance ($5) for savings, low ($1 for checking; $5 for savings) or no minimum monthly balance, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Free Online and Mobile Banking TAX ASSISTANCE - FREE Tax Returns: Assistance in filing state and federal returns
Richland Parish Schools Federal Credit Union Rayville, LA
LOANS AND MORTGAGES Personal Loans below $2,500 IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License
27
Find Your Financial Future: Louisiana Banks and Credit Unions
Secondary Identification is not required ACCOUNTS Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, and an option for direct deposit with no monthly or per item fee
Saint Martin Bank & Trust Co. St. Martinville, LA
FINANCIAL EDUCATION PROGRAMS: Bank at School Program offered in community. STORED VALUE CARDS Stored Value Cards available LOANS AND MORTGAGES Payday Loans: Alternative product with an Annual Percentage Rate (APR) below 36% and a repayment period beyond a single pay check cycle with low or no origination fees and streamlined underwriting Personal Loans below $2,500 Micro Small Business Loans below $10,000 Low-cost Mortgages Affordable Mortgages: Alternative, portfolio-held product MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Electronic Transfer Accounts or similar for low cost money transfers At least two free money orders/e-checks per month with additional offered at low or no fee CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Matricula Consular Secondary Identification accepted: Mexican Voter Registration Card, Other Foreign-issued ID, Utility Bill, Birth Certificate, State ID Card ACCOUNTS Card-based Electronic Accounts Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with 3:00pm as cut-off time for availability BANKING AND BILL PAY Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay
28
Find Your Financial Future: Louisiana Banks and Credit Unions
Section 705 Federal Credit Union Lafayette, LA
LOANS AND MORTGAGES Personal Loans below $2,500 MONEY TRANSFERS Electronic Transfer Accounts or similar for low cost money transfers CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License Secondary Identification is not required ACCOUNTS Passbook Savings Accounts Card-based Electronic Accounts Interest-bearing Accounts Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25) for checking, low ($1) or no minimum monthly balance for checking, debit card, check writing services BANKING AND BILL PAY Free Electronic Statements Free Online and Mobile Banking
Shell New Orleans Federal Credit Union New Orleans, LA
STORED VALUE CARDS Stored Value Cards available LANGUAGE ASSISTANCE: Bilingual Spanish-speaking employee usually present at all branches. Audio response system available in Spanish. LOANS AND MORTGAGES Payday Loans: Alternative product with an Annual Percentage Rate (APR) below 36% and a repayment period beyond a single pay check cycle with low or no origination fees and streamlined underwriting Personal Loans below $2,500 Low-cost Mortgages MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Contract Money Transfer Services (i.e. Western Union-type transfers) CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Matricula Consular, Individual Taxpayer ID Number, Other Foreign-Issued ID, U.S. Passport Secondary Identification accepted: Utility Bill ACCOUNTS Card-based Electronic Accounts Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings
29
Find Your Financial Future: Louisiana Banks and Credit Unions
Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Banking Services at non-branch locations Banking Services during non-traditional banking hours (not including online banking and/or ATMs) Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay
South Louisiana Bank Houma, LA
FINANCIAL EDUCATION PROGRAMS: Money Smart program presented to classes at a local elementary school. Offers a bank at school program. Helps with the Economic Literacy classes given by Catholic Social Services C.E.N.T.S. for micro enterprise groups and teaches at the Home Buyer Education course held by Catholic Housing Services (topics include: banking literacy, understanding the mortgage process, saving, and credit). Provides "banking literacy" classes for youth groups and others from the community upon request. STORED VALUE CARDS Stored Value Cards available LANGUAGE ASSISTANCE: Several bilingual Spanish-speaking employees. LOANS AND MORTGAGES Payday Loans: Alternative product with an Annual Percentage Rate (APR) below 36% and a repayment period beyond a single pay check cycle Personal Loans below $2,500 with savings component that is not required, but customer can borrow and put the money in a savings account to pledge to the loan to help build a credit history Micro Small Business Loans below $10,000 Low-cost Mortgages Affordable Mortgages: Alternative, portfolio-held product with a lowered credit score requirement MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Passport, Military License, Resident Alien Registration Card ACCOUNTS Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($5) for savings, low ($1 for checking; $5 for savings) or no minimum monthly balance, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee Free student checking and a no fee checking account. Student savings accounts have no minimum. Also can open a "club
30
Find Your Financial Future: Louisiana Banks and Credit Unions
savings” account with $5. General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with 3:00pm as cut-off time for availability BANKING AND BILL PAY Free Electronic Statements Free Online and Mobile Banking
St. Jules Credit Union Lafayette, LA
LOANS AND MORTGAGES Personal Loans below $2,500 MONEY TRANSFERS Electronic Transfer Accounts or similar for low cost money transfers CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Individual Taxpayer ID Number, Birth Certificate, Passport Secondary Identification accepted: Utility Bill ACCOUNTS Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, low monthly maintenance fee (up to $3) for checking accounts, small monthly fee, debit card, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Free Electronic Statements Free Online and Mobile Banking
Teche Federal Bank Baton Rouge, LA
MONEY TRANSFERS Electronic Transfer Accounts or similar for low cost money transfers CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Driver’s License, State ID Card, Individual Taxpayer ID Number, Passport, Military ID Secondary Identification accepted: Utility Bill, Other only if address does not match the one provided ACCOUNTS Second Chance Checking (debit card driven, check writing privileges, NSFs allowed) Card-based Electronic Accounts Interest-bearing Accounts
31
Find Your Financial Future: Louisiana Banks and Credit Unions
Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking accounts; no monthly maintenance fee (if minimum balance is met) for basic savings accounts, debit card, check writing services, and an option for direct deposit with no monthly or per item fee; no Chex Systems verification General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Banking Services during non-traditional banking hours (not including online banking and/or ATMs) Free Electronic Statements Free Online and Mobile Banking
Tri Parish Bank Eunice, LA
FINANCIAL EDUCATION PROGRAMS: Usually sponsors home mortgage education, identity theft and other informative (educational) programs. LANGUAGE ASSISTANCE: Bilingual personnel - French LOANS AND MORTGAGES Personal Loans below $2,500 with savings component, but minimum to open savings account is $100, with quarterly fees based on balances Micro Small Business Loans below $10,000 CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Driver’s License, State ID Card, Passport Secondary Identification accepted: Matricula Consular, Foreign-issued Passports, Military-issued ID ACCOUNTS Second Chance Checking (Chex Systems Report required, debit card driven, check writing privileges, NSFs allowed) Card-based Electronic Accounts Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking accounts with low opening balance ($10-25), low ($1) or no minimum monthly balance, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with 3:00pm as cut-off time for availability BANKING AND BILL PAY Free Online and Mobile Banking Free Online and Mobile Bill Pay
32
Find Your Financial Future: Louisiana Banks and Credit Unions
UNO Federal Credit Union New Orleans, LA
LOANS AND MORTGAGES Personal Loans below $2,500 Low-cost Mortgages MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Contract Money Transfer Services (i.e. Western Union-type transfers) CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Foreign-issued Passport, US Passport Secondary Identification is not required ACCOUNTS Second Chance Checking with check writing privileges Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, low monthly maintenance fee (up to $3) for checking accounts, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with no cut-off time for availability BANKING AND BILL PAY Banking Services at non-branch locations Free Electronic Statements Free Online and Mobile Banking
VAC Federal Credit Union Shreveport, LA
LOANS AND MORTGAGES Personal Loans below $2,500 with savings component ($100 deposit required for all loans) Affordable Mortgages: Alternative, portfolio-held product MONEY TRANSFERS Contract Money Transfer Services (i.e. Western Union-type transfers) CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card Secondary Identification accepted: Utility Bill, Passport ACCOUNTS Card-based Electronic Accounts Interest-bearing Accounts Free Automatic (direct deposit) Savings
