2026-09-16T10:04:15-05:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 311 FINANCIAL WAY SUITE 100 WAUSAU WI 54401 990 2024-01-01 720719172 ESSENTIAL CREDIT UNION ESSE 2253538238 2370 TOWNE CENTER BOULEVARD BATON ROUGE LA 70806 EWA LIPINSKA CFO 2253538238 2026-09-16 1 1 ANGELICA KRAUTKRAMER P02005570 7156752351 2026-09-16 2024 X RICHARD WILLIAMS 2370 TOWNE CENTER BOULEVARD BATON ROUGE LA 70806 27753115 0 X HTTPS://ESSENTIALCU.ORG X CREDIT UNION 1972 LA DEDICATED TO BUILDING A CREDIT UNION THAT PROVIDES OUTSTANDING FINANCIAL SERVICES (LOANS AND DEPOSITS) AT THE LOWEST COST POSSIBLE. 9 9 139 4 45865 0 0 0 24571772 26492149 887494 854579 -406387 224679 25052879 27571407 0 0 4949789 6792639 8011652 8275136 0 0 0 11332171 15966666 24293612 31034441 759267 -3463034 386709201 390096818 355095377 361902539 31613824 28194279 TO PROVIDE A COMMUNITY WITH FINANCIAL SOLUTIONS AND OPTIMAL SERVICE THAT SURPASSES EXPECTATIONS WHILE GIVING BACK TO THE COMMUNITIES IN WHICH WE SERVE. 0 0 WE ARE A MEMBER OWNED COOPERATIVE CREDIT UNION. AT DECEMBER 31, 2024, WE HAD 43,011 MEMBERS. WE HAD $315.3 MILLION IN OUTSTANDING LOANS AND $344.8 MILLION IN TOTAL DEPOSITS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 8193 0 139 1 1 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 LA X RICHARD WILLIAMS 2253795171 2370 TOWNE CENTER BLVD BATON ROUGE LA 70806 JOEY JUSTICE BOARD CHAIR 2.00 X X 6000 0 0 EDMOND JORDAN BOARD TREASURER 2.00 X X 5823 0 0 STEPHAN PIERