For People Instead of Profit
Whether you are considering joining the Louisiana USA family or have been a member for 30 years, you still may wonder, “What separates a credit union from a bank?” The short answer is – a lot. We are a nonprofit corporation that is equally owned by all of our members. Instead of focusing on our stock value and pleasing executive board members, we are entirely devoted to helping our members. Our team provides the same services as a bank, but our outlook and attitude could not be more different.
Credit Unions vs. Banks
- Goal: Help members
- Ownership:Equally owned by all members
- Decisions: Democratically controlled by members
- Profits: Returned to members in the form of lower fees and better rates
- Insurance: Federally insured by NCUA
- Goal: Profit
- Ownership: Stockholders & Executives
- Decisions: Made by paid officials
- Profits: Returned to stockholders
- Insurance: Federally insured by FDIC
As a non-profit corporation that is well-capitalized, Louisiana USA strives to absorb product and service costs for its members and give the most competitive rates for loans and deposits.
We are a family-focused entity. Our focus has been and always will be on helping our members. This has been our mission since 1939 and will continue to guide every decision we make.