33
Find Your Financial Future: Louisiana Banks and Credit Unions
Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee BANKING AND BILL PAY Free Online and Mobile Banking Free Online and Mobile Bill Pay
Whitney National Bank New Orleans, LA
FINANCIAL EDUCATION PROGRAMS: Juvenile savings program incorporates a junior bank run by students to learn money management. Conducts homebuyer training programs and FDIC Money Smart training with nonprofit partners. LANGUAGE ASSISTANCE: Bilingual Spanish-speaking staff in call center. LOANS AND MORTGAGES Personal Loans below $2,500 Micro Small Business Loans below $10,000 Affordable Mortgage: Alternative product held in portfolio, low down payment, no minimum credit score required MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Electronic Transfer Accounts or similar for low cost money transfers At least two free money orders/e-checks per month with additional offered at low or no fee IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card Secondary Identification is not required ACCOUNTS Card-based Electronic Accounts Interest-bearing Accounts Active Individual Development Saving Accounts (IDAs) for a local nonprofit IDA administrator Low-cost checking and savings accounts with low ($5) or no minimum monthly balance for savings, no monthly maintenance fee (if minimum balance is met) for basic savings accounts, small monthly fee, debit card, check writing services, and an option for direct deposit with no monthly or per item fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with 5:00pm as cut-off time for availability BANKING AND BILL PAY Free Electronic Statements Free Online and Mobile Banking
Wymar Federal Credit Union Geismar, LA
STORED VALUE CARDS Stored Value Cards LANGUAGE ASSISTANCE: LOANS AND MORTGAGES Payday Loans: Alternative product with an Annual Percentage Rate (APR) below 36% and a repayment period beyond a single pay check cycle with low or no origination fees and streamlined underwriting Personal Loans below $2,500
34
Find Your Financial Future: Louisiana Banks and Credit Unions
Low-cost Mortgages Affordable Mortgages: Alternative, portfolio-held product MONEY TRANSFERS Wire Transfers at competitive market rate for domestic and international Electronic Transfer Accounts or similar for low cost money transfers Contract Money Transfer Services (i.e. Western Union-type transfers) CHECK CASHING Free Check Cashing Services (if drawn on our bank) and Low-fee Check Cashing Services (if drawn on another bank) Check Cashing Services at low cost relative to other alternative check cashers IDENTIFICATION Primary Identification accepted: Social Security Number/Card, Driver’s License, State ID Card, Individual Taxpayer ID Number, Foreign-issued Passport Secondary Identification is not required ACCOUNTS Interest-bearing Accounts Free Direct Deposit for tax refunds or pay checks Free Automatic (direct deposit) Savings Low-cost checking and savings accounts with low opening balance ($10-25 for checking; $5 for savings), low ($1 for checking; $5 for savings) or no minimum monthly balance, low monthly maintenance fee (up to $3) for checking accounts, debit card, check writing services, and an option for direct deposit with no monthly or per item fee; no monthly fee General same-day, or next-day from an established customer, funds availability (subject to appropriate exceptions, e.g. large deposits) with closing time as cut-off for availability BANKING AND BILL PAY Banking Services at non-branch locations Free Electronic Statements Free Online and Mobile Banking Free Online and Mobile Bill Pay
35
Find Your Financial Future: Louisiana Banks and Credit Unions
Innovative Products and Services Detailed Listings FINANCIAL EDUCATION PROGRAMS Information sessions that can cover a wide variety of topics including basic financial literacy, checking, budgeting, credit counseling, first time homebuyer education and counseling, foreclosure prevention counseling, money management, etc. Acadian Federal Credit Union (Lafayette, LA) Offers one-on-one sessions with members and holds classes in their board room. ASI Federal Credit Union (Harahan, LA) ASIFCU created an affiliate nonprofit in 2005 to promote financial literacy. The nonprofit, A Shared Initiative, Inc., offers foreclosure prevention counseling, credit counseling, first time homebuyer education/pre-purchase counseling and basic financial literacy. Barksdale Federal Credit Union (Bossier City, LA) Free seminars / classes: Checking, Budgeting, Credit 101, Home Buying, Career and Children's Money Management. Carville Employees Federal Credit Union (Carville, LA) One-on-one counseling: Manager sits with member to explain negative accounts and develops a plan to clear items up. Also explains how to keep working towards improving credit. Community Trust Bank (Monroe, LA) Bank at School; Money Smart; Financial Literacy Fidelity Homestead Savings Bank (New Orleans, LA) Get Smart About Credit offered annaully to high school youth; First Time Homebuyer Education offered all year long with non-profit partners. First American Bank and Trust (Vacherie, LA) Offered financial education classes to the local schools. First Federal Bank of Louisiana (Lake Charles, LA) FDIC Money Smart Financial Education, Homebuyer Education and Teach Children to Save Programs First Guaranty Bank (Hammond, LA) Supplies financial education materials to local schools. IBERIABANK (Lafayette, LA) Offers FDIC Money Smart or other curriculum through NGO; NMTCs; In-School Banking Program with a dedicated branch in an elementary school. Iberville Bank (Plaquemine, LA) Educational presentations by employees to communities and schools in the areas we serve. Jeff Davis Bank & Trust Co. (Jennings, LA) Jeff Davis Bank & Trust Co. (Lake Charles, LA) How To Do Your Banking education for local schools. Lafayette Schools' Federal Credit Union (Lafayette, LA) Offers financial literacy courses at local schools.
Liberty Bank (New Orleans, LA) Offers Basic Banking 101 to more advanced curriculum. Launching a new financial education website. Offers programs for kids as young as 7. Participates in community programs and partners with customers to provide financial literacy to their employees and clients. Neighbors Federal Credit Union (Baton Rouge, LA) Financial literacy for adults and school age children. Budgeting and understanding credit reports. Two high school branches run by students. Peoples State Bank (Natchitoches, LA) Financial Counseling to clients in low to moderate income areas, underbanked and underserved areas, and families that want information on how to stop the cycle of living from pay check to pay check. Financial Counselor, the educational material, and breakfast/lunch is provided by the institution and presented at organized conferences by a Dave Ramsey Certified Counselor: Kelly Brantley. Offers $100 Financial Freedom Counseling Coupons to clients denied for a loan. These are offered to provide info about increasing credit ratings, lowering monthly debt, and increasing approval ability for future requests. Saint Martin Bank & Trust Co. (St. Martinville, LA) Bank at School Program offered in community. South Louisiana Bank (Houma, LA) Money Smart program presented at a local elementary school. Offers a bank at school program. Helps with the Economic Literacy classes given by Catholic Social Services C.E.N.T.S. for micro enterprise groups and teaches at the Home Buyer Education course held by Catholic Housing Services (topics include: banking literacy, understanding the mortgage process, saving, and credit). Provides "banking literacy" classes for youth groups and others from the community upon request. Tri Parish Bank (Eunice, LA) Usually sponsors home mortgage education, identity theft and other informative (educational) programs. Whitney National Bank (New Orleans, LA) Juvenile savings program incorporates a junior bank run by students to learn money management. Conducts homebuyer training programs and FDIC Money Smart training with nonprofit partners.
36
Find Your Financial Future: Louisiana Banks and Credit Unions
LANGUAGE ASSISTANCE Many financial institutions have employees who speak a wide variety of languages and who can help customers for whom English is not a primary language. Printed materials may also be available in multiple languages. ASI Federal Credit Union (Harahan, LA) Bilingual capabilities in Spanish and Vietnamese; bilingual personnel employed in various branches. Two fully bilingual branches. Fidelity Homestead Savings Bank (New Orleans, LA) Bilingual Spanish-speaking personnel. First American Bank and Trust (Vacherie, LA) Two bilingual Spanish-speaking tellers / CSRs. First NBC Bank (New Orleans, LA) Spanish-speaking and Vietnamese-speaking personnel. First Pioneers Federal Credit Union (Lafayette, LA) Bilingual French-speaking employees. Liberty Bank (New Orleans, LA) Bilingual Spanish-speaking employee. Launching a new website with bilingual financial education information as well as brochures.
M C Bank & Trust Company (Morgan City, LA) Several bilingual Spanish-speaking employees; Several bilingual French-speaking employees. Shell New Orleans Federal Credit Union (New Orleans, LA) Bilingual Spanish-speaking employee usually present at all branches. Audio response system available in Spanish. South Louisiana Bank (Houma, LA) Several bilingual Spanish-speaking employees. Tri Parish Bank (Eunice, LA) Bilingual French-speaking personnel. Whitney National Bank (New Orleans, LA) Bilingual Spanish-speaking staff in call center.
