HARAHAN, La. (8/15/14)--In its annual report released at this year's convention, the Louisiana Credit Union League noted the successes of 2013, including advocacy at the state level.
"Now in our 80th year of operation, the Louisiana Credit Union League has proven it can stand the test of time--demonstrating that the principle values on which we were founded (service and mutual cooperation) remain relevant still today," league Chairman Glenn Beard and President/CEO Anne M. Cochran wrote in the chairman/CEO report. "But though we are rooted in traditional values, we move forward with a continual focus on delivering innovative products and services designed to meet the ever-changing needs of credit unions and their members."
The report highlighted the role the league played in the latest legislative session: initiating legislation on electronic signatures and offering recommendations regarding alternatives to payday lending programs.
The league also reported net income of $550,000, an increase from $270,000 from 2012, and assets of $3.4 million in 2013, an increase from $3.17 million in assets the year prior.
Louisiana credit unions contributed $21,100 to state small businesses through its CU Lunch Local program, spearheaded by the league's Member Business Services Council.
Louisiana counted 164 federally chartered and 42 state-chartered credit unions as of December 2013. In all, Louisiana credit unions reported 1,226,555 members and 3,429 full-time employees.
The league's Young Professional Network included 340 members in 2013.
Louisiana credit unions raised $167,099 for the Credit Union Legislative Action Council in 2013.
CU Cooperative Branching, the league's shared branching initiative, included 149 locations throughout the state.