We are committed to improving the lives of our members through comprehensive financial solutions delivered with world-class service.
Doing what is in the best interest of our members and our community.
In the midst of the Great Depression in the 1930s, people sought relief from economic devastation. Credit unions began to develop across the U.S. with a shared motto of “People Helping People.” In response to this effort, Congress passed the Federal Credit Union Act in 1934. After, EFCU Financial was established in Baton Rouge, Louisiana as only the 13th chartered credit union in the entire country. One hundred seventy eight original members invested a total of $941.70 to get the credit union off the ground. Our original name, Stanocola Processing Employee’s Federal Credit Union, reflected our charter’s sponsor and our mission - to manage the banking needs of our community’s new and growing middle class by providing financial services to the employees of Stanocola Processing Plant (now Exxon).
Over the decades, as ownership and affiliations of Stanocola Processing Plant changed, so did our name. In fact, it has changed six times:
1949 – Stanocola Processing and Mechanical Employee’s Federal Credit Union
1951 – Esso Process and Mechanical Federal Credit Union
1972 – Exxon Process and Mechanical Federal Credit Union
1984 – Exxon Federal Credit Union
1994 - E Federal Credit Union
2015 - EFCU Financial
Throughout our history, we have maintained positions of financial stability and dependability for our members. No matter the economic climate locally or nationally, we have continually expanded services to best meet the needs of our members and maintain a modernized approach to doing business.
Success over the years has led to growth through acquisitions and branch development. In early 2003, we acquired EXCO Federal Credit Union marking the largest credit union merger in Louisiana history. That merger grew our assets to more than $140 million and 20,000 members. Mergers with Vulcan Employees Federal Credit Union and Burnside Federal Credit Union in 2005 broadened our presence and allowed us to better serve members in Ascension Parish.
In 2007, we became a community-chartered credit union and thus opened our membership eligibility to everyone who lives, works or worships in the nine-parish area surrounding East Baton Rouge. The change sparked our largest growth spurt to date. An additional location opened in Baton Rouge that same year. In 2008, new branch facilities were built in Baton Rouge and Zachary, and two others were built in 2009; one in Ascension Parish (Prairieville) and one in Livingston Parish (Denham Springs).
Today, we serve over 40,000 members and manage more than $400 million in assets. Through all of the growth, expansion and name changes the core of who we are has remained constant. We are and always will be a local community business committed to improving the lives of our members through comprehensive financial solutions delivered with world-class service.
Jim Phillips, Chairman of the Board
Rick Bergeron, First Vice Chair
Kimberly Bardell, Second Vice Chair
Keith Carpenter, Secretary/Treasurer
Neal Chollette, Board of Directors
Joyce Dunn, Board of Directors
Neal Elkins, Board of Directors
Celeste Francois, Board of Directors
Jack Haynes, Board of Directors
Tyler Grodi, CEO