STORED VALUE CARDS A stored value card uses magnetic stripe technology to store information about funds that have been prepaid to the card. One example is a gift card, which can only be used to purchase goods at a particular retailer. Another example is a multipurpose or “open-loop” card that can be used at a wide variety of retail locations, such as a card with a Visa or MasterCard brand that can be used wherever those brands are accepted. Unlike a debit card, which must be tied to a particular account, a person can use a stored value card even if the person does not have an account at a bank. These cards are typically anonymous and can be used by whoever possesses the card, and thus users of stored value cards must be careful to guard the cards against theft. ASI Federal Credit Union, Harahan, LA Bank of Ruston, Ruston, LA Community Trust Bank, Monroe, LA First American Bank and Trust, Vacherie, LA First Federal Bank of Louisiana, Lake Charles, LA First Guaranty Bank, Hammond, LA Hancock Bank, Mandeville, LA Iberville Bank, Plaquemine, LA
Maple Federal Credit Union, Lafayette, LA Neighbors Federal Credit Union, Baton Rouge, LA Pelican State Credit Union, Baton Rouge, LA Saint Martin Bank & Trust Co., St Martinville, LA Shell New Orleans Federal Credit Union, New Orleans, LA South Louisiana Bank, Houma, LA Wymar Federal Credit Union, Geismar, LA
37
Find Your Financial Future: Louisiana Banks and Credit Unions
PAYDAY LOANS An alternative product with an Annual Percentage Rate (APR) below 36% and a repayment period that goes beyond a single pay check cycle. Features can include low or no origination fees, streamlined underwriting and/or automatic savings. Acadian Federal Credit Union, Lafayette, LA ASI Federal Credit Union, Harahan, LA Barksdale Federal Credit Union, Bossier City, LA Calcasieu Teachers & Employees Credit Union, Lake Charles, LA Carville Employees Federal Credit Union, Carville, LA District 05 DOTD Federal Credit Union, Monroe, LA First Pioneers Federal Credit Union, Lafayette, LA Liberty Bank, New Orleans, LA
Neighbors Federal Credit Union, Baton Rouge, LA Post Office Employees Federal Credit Union, Shreveport, LA Saint Martin Bank & Trust Co., St. Martinville, LA Shell New Orleans Federal Credit Union, New Orleans, LA South Louisiana Bank, Houma, LA Wymar Federal Credit Union, Geismar, LA
PERSONAL LOANS BELOW $2,500 Many financial institutions offer personal loans of under $2,500 to individuals with special financial needs. These loans can sometimes be obtained even without a credit check or without the need to put up collateral as security. The interest rates on these loans can make them much more attractive than credit card debt. If the borrowed money is being used to purchase one specific item, retailers will sometimes work with finance companies to make it easier for customers to obtain personal loans for that specific item. Personal loans from a financial institution can be more flexible because they can be used for a variety of reasons, not just for the purchase of a specific product. Acadian Federal Credit Union, Lafayette, LA Allied Plastics FCU, Baton Rouge, LA ASI Federal Credit Union, Harahan, LA Bank of Ruston, Ruston, LA Barksdale Federal Credit Union, Bossier City, LA Calcasieu Teachers & Employees Credit Union, Lake Charles, LA Carville Employees Federal Credit Union, Carville, LA Community Trust Bank, Monroe, LA District 05 DOTD Federal Credit Union, Monroe, LA Dresser Alexandria Federal Credit Union, Tioga, LA Fidelity Homestead Savings Bank, New Orleans, LA First American Bank and Trust, Vacherie, LA First Federal Bank of Louisiana, Lake Charles, LA First Guaranty Bank, Hammond, LA First NBC Bank, New Orleans, LA First Pioneers Federal Credit Union, Lafayette, LA Hancock Bank, Mandeville, LA IBERIABANK, Lafayette, LA Iberville Bank, Plaquemine, LA Immaculate Heart of Mary Credit Union, Lafayette, LA Jeff Davis Bank & Trust Co., Lake Charles, LA Lafayette Schools' Federal Credit Union, Lafayette, LA
Liberty Bank, New Orleans, LA Louisiana Farm Bureau Credit Union, Baton Rouge, LA M C Bank & Trust Company, Morgan City, LA Maple Federal Credit Union, Lafayette, LA Montell Federal Credit Union, Westlake, LA Neighbors Federal Credit Union, Baton Rouge, LA Pelican State Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Post Office Employees Federal Credit Union, Shreveport, LA Richland Parish Schools Federal Credit Union, Rayville, LA Saint Martin Bank & Trust Co., St. Martinville, LA Section 705 Federal Credit Union, Lafayette, LA Shell New Orleans Federal Credit Union, New Orleans, LA South Louisiana Bank, Houma, LA St. Jules Credit Union, Lafayette, LA Tri Parish Bank, Eunice, LA UNO Federal Credit Union, New Orleans, LA VAC Federal Credit Union, Shreveport, LA Whitney National Bank, New Orleans, LA Wymar Federal Credit Union, Geismar, LA
38
Find Your Financial Future: Louisiana Banks and Credit Unions
MICRO SMALL BUSINESS LOANS BELOW $10,000 These are short-term loans to small businesses that can be used for working capital or for the purchase of inventory, supplies, furniture, fixtures, machinery or equipment. The average loan amount is $13,000, but can sometimes be as much as $35,000. These loans typically cannot be used to pay existing debts or to purchase real estate. Financial institutions typically require some type of collateral and the personal guarantees of the business owner. Loan terms are typically no more than six years, and rates are generally higher than standard business loans, typically between 8% and 13%. Micro small business loans are a good source of funds for a business that has never before borrowed from a bank. ASI Federal Credit Union, Harahan, LA Barksdale Federal Credit Union, Bossier City, LA Community Trust Bank, Monroe, LA First Federal Bank of Louisiana, Lake Charles, LA First Guaranty Bank, Hammond, LA First NBC Bank, New Orleans, LA Hancock Bank, Mandeville, LA Iberville Bank, Plaquemine, LA Neighbors Federal Credit Union, Baton Rouge, LA
Jeff Davis Bank & Trust Co., Lake Charles, LA Liberty Bank, New Orleans, LA M C Bank & Trust Company, Morgan City, LA Pelican State Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Saint Martin Bank & Trust Co., St. Martinville, LA South Louisiana Bank, Houma, LA Tri Parish Bank, Eunice, LA Whitney National Bank, New Orleans, LA
LOW-COST MORTGAGES This is a mortgage in which the borrower pays little to no points, little to no lender or third-party fees and/or little to no cash must be paid up front. The interest rate on this type of loan is higher than a loan with standard costs. This type of mortgage is often best for borrowers who plan to sell or refinance in a few years. ASI Federal Credit Union, Harahan, LA Barksdale Federal Credit Union, Bossier City, LA District 05 DOTD Federal Credit Union, Monroe, LA Fidelity Homestead Savings Bank, New Orleans, LA First Guaranty Bank, Hammond, LA Hancock Bank, Mandeville, LA IBERIABANK, Lafayette, LA Lafayette Schools' Federal Credit Union, Lafayette, LA Liberty Bank, New Orleans, LA Neighbors Federal Credit Union, Baton Rouge, LA
Pelican State Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Post Office Employees Federal Credit Union, Shreveport, LA Saint Martin Bank & Trust Co., St. Martinville, LA Shell New Orleans Federal Credit Union, New Orleans, LA South Louisiana Bank, Houma, LA UNO Federal Credit Union, New Orleans, LA Wymar Federal Credit Union, Geismar, LA
39
Find Your Financial Future: Louisiana Banks and Credit Unions
AFFORDABLE MORTGAGES: ALTERNATIVE, PORTFOLIO-HELD PRODUCT Borrowers who have less than the full documentation, have lower credit scores, or have higher loan-to-values may not qualify for normal prime loans. Instead, they can sometimes qualify for an Alternative A-paper or Alt-A mortgage with a higher interest rate (but a better rate than a subprime mortgage). Portfolio-held mortgages are held by a financial institution rather than being resold to investors. ASI Federal Credit Union, Harahan, LA Barksdale Federal Credit Union, Bossier City, LA Fidelity Homestead Savings Bank, New Orleans, LA First Federal Bank of Louisiana, Lake Charles, LA First Guaranty Bank, Hammond, LA First NBC Bank, New Orleans, LA Hancock Bank, Mandeville, LA Iberville Bank, Plaquemine, LA Liberty Bank, New Orleans, LA Neighbors Federal Credit Union, Baton Rouge, LA
Pelican State Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Post Office Employees Federal Credit Union, Shreveport, LA Saint Martin Bank & Trust Co., St. Martinville, LA South Louisiana Bank, Houma, LA VAC Federal Credit Union, Shreveport, LA Whitney National Bank, New Orleans, LA Wymar Federal Credit Union, Geismar, LA
