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LCUL highlights the good works of credit unions by placing them in the spotlight as consumer-friendly financial institutions working to assist their members and the communities in which they serve. In turn, we want to be a resource to credit unions in need of media assistance such as talking points on specific subject matter or tips for speaking with the media. If you have questions, need pointers on how to deal with a media request, or would like for us to handle the media request, contact any of the LCUL communications staff.
Do you have any events, community involvement efforts, or other newsworthy items you would like to get press coverage for? The League is here to help you get positive unpaid media coverage for your credit union. We can work with you on creating press releases and contacting the right media outlets for your news. 
Need assistance in crafting your message? Let LCUL assist you in drafting press releases and/or articles for such things like groundbreakings, credit union/community events, new employees, awards, and more. 

For immediate media needs, to schedule an interview, or find a credit union spokesperson who can speak on a specific topic, please contact Lacey H. Weaver, Senior Vice President of Member Engagement

Basic Information on Credit Unions

Not sure what makes credit unions unique from other financial institutions?  Continue reading to better understand the differences between credit unions and our for-profit counterparts.
There are 179 credit unions in the state serving more than 1.2 million members, with combined assets of $11.6 billion. In 2017, Louisiana credit unions saved members $107 million dollars.
OVERVIEW
  • Credit unions are not-for-profit financial cooperatives, serving members who share something in common: employment, association membership or residence in a particular geographic area.
  • As not-for-profit cooperatives, credit unions share earnings with their members through better savings and loan rates, as well as generally lower fees than banks. Surveys consistently rank credit unions first among financial institutions in consumer satisfaction.
PHILOSOPHY AND STRUCTURE
  • Credit unions are member-owned and democratically controlled institutions that take pride in their "people helping people" philosophy.
  • Credit union boards of directors are elected by members. Each member has an equal vote, regardless of how much money he or she has with the credit union. Only members may serve as directors, and directors usually serve for free. Volunteers are an important credit union resource.
  • Credit unions have no outside stockholders, so after reserves are set aside, earnings are returned to members through dividends on savings, lower loan rates and fees, or additional services.
DIFFERENCE FROM BANKS
  • Credit unions operate differently from banks. Members are not just customers; they are owners with a say in the future of their credit union. In addition, credit unions' not-for-profit status means all earnings are returned to benefit all members.
  • Banks exist to make a profit for shareholders, so the focus is on earning money from customers, not returning earnings to benefit customers.
  • Credit unions do pay taxes - we pay payroll taxes, real estate, school and property taxes. Credit unions have been exempted from paying corporate income taxes. 
SAFETY AND SOUNDNESS
  • Due to prudent lending and management practices, most credit unions have not felt the adverse effects of recent economic downturns as banks have.
REGULATION AND SUPERVISION
  • Federally chartered credit unions are regulated by the National Credit Union Administration (NCUA), an independent agency. Louisiana's state-chartered credit unions are regulated by the Office of Financial Institutions (LOFI).