WIRE TRANSFERS AT COMPETITIVE MARKET RATE FOR DOMESTIC AND INTERNATIONAL Wire transfer is a method of electronic funds transfer from one bank account to another bank account or through a transfer of cash at an institution set up to transfer cash via wire transfer. Many financial institutions offer wire transfers at a competitive market rate for domestic and international transfers. Costs tend to be higher for more immediate, time-critical transactions. For international transfers, risks associated with fluctuation in currencies may be reduced by faster wire transactions. Acadian Federal Credit Union, Lafayette, LA Allied Plastics Federal Credit Union, Baton Rouge, LA ASI Federal Credit Union, Harahan, LA Barksdale Federal Credit Union, Bossier City, LA Community Trust Bank, Monroe, LA District 05 DOTD Federal Credit Union, Monroe, LA First Federal Bank of Louisiana, Lake Charles, LA First Guaranty Bank, Hammond, LA First NBC Bank, New Orleans, LA First Pioneers Federal Credit Union, Lafayette, LA Hancock Bank, Mandeville, LA IBERIABANK, Lafayette, LA Iberville Bank, Plaquemine, LA Jeff Davis Bank & Trust Co., Lake Charles, LA Lafayette Schools' Federal Credit Union, Lafayette, LA
Liberty Bank, New Orleans, LA M C Bank & Trust Company, Morgan City, LA Neighbors Federal Credit Union, Baton Rouge, LA Pelican State Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Post Office Employees Federal Credit Union, Shreveport, LA Saint Martin Bank & Trust Co., St. Martinville, LA Shell New Orleans Federal Credit Union, New Orleans, LA South Louisiana Bank, Houma, LA UNO Federal Credit Union, New Orleans, LA Whitney National Bank, New Orleans, LA Wymar Federal Credit Union, Geismar, LA
40
Find Your Financial Future: Louisiana Banks and Credit Unions
ELECTRONIC TRANSFER ACCOUNTS OR SIMILAR FOR LOW COST MONEY TRANSFERS Electronic Transfer Accounts, also called ETAs, are a fast and confidential way for Federal payment recipients to receive money from the U.S. Department of the Treasury through programs such as Social Security, SSI, Railroad Retirement Board Payments, OPM Retirement, VA Benefits, DOL/Black Lung, and Civilian or Military salary or wages. This federally insured account allows a recipient to enjoy the safety, security and convenience of electronic payments, even if the recipient does not have a checking or savings account. The cost is no more than $3 a month, and a recipient can withdraw money out of an ETA at least four times a month, often with no requirement to maintain a minimum balance. Acadian Federal Credit Union, Lafayette, LA ASI Federal Credit Union, Harahan, LA Barksdale Federal Credit Union, Bossier City, LA Carville Employees Federal Credit Union, Carville, LA Community Trust Bank, Monroe, LA District 05 DOTD Federal Credit Union, Monroe, LA First Federal Bank of Louisiana, Lake Charles, LA Hancock Bank, Mandeville, LA Iberville Bank, Plaquemine, LA Maple Federal Credit Union, Lafayette, LA Neighbors Federal Credit Union, Baton Rouge, LA
Pelican State Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Post Office Employees Federal Credit Union, Shreveport, LA Saint Martin Bank & Trust Co., St. Martinville, LA Section 705 Federal Credit Union, Lafayette, LA St. Jules Credit Union, Lafayette, LA Teche Federal Bank, Baton Rouge, LA Whitney National Bank, New Orleans, LA Wymar Federal Credit Union, Geismar, LA
CONTRACT MONEY TRANSFER SERVICES (I.E. WESTERN UNION-TYPE TRANSFERS) Money transfer services such as Western Union allow an individual to quickly send money to another person in another city or country without the need to use a bank wire transfer. The recipient can receive the money simply by presenting his name and a ten digit money transfer control number that the sender transmits separately to the recipient. This is often an ideal solution for immigrants and non-U.S. residents who regularly transfer money abroad. Acadian Federal Credit Union, Lafayette, LA ASI Federal Credit Union, Harahan, LA Barksdale Federal Credit Union, Bossier City, LA District 05 DOTD Federal Credit Union, Monroe, LA Hancock Bank, Mandeville, LA Lafayette Schools' Federal Credit Union, Lafayette, LA Neighbors Federal Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA
Post Office Employees Federal Credit Union, Shreveport, LA Shell New Orleans Federal Credit Union, New Orleans, LA UNO Federal Credit Union, New Orleans, LA VAC Federal Credit Union, Shreveport, LA Wymar Federal Credit Union, Geismar, LA
AT LEAST TWO FREE MONEY ORDERS / E-CHECKS PER MONTH WITH ADDITIONAL OFFERED AT LOW OR NO FEE ASI Federal Credit Union, Harahan, LA Community Trust Bank, Monroe, LA Dresser Alexandria Federal Credit Union, Tioga, LA Iberville Bank, Plaquemine, LA
Liberty Bank, New Orleans, LA Saint Martin Bank & Trust Co., St. Martinville, LA Whitney National Bank, New Orleans, LA
41
Find Your Financial Future: Louisiana Banks and Credit Unions
FREE CHECK CASHING SERVICES (IF DRAWN ON THEIR BANK) AND LOW-FEE CHECK CASHING SERVICES (IF DRAWN ON ANOTHER BANK) Acadian Federal Credit Union, Lafayette, LA Allied Plastics Federal Credit Union, Baton Rouge, LA ASI Federal Credit Union, Harahan, LA Calcasieu Teachers & Employees Credit Union, Lake Charles, LA Carville Employees Federal Credit Union, Carville, LA Community Trust Bank, Monroe, LA District 05 DOTD Federal Credit Union, Monroe, LA First Guaranty Bank, Hammond, LA Hancock Bank, Mandeville, LA Jeff Davis Bank & Trust Co., Lake Charles, LA Lafayette Schools' Federal Credit Union, Lafayette, LA Liberty Bank, New Orleans, LA M C Bank & Trust Company, Morgan City, LA Neighbors Federal Credit Union, Baton Rouge, LA
Pelican State Credit Union, Baton Rouge, LA Post Office Employees Federal Credit Union, Shreveport, LA Saint Martin Bank & Trust Co., St. Martinville, LA Section 705 Federal Credit Union, Lafayette, LA Shell New Orleans Federal Credit Union, New Orleans, LA South Louisiana Bank, Houma, LA St. Jules Credit Union, Lafayette, LA Teche Federal Bank, Baton Rouge, LA Tri Parish Bank, Eunice, LA UNO Federal Credit Union, New Orleans, LA VAC Federal Credit Union, Shreveport, LA Wymar Federal Credit Union, Geismar, LA
CHECK CASHING SERVICES AT LOW COST RELATIVE TO OTHER ALTERNATIVE CHECK CASHERS Acadian Federal Credit Union, Lafayette, LA Allied Plastics Federal Credit Union, Baton Rouge, LA ASI Federal Credit Union, Harahan, LA Carville Employees Federal Credit Union, Carville, LA Community Trust Bank, Monroe, LA District 05 DOTD Federal Credit Union, Monroe, LA Hancock Bank, Mandeville, LA Iberville Bank, Plaquemine, LA Jeff Davis Bank & Trust Co., Lake Charles, LA M C Bank & Trust Company, Morgan City, LA Neighbors Federal Credit Union, Baton Rouge, LA Pelican State Credit Union, Baton Rouge, LA
Peoples State Bank, Natchitoches, LA Post Office Employees Federal Credit Union, Shreveport, LA Saint Martin Bank & Trust Co., St. Martinville, LA Shell New Orleans Federal Credit Union, New Orleans, LA South Louisiana Bank, Houma, LA Teche Federal Bank, Baton Rouge, LA Tri Parish Bank, Eunice, LA UNO Federal Credit Union, New Orleans, LA VAC Federal Credit Union, Shreveport, LA Wymar Federal Credit Union, Geismar, LA
42
Find Your Financial Future: Louisiana Banks and Credit Unions
TYPES OF PRIMARY IDENTIFICATION ACCEPTED Documentation used to prove that a person is who he says that he is. Examples can include a driver’s license, state ID card, passport, Social Security card, etc.
Financial Institution
Social Security Number/ Card
Driver's License
State ID Card
Acadian Federal Credit Union
x
x
x
Allied Plastics FCU
x
x
x
ASI Federal Credit Union
x
x
Bank of Ruston Barksdale FCU
x x
x x
x x
Calcasieu Teachers &
x
x
x
x
x
x
x
x
Major Credit Card
Matricula Consular
Individual Taxpayer ID Number
Other foreignissued ID
x
x
x x
x
x x
Other (see full listings for details)
x
Employees Credit Union
Carville Employees FCU Community Trust Bank District 05 DOTD FCU
x
x
x
x
Dresser Alexandria FCU
x
x
x
x
Fidelity Homestead Savings
x
Bank
First American Bank and
x
x
x
x
x
x x x x x x x x x x x x x x x x x
x x x x x x x
Trust
First Federal Bank of
x
Louisiana
First Guaranty Bank First NBC Bank First Pioneers FCU Hancock Bank
x x
IBERIABANK Iberville Bank Immaculate Heart of Mary CU Jeff Davis Bank & Trust Co. Lafayette Schools' FCU Liberty Bank Louisiana Farm Bureau CU M C Bank & Trust Company Maple Federal Credit Union Montell Federal Credit Union Neighbors FCU Pelican State Credit Union Peoples State Bank
x x x x x x x x x x x x
x
x x
x
x x
x x x x
x
x
x
x
x x x
x x x
x
43
x
x x
x
Find Your Financial Future: Louisiana Banks and Credit Unions
TYPES OF PRIMARY IDENTIFICATION ACCEPTED, cont. Financial Institution
Social Security Number/ Card
Driver's License
State ID Card
Post Office Employees FCU
x
x
x
Richland Parish Schools FCU
x
x
Saint Martin Bank & Trust Co.
x
x
Section 705 FCU
x
x
Shell New Orleans FCU South Louisiana Bank
x x
St. Jules Credit Union
x
Major Credit Card
Matricula Consular
Individual Taxpayer ID Number
Other foreignissued ID
Other (see full listings for details)
x
x x
x
x
x
x x
x x
x
x
x
x
x
Teche Federal Bank
x
x
x
x
Tri Parish Bank
x x
UNO Federal Credit Union
x
x x
VAC Federal Credit Union
x
x
x
Whitney National Bank
x
x
x
Wymar Federal Credit Union
x
x
x
x
x x
x
x
x
TYPES OF SECONDARY IDENTIFICATION ACCEPTED Documentation used to prove that a person is who he says that he is when the primary identification documents are not enough. Example can include a utility bill in the person’s name, a voter registration card, or a birth certificate.
FINANCIAL INSTITUTION:
Secondary ID
Mexican Voter
Other
Utility
Other
Not Required
Registration
foreign-
Bill
(see full
Card
issued
listings for
ID
details)
Acadian Federal Credit Union Allied Plastics FCU
x x
ASI Federal Credit Union
x
x
x
x
Barksdale Federal Credit Union
x
x
Calcasieu Teachers & Employees Credit Union
x
Carville Employees Federal Credit Union
x
Bank of Ruston
x
x
x
Community Trust Bank
x
District 05 DOTD Federal Credit Union
x
Dresser Alexandria Federal Credit Union
x
Fidelity Homestead Savings Bank
x
x
First American Bank and Trust
x
44
Find Your Financial Future: Louisiana Banks and Credit Unions
TYPES OF SECONDARY IDENTIFICATION ACCEPTED, cont. FINANCIAL INSTITUTION:
Secondary ID
Mexican Voter
Other
Utility
Other
Not Required
Registration
foreign-
Bill
(see full
Card
issued
listings for
ID
details)
First Federal Bank of Louisiana
x
x
First Guaranty Bank
x
First NBC Bank
x
First Pioneers Federal Credit Union
x
Hancock Bank
x
IBERIABANK
x
Immaculate Heart of Mary Credit Union
x
Jeff Davis Bank & Trust Co.
x
x
x
x
x
Neighbors Federal Credit Union
x
x
Pelican State Credit Union
x
x
x
x
x
x
x
x
Lafayette Schools' Federal Credit Union
x
Liberty Bank
x
Louisiana Farm Bureau Credit Union
x
M C Bank & Trust Company
x
Maple Federal Credit Union
x
Montell Federal Credit Union
x
Peoples State Bank Post Office Employees Federal Credit Union
x
Richland Parish Schools Federal Credit Union
x
Saint Martin Bank & Trust Co. Section 705 Federal Credit Union
x x
Shell New Orleans Federal Credit Union
x
St. Jules Credit Union
x
Teche Federal Bank
x
Tri Parish Bank UNO Federal Credit Union
x
x x
x
VAC Federal Credit Union
x
Whitney National Bank
x
Wymar Federal Credit Union
x
45
x
Find Your Financial Future: Louisiana Banks and Credit Unions
SECOND CHANCE CHECKING Flexible checking account system which may include features such as a required Chex Systems report, debit card driven, check writing privileges, NSFs allowed, usually provided with a small service fee ($3-$5). See full bank listing for details. ASI Federal Credit Union, Harahan, LA Barksdale Federal Credit Union, Bossier City, LA Calcasieu Teachers & Employees Credit Union, Lake Charles, LA Carville Employees Federal Credit Union, Carville, LA Dresser Alexandria Federal Credit Union, Tioga, LA First Federal Bank of Louisiana, Lake Charles, LA Hancock Bank, Mandeville, LA Lafayette Schools' Federal Credit Union, Lafayette, LA
Liberty Bank, New Orleans, LA Neighbors Federal Credit Union, Baton Rouge, LA Pelican State Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Post Office Employees Federal Credit Union, Shreveport, LA Teche Federal Bank, Baton Rouge, LA Tri Parish Bank, Eunice, LA UNO Federal Credit Union, New Orleans, LA
PASSBOOK SAVINGS ACCOUNTS A savings account where all record of credits and debits are recorded on a passbook usually kept by the account holder. This type of account can be appropriate for depositors who transact infrequently on their account and who do not have a need for a monthly statement. Acadian Federal Credit Union, Lafayette, LA Allied Plastics Federal Credit Union, Baton Rouge, LA ASI Federal Credit Union, Harahan, LA Community Trust Bank, Monroe, LA Fidelity Homestead Savings Bank, New Orleans, LA First Federal Bank of Louisiana, Lake Charles, LA First Pioneers Federal Credit Union, Lafayette, LA Iberville Bank, Plaquemine, LA Immaculate Heart of Mary Credit Union, Lafayette, LA Jeff Davis Bank & Trust Co., Lake Charles, LA
Lafayette Schools' Federal Credit Union, Lafayette, LA Liberty Bank, New Orleans, LA M C Bank & Trust Company, Morgan City, LA Maple Federal Credit Union, Lafayette, LA Neighbors Federal Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Post Office Employees Federal Credit Union, Shreveport, LA Section 705 Federal Credit Union, Lafayette, LA
INDIVIDUAL DEVELOPMENT SAVINGS ACCOUNTS (IDAs) FOR A LOCAL NONPROFIT IDA ADMINISTRATOR An Individual Development Account (IDA) is a matched savings account that allows low income families to save and build assets. IDAs are often available only for restricted uses, such as purchasing a first home, pursuing post-secondary education or starting or expanding a small business. IDAs are typically sponsored by a local non-profit organization. ASI Federal Credit Union, Harahan, LA Community Trust Bank, Monroe, LA Fidelity Homestead Savings Bank, New Orleans, LA
Peoples State Bank, Natchitoches, LA Whitney National Bank, New Orleans, LA
46
Find Your Financial Future: Louisiana Banks and Credit Unions
CARD-BASED ELECTRONIC ACCOUNTS These are typically checkless accounts, allowing withdrawals only through ATMs, point-of-sale terminals, automated clearinghouse preauthorizations, and other automated means. There may or may not be overdraft or NSF fees associated with these accounts. Acadian Federal Credit Union, Lafayette, LA Allied Plastics Federal Credit Union, Baton Rouge, LA ASI Federal Credit Union, Harahan, LA Bank of Ruston, Ruston, LA Community Trust Bank, Monroe, LA District 05 DOTD Federal Credit Union, Monroe, LA First American Bank and Trust, Vacherie, LA First Federal Bank of Louisiana, Lake Charles, LA First Pioneers Federal Credit Union, Lafayette, LA Jeff Davis Bank & Trust Co., Lake Charles, LA Lafayette Schools' Federal Credit Union, Lafayette, LA
Liberty Bank, New Orleans, LA M C Bank & Trust Company, Morgan City, LA Neighbors Federal Credit Union, Baton Rouge, LA Saint Martin Bank & Trust Co., St. Martinville, LA Section 705 Federal Credit Union, Lafayette, LA Shell New Orleans Federal Credit Union, New Orleans, LA Teche Federal Bank, Baton Rouge, LA Tri Parish Bank, Eunice, LA VAC Federal Credit Union, Shreveport, LA Whitney National Bank, New Orleans, LA
INTEREST-BEARING ACCOUNTS Checking or savings accounts that earn interest. Agrico Chem Federal Credit Union, St. James, LA Allied Plastics Federal Credit Union, Baton Rouge, LA ASI Federal Credit Union, Harahan, LA Bank of Ruston, Ruston, LA Barksdale Federal Credit Union, Bossier City, LA Carville Employees Federal Credit Union, Carville, LA Community Trust Bank, Monroe, LA District 05 DOTD Federal Credit Union, Monroe, LA Dresser Alexandria Federal Credit Union, Tioga, LA Fidelity Homestead Savings Bank, New Orleans, LA First American Bank and Trust, Vacherie, LA First Federal Bank of Louisiana, Lake Charles, LA First Guaranty Bank, Hammond, LA First NBC Bank, New Orleans, LA First Pioneers Federal Credit Union, Lafayette, LA Hancock Bank, Mandeville, LA IBERIABANK, Lafayette, LA Iberville Bank, Plaquemine, LA Immaculate Heart of Mary Credit Union, Lafayette, LA Jeff Davis Bank & Trust Co., Lake Charles, LA
Lafayette Schools' Federal Credit Union, Lafayette, LA Liberty Bank, New Orleans, LA M C Bank & Trust Company, Morgan City, LA Neighbors Federal Credit Union, Baton Rouge, LA Pelican State Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Post Office Employees Federal Credit Union, Shreveport, LA Saint Martin Bank & Trust Co., St. Martinville, LA Section 705 Federal Credit Union, Lafayette, LA Shell New Orleans Federal Credit Union, New Orleans, LA South Louisiana Bank, Houma, LA St. Jules Credit Union, Lafayette, LA Teche Federal Bank, Baton Rouge, LA Tri Parish Bank, Eunice, LA UNO Federal Credit Union, New Orleans, LA VAC Federal Credit Union, Shreveport, LA Whitney National Bank, New Orleans, LA Wymar Federal Credit Union, Geismar, LA
47
Find Your Financial Future: Louisiana Banks and Credit Unions
FREE DIRECT DEPOSIT FOR TAX REFUNDS OR PAY CHECKS Direct deposit is a method of transferring funds through electronic payments without the hassle of paper checks. Acadian Federal Credit Union, Lafayette, LA Agrico Chem Federal Credit Union, St. James, LA Allied Plastics Federal Credit Union, Baton Rouge, LA ASI Federal Credit Union, Harahan, LA Barksdale Federal Credit Union, Bossier City, LA Calcasieu Teachers & Employees Credit Union, Lake Charles, LA Carville Employees Federal Credit Union, Carville, LA Community Trust Bank, Monroe, LA District 05 DOTD Federal Credit Union, Monroe, LA Dresser Alexandria Federal Credit Union, Tioga, LA First Federal Bank of Louisiana, Lake Charles, LA First Guaranty Bank, Hammond, LA First Pioneers Federal Credit Union, Lafayette, LA Hancock Bank, Mandeville, LA IBERIABANK, Lafayette, LA Jeff Davis Bank & Trust Co., Lake Charles, LA
Lafayette Schools' Federal Credit Union, Lafayette, LA Liberty Bank, New Orleans, LA M C Bank & Trust Company, Morgan City, LA Neighbors Federal Credit Union, Baton Rouge, LA Pelican State Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Post Office Employees Federal Credit Union, Shreveport, LA Saint Martin Bank & Trust Co., St. Martinville, LA Shell New Orleans Federal Credit Union, New Orleans, LA South Louisiana Bank, Houma, LA St. Jules Credit Union, Lafayette, LA Teche Federal Bank, Baton Rouge, LA Tri Parish Bank, Eunice, LA UNO Federal Credit Union, New Orleans, LA Wymar Federal Credit Union, Geismar, LA
FREE AUTOMATIC (DIRECT DEPOSIT) SAVINGS Direct deposit is a method of transferring funds through electronic payments without the hassle of paper checks. Allied Plastics Federal Credit Union, Baton Rouge, LA ASI Federal Credit Union, Harahan, LA Barksdale Federal Credit Union, Bossier City, LA Calcasieu Teachers & Employees Credit Union, Lake Charles, LA Carville Employees Federal Credit Union, Carville, LA District 05 DOTD Federal Credit Union, Monroe, LA Dresser Alexandria Federal Credit Union, Tioga, LA First Federal Bank of Louisiana, Lake Charles, LA First Guaranty Bank, Hammond, LA First NBC Bank, New Orleans, LA First Pioneers Federal Credit Union, Lafayette, LA Hancock Bank, Mandeville, LA IBERIABANK, Lafayette, LA Jeff Davis Bank & Trust Co., Lake Charles, LA Lafayette Schools' Federal Credit Union, Lafayette, LA Liberty Bank, New Orleans, LA
M C Bank & Trust Company, Morgan City, LA Neighbors Federal Credit Union, Baton Rouge, LA Pelican State Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Richland Parish Schools Federal Credit Union, Rayville, LA Saint Martin Bank & Trust Co., St. Martinville, LA Section 705 Federal Credit Union, Lafayette, LA Shell New Orleans Federal Credit Union, New Orleans, LA South Louisiana Bank, Houma, LA St. Jules Credit Union, Lafayette, LA Teche Federal Bank, Baton Rouge, LA Tri Parish Bank, Eunice, LA UNO Federal Credit Union, New Orleans, LA VAC Federal Credit Union, Shreveport, LA Wymar Federal Credit Union, Geismar, LA
48
Find Your Financial Future: Louisiana Banks and Credit Unions
LOW-COST CHECKING ACCOUNTS (See full listings for more details) A checking account allows you to write checks or use debit or ATM cards instead of paying with cash. There is usually a requirement for how much money is required to open an account; a $10-$25 requirement would be a “low-cost” opening balance. There may also be a requirement for how much money must be in the account each month; some banks and credit unions have a $1 minimum, and others have no minimum monthly balance requirement. Some banks and credit unions charge a monthly fee to maintain an account; up to $3 would be considered a “low-cost” monthly fee. Checking accounts can have additional features, including check writing services and an option for free direct deposit. Financial Institution Low opening balance Low ($1) or no Low monthly ($10 - $25) minimum monthly maintenance balance fee (up to $3) Acadian Federal Credit Union
x
x
Agrico Chem Federal Credit Union
x
Allied Plastics Federal Credit Union
x
ASI Federal Credit Union
x
Bank of Ruston
x
x
x
x
Barksdale Federal Credit Union
x
x
Calcasieu Teachers & Employees Credit Union
x
x
Carville Employees Federal Credit Union
x x
Community Trust Bank
x
x
District 05 DOTD Federal Credit Union
x
x
x
Dresser Alexandria Federal Credit Union
x
x
x
Fidelity Homestead Savings Bank
x
x
x
x
x
First American Bank and Trust First Federal Bank of Louisiana
x
First Guaranty Bank
x
First NBC Bank First Pioneers Federal Credit Union
x x
x
x
Hancock Bank
x
x x
Iberville Bank
x
x
Jeff Davis Bank & Trust Co.
x
x
Lafayette Schools' Federal Credit Union
x
Liberty Bank
x
x
x
M C Bank & Trust Company
x
x
x
Maple Federal Credit Union
x
x
Neighbors Federal Credit Union
x
x
x
Pelican State Credit Union
x
x
x
Peoples State Bank
x
x
Post Office Employees Federal Credit Union
x
49
Find Your Financial Future: Louisiana Banks and Credit Unions
LOW-COST CHECKING ACCOUNTS, cont. (See full listings for more details) Financial Institution
Low opening balance ($10 - $25)
Low monthly maintenance fee (up to $3)
x
Low ($1) or no minimum monthly balance x
Richland Parish Schools Federal Credit Union Saint Martin Bank & Trust Co.
x
x
x
Section 705 Federal Credit Union
x
x
Shell New Orleans Federal Credit Union
x
x
South Louisiana Bank
x
x x
St. Jules Credit Union
x
x
Tri Parish Bank
x
x
UNO Federal Credit Union
x
x
VAC Federal Credit Union
x
x
Wymar Federal Credit Union
x
x
x x
LOW-COST SAVINGS ACCOUNTS (See full listings for more details) A savings account pays a fixed or variable interest rate on the money in your account. The higher the interest rate, the more money your account makes. There is usually a requirement for how much money is required to open an account; a $5 requirement would be a “low-cost” opening balance. There may also be a requirement for how much money must be in the account each month; some banks and credit unions have a $5 minimum, and others have no minimum monthly balance requirement. If the minimum balance requirement is met, some banks and credit unions will not charge a monthly maintenance fee for basic savings accounts. Savings accounts can have additional features, including free direct deposit. Financial Institution Low opening Low ($5) or no No monthly balance ($5) minimum monthly maintenance fee (if balance minimum balance is met) for basic savings Acadian Federal Credit Union x Allied Plastics Federal Credit Union
x
x
x
ASI Federal Credit Union
x
x
x
Bank of Ruston
x
Barksdale Federal Credit Union
x
Calcasieu Teachers & Employees Credit Union
x
x
x
Carville Employees Federal Credit Union
x
Community Trust Bank District 05 DOTD Federal Credit Union
x
Dresser Alexandria Federal Credit Union Fidelity Homestead Savings Bank
x
x
x
x
x x
x
x
50
Find Your Financial Future: Louisiana Banks and Credit Unions
LOW COST SAVINGS ACCOUNTS, cont. (See full listings for more details) Financial Institution
Low opening balance ($5)
Low ($5) or no minimum monthly balance
First American Bank and Trust
No monthly maintenance fee (if minimum balance is met) for basic savings x
First Federal Bank of Louisiana
x
First Guaranty Bank
x
x
First NBC Bank
x
x
First Pioneers Federal Credit Union
x
x
x
Hancock Bank
x
x
x
Iberville Bank
x
Immaculate Heart of Mary Credit Union
x
x
x
Jeff Davis Bank & Trust Co.
x
x
x
x
Lafayette Schools' Federal Credit Union Liberty Bank
x x
Louisiana Farm Bureau Credit Union
x
x
x
x
M C Bank & Trust Company
x
x
x
Maple Federal Credit Union
x
x
x
Neighbors Federal Credit Union
x
x
x
Pelican State Credit Union
x
x
x
Peoples State Bank
x
Post Office Employees Federal Credit Union
x
x
x
Richland Parish Schools Federal Credit Union
x
x
x
Saint Martin Bank & Trust Co.
x
x
x
Shell New Orleans Federal Credit Union
x
x
x
South Louisiana Bank
x
x
x
St. Jules Credit Union
x
x
x
Teche Federal Bank
x
UNO Federal Credit Union
x
x
x
VAC Federal Credit Union
x
x
x
x
x
Whitney National Bank Wymar Federal Credit Union
x
x
51
Find Your Financial Future: Louisiana Banks and Credit Unions
GENERAL SAME-DAY, OR NEXT-DAY FROM AN ESTABLISHED CUSTOMER, FUNDS AVAILABILITY (SUBJECT TO APPROPRIATE EXCEPTIONS, E.G. LARGE DEPOSITS) Allied Plastics Federal Credit Union, Baton Rouge, LA ASI Federal Credit Union, Harahan, LA Bank of Ruston, Ruston, LA Barksdale Federal Credit Union, Bossier City, LA Carville Employees Federal Credit Union, Carville, LA Community Trust Bank, Monroe, LA District 05 DOTD Federal Credit Union, Monroe, LA Dresser Alexandria Federal Credit Union, Tioga, LA Fidelity Homestead Savings Bank, New Orleans, LA First American Bank and Trust, Vacherie, LA First Federal Bank of Louisiana, Lake Charles, LA First Guaranty Bank, Hammond, LA First NBC Bank, New Orleans, LA First Pioneers Federal Credit Union, Lafayette, LA Hancock Bank, Mandeville, LA IBERIABANK, Lafayette, LA Iberville Bank, Plaquemine, LA Jeff Davis Bank & Trust Co., Lake Charles, LA Lafayette Schools' Federal Credit Union, Lafayette, LA Liberty Bank, New Orleans, LA
Louisiana Farm Bureau Credit Union, Baton Rouge, LA M C Bank & Trust Company, Morgan City, LA Maple Federal Credit Union, Lafayette, LA Montell Federal Credit Union, Westlake, LA Neighbors Federal Credit Union, Baton Rouge, LA Pelican State Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Post Office Employees Federal Credit Union, Shreveport, LA Saint Martin Bank & Trust Co., St. Martinville, LA Shell New Orleans Federal Credit Union, New Orleans, LA South Louisiana Bank, Houma, LA St. Jules Credit Union, Lafayette, LA Teche Federal Bank, Baton Rouge, LA Tri Parish Bank, Eunice, LA UNO Federal Credit Union, New Orleans, LA Whitney National Bank, New Orleans, LA Wymar Federal Credit Union, Geismar, LA
BANKING SERVICES AT NON-BRANCH LOCATIONS ASI Federal Credit Union, Harahan, LA Community Trust Bank, Monroe, LA District 05 DOTD Federal Credit Union, Monroe, LA Hancock Bank, Mandeville, LA IBERIABANK, Lafayette, LA Jeff Davis Bank & Trust Co., Lake Charles, LA Liberty Bank, New Orleans, LA
Maple Federal Credit Union, Lafayette, LA Neighbors Federal Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Shell New Orleans Federal Credit Union, New Orleans, LA UNO Federal Credit Union, New Orleans, LA Wymar Federal Credit Union, Geismar, LA
BANKING SERVICES DURING NON-TRADITIONAL BANKING HOURS (NOT INCLUDING ONLINE BANKING AND/OR ATMS) Barksdale Federal Credit Union, Bossier City, LA Calcasieu Teachers & Employees Credit Union, Lake Charles, LA Hancock Bank, Mandeville, LA IBERIABANK, Lafayette, LA Immaculate Heart of Mary Credit Union, Lafayette, LA
M C Bank & Trust Company, Morgan City, LA Pelican State Credit Union, Baton Rouge, LA Shell New Orleans Federal Credit Union, New Orleans, LA Teche Federal Bank, Baton Rouge, LA
52
Find Your Financial Future: Louisiana Banks and Credit Unions
FREE ELECTRONIC STATEMENTS Acadian Federal Credit Union, Lafayette, LA ASI Federal Credit Union, Harahan, LA Bank of Ruston, Ruston, LA Barksdale Federal Credit Union, Bossier City, LA Community Trust Bank, Monroe, LA Fidelity Homestead Savings Bank, New Orleans, LA First American Bank and Trust, Vacherie, LA First Federal Bank of Louisiana, Lake Charles, LA First Guaranty Bank, Hammond, LA First Pioneers Federal Credit Union, Lafayette, LA Hancock Bank, Mandeville, LA IBERIABANK, Lafayette, LA Iberville Bank, Plaquemine, LA Jeff Davis Bank & Trust Co., Lake Charles, LA Lafayette Schools' Federal Credit Union, Lafayette, LA Liberty Bank, New Orleans, LA
M C Bank & Trust Company, Morgan City, LA Maple Federal Credit Union, Lafayette, LA Neighbors Federal Credit Union, Baton Rouge, LA Pelican State Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Saint Martin Bank & Trust Co., St. Martinville, LA Section 705 Federal Credit Union, Lafayette, LA Shell New Orleans Federal Credit Union, New Orleans, LA South Louisiana Bank, Houma, LA St. Jules Credit Union, Lafayette, LA Teche Federal Bank, Baton Rouge, LA UNO Federal Credit Union, New Orleans, LA Whitney National Bank, New Orleans, LA Wymar Federal Credit Union, Geismar, LA
FREE ONLINE AND MOBILE BANKING Acadian Federal Credit Union, Lafayette, LA Allied Plastics Federal Credit Union, Baton Rouge, LA ASI Federal Credit Union, Harahan, LA Barksdale Federal Credit Union, Bossier City, LA Calcasieu Teachers & Employees Credit Union, Lake Charles, LA Carville Employees Federal Credit Union, Carville, LA Community Trust Bank, Monroe, LA District 05 DOTD Federal Credit Union, Monroe, LA Dresser Alexandria Federal Credit Union, Tioga, LA First Federal Bank of Louisiana, Lake Charles, LA First Guaranty Bank, Hammond, LA First NBC Bank, New Orleans, LA First Pioneers Federal Credit Union, Lafayette, LA Hancock Bank, Mandeville, LA IBERIABANK, Lafayette, LA Iberville Bank, Plaquemine, LA Jeff Davis Bank & Trust Co., Lake Charles, LA Lafayette Schools' Federal Credit Union, Lafayette, LA Liberty Bank, New Orleans, LA
M C Bank & Trust Company, Morgan City, LA Maple Federal Credit Union, Lafayette, LA Neighbors Federal Credit Union, Baton Rouge, LA Pelican State Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Post Office Employees Federal Credit Union, Shreveport, LA Saint Martin Bank & Trust Co., St. Martinville, LA Section 705 Federal Credit Union, Lafayette, LA Shell New Orleans Federal Credit Union, New Orleans, LA South Louisiana Bank, Houma, LA St. Jules Credit Union, Lafayette, LA Teche Federal Bank, Baton Rouge, LA Tri Parish Bank, Eunice, LA UNO Federal Credit Union, New Orleans, LA VAC Federal Credit Union, Shreveport, LA Whitney National Bank, New Orleans, LA Wymar Federal Credit Union, Geismar, LA
53
Find Your Financial Future: Louisiana Banks and Credit Unions
FREE ONLINE AND MOBILE BILL PAY Acadian Federal Credit Union, Lafayette, LA ASI Federal Credit Union, Harahan, LA Barksdale Federal Credit Union, Bossier City, LA Calcasieu Teachers & Employees Credit Union, Lake Charles, LA Community Trust Bank, Monroe, LA District 05 DOTD Federal Credit Union, Monroe, LA First Guaranty Bank, Hammond, LA First NBC Bank, New Orleans, LA First Pioneers Federal Credit Union, Lafayette, LA Hancock Bank, Mandeville, LA Iberville Bank, Plaquemine, LA
Liberty Bank, New Orleans, LA M C Bank & Trust Company, Morgan City, LA Neighbors Federal Credit Union, Baton Rouge, LA Pelican State Credit Union, Baton Rouge, LA Peoples State Bank, Natchitoches, LA Saint Martin Bank & Trust Co., St. Martinville, LA Shell New Orleans Federal Credit Union, New Orleans, LA Tri Parish Bank, Eunice, LA VAC Federal Credit Union, Shreveport, LA Wymar Federal Credit Union, Geismar, LA
LOW-FEE KIOSK BILL PAY Jeff Davis Bank & Trust Co., Lake Charles, LA
TAX RETURNS: FREE ASSISTANCE IN FILING STATE AND FEDERAL RETURNS ASI Federal Credit Union, Harahan, LA Community Trust Bank, Monroe, LA Neighbors Federal Credit Union, Baton Rouge, LA
Pelican State Credit Union, Baton Rouge, LA Post Office Employees Federal Credit Union, Shreveport, LA
INDIVIDUAL TAX IDENTIFICATION NUMBER (ITIN) APPLICATIONS PROCESSED DIRECTLY An Individual Tax Identification Number (ITIN) is a nine digit processing number used by the I.R.S. and issued to individuals who are required to have a taxpayer identification number but do not have, and are not eligible to receive, a Social Security Number. Resident and nonresident aliens may apply for an ITIN. An ITIN begins with the number 9 and has a 7 or 8 as the fourth digit. ASI Federal Credit Union, Harahan, LA
District 05 DOTD Federal Credit Union, Monroe, LA
54
Find Your Financial Future: Louisiana Banks and Credit Unions
Glossary of Financial Terms Alternative, Portfolio-held Mortgage Products: Borrowers who have less than the full documentation, have lower credit scores, or have higher loan-to-values may not qualify for normal prime loans. Instead, they can sometimes qualify for an Alternative A-paper or Alt-A mortgage with a higher interest rate (but a better rate than a subprime mortgage). Portfolio-held mortgages are held by a financial institution rather than being resold to investors. Card-based Electronic Accounts: These are typically checkless accounts, allowing withdrawals only through ATMs, point-of-sale terminals, automated clearinghouse pre-authorizations, and other automated means. There may or may not be overdraft or NSF fees associated with these accounts. Checking Account: A checking account allows you to write checks or use debit or ATM cards instead of paying with cash. There is usually a requirement for how much money is required to open an account; a $10-$25 requirement would be a “low-cost” opening balance. There may also be a requirement for how much money must be in the account each month; some banks and credit unions have a $1 minimum, and others have no minimum monthly balance requirement. Some banks and credit unions charge a monthly fee to maintain an account; up to $3 would be considered a “lowcost” monthly fee. Checking accounts can have additional features, including check writing services and an option for free direct deposit. Contract Money Transfer Services: Money transfer services such as Western Union allow an individual to quickly send money to another person in another city or country without the need to use a bank wire transfer. The recipient can receive the money simply by presenting his name and a ten digit money transfer control number that the sender transmits separately to the recipient. This is often an ideal solution for immigrants and non-U.S. residents who regularly transfer money abroad. Credit Union: Credit unions are similar to banks, but they tend to be smaller and serve people who are members of a particular group. For example, there are credit unions for people who work in government, who teach in public schools, or who live in the same city or neighborhood.
55
Find Your Financial Future: Louisiana Banks and Credit Unions
Direct Deposit: A method of transferring funds through electronic payments without the hassle of paper checks. Electronic Transfer Accounts: Electronic Transfer Accounts, also called ETAs, are a fast and confidential way for Federal payment recipients to receive money from the U.S. Department of the Treasury through programs such as Social Security, SSI, Railroad Retirement Board Payments, OPM Retirement, VA Benefits, DOL/Black Lung, and Civilian or Military salary or wages. This federally insured account allows a recipient to enjoy the safety, security and convenience of electronic payments, even if the recipient does not have a checking or savings account. The cost is no more than $3 a month, and a recipient can withdraw money out of an ETA at least four times a month, often with no requirement to maintain a minimum balance. Financial Education Programs: Information sessions that can cover a wide variety of topics including basic financial literacy, checking, budgeting, credit counseling, first time homebuyer education and counseling, foreclosure prevention counseling, money management, etc. Individual Development Savings Accounts (IDAs): An Individual Development Account (IDA) is a matched savings account that allows low income families to save and build assets. IDAs are often available only for restricted uses, such as purchasing a first home, pursuing post-secondary education or starting or expanding a small business. IDAs are typically sponsored by a local nonprofit organization. Individual Tax Identification Number (ITIN) Applications An Individual Tax Identification Number (ITIN) is a nine digit processing number used by the I.R.S. and issued to individuals who are required to have a taxpayer identification number but do not have, and are not eligible to receive, a Social Security Number. Resident and nonresident aliens may apply for an ITIN. An ITIN begins with the number 9 and has a 7 or 8 as the fourth digit. Interest-bearing Accounts: Checking or savings accounts that earn interest. Language Assistance: Many financial institutions have employees who speak a wide variety of languages and who can help customers for whom English is not a primary language.
56
Find Your Financial Future: Louisiana Banks and Credit Unions
Low-Cost Mortgages: This is a mortgage in which the borrower pays little to no points, little to no lender or third-party fees and/or little to no cash must be paid up front. The interest rate on this type of loan is higher than a loan with standard costs. This type of mortgage is often best for borrowers who plan to sell or refinance in a few years. Micro Small Business Loans: These are short-term loans to small businesses that can be used for working capital or for the purchase of inventory, supplies, furniture, fixtures, machinery or equipment. The average loan amount is $13,000, but can sometimes be as much as $35,000. These loans typically cannot be used to pay existing debts or to purchase real estate. Financial institutions typically require some type of collateral and the personal guarantees of the business owner. Loan terms are typically no more than six years, and rates are generally higher than standard business loans, typically between 8% and 13%. Micro small business loans are a good source of funds for a business that has never before borrowed from a bank. NGOs: Non-governmental Organizations (NGOs) are not part of local, state or federal government. They are usually non-profit organizations made up of voluntary associations of members working towards a common purpose. NSF Fees: Non-sufficient funds (NSF) is a term used by banks to indicate that a demand for payment (such as a check) cannot be honored because insufficient funds are available in the account on which the instrument was drawn. An NSF fee is another term for an overdraft fee. Overdraft Fees: A fee charged when a person withdraws money from a bank account which exceeds the available balance. Many banks will pay the amount (subject to certain limits) sought to be withdrawn so that, for example, a check does not bounce, but will charge the bank customer for the service of paying more than the customer’s available balance. Passbook Savings Accounts: A savings account where all record of credits and debits are recorded on a passbook usually kept by the account holder. This type of account can be appropriate for depositors who transact infrequently on their account and who do not have a need for a monthly statement.
57
Find Your Financial Future: Louisiana Banks and Credit Unions
Payday Loans: An alternative product with an Annual Percentage Rate (APR) below 36% and a repayment period that goes beyond a single pay check cycle. Features can include low or no origination fees, streamlined underwriting and/or automatic savings. Personal Loans: Many financial institutions offer personal loans of under $2,500 to individuals with special financial needs. These loans can sometimes be obtained even without a credit check or without the need to put up collateral as security. The interest rates on these loans can make them much more attractive than credit card debt. If the borrowed money is being used to purchase one specific item, retailers will sometimes work with finance companies to make it easier for customers to obtain personal loans for that specific item. Personal loans from a financial institution can be more flexible because they can be used for a variety of reasons, not just for the purchase of a specific product. Primary Identification: Documentation used to prove that a person is who he says that he is. Examples can include a driver’s license, state ID card, passport, Social Security card, etc. Savings Account: A savings account pays a fixed or variable interest rate on the money in your account. The higher the interest rate, the more money your account makes. There is usually a requirement for how much money is required to open an account; a $5 requirement would be a “lowcost” opening balance. There may also be a requirement for how much money must be in the account each month; some banks and credit unions have a $5 minimum, and others have no minimum monthly balance requirement. If the minimum balance requirement is met, some banks and credit unions will not charge a monthly maintenance fee for basic savings accounts. Savings accounts can have additional features, including free direct deposit. Second Chance Checking: Flexible checking account system which may include features such as a required Chex Systems report, debit card driven, check writing privileges, NSFs allowed, usually provided with a small service fee ($3-$5). Secondary Identification: Documentation used to prove that a person is who he says that he is when the primary identification documents are not enough. Example can include a utility bill in the person’s name, a voter registration card, or a birth certificate.
58
Find Your Financial Future: Louisiana Banks and Credit Unions
Stored Value Cards: A stored value card uses magnetic stripe technology to store information about funds that have been prepaid to the card. One example is a gift card, which can only be used to purchase goods at a particular retailer. Another example is a multipurpose or “open-loop” card that can be used at a wide variety of retail locations, such as a card with a Visa or MasterCard brand that can be used wherever those brands are accepted. Unlike a debit card, which must be tied to a particular account, a person can use a stored value card even if the person does not have an account at a bank. These cards are typically anonymous and can be used by whoever possesses the card, and thus users of stored value cards must be careful to guard the cards against theft. Wire Transfers: Wire transfer is a method of electronic funds transfer from one bank account to another bank account or through a transfer of cash at an institution set up to transfer cash via wire transfer. Many financial institutions offer wire transfers at a competitive market rate for domestic and international transfers. Costs tend to be higher for more immediate, time-critical transactions. For international transfers, risks associated with fluctuation in currencies may be reduced by faster wire transactions.
59
Sout he a s tLoui s i a naAl l i a nc ef orEc onomi cI nc l us i on( AEI ) c /o:Ke vi nWi l l i a ms FDI CCommuni t yAf f a i r s 5 5 5 5Hi l t onAve nue , Sui t e3 0 0 Ba t onRouge , Loui s i a na7 0 8 0 8 2 2 5 . 2 0 1 . 1 7 1 5e xt . 6 7 2 5
Loui s i a naAppl e s e e d Chr i s t yKa ne , Exe c ut i veDi r e c t or 9 0 9Poydr a sSt r e e t , Sui t e1 5 5 0 Ne w Or l e a ns , Loui s i a na7 0 1 1 2 ht t p: //l oui s i a na . a ppl e s e e dne t wor k. or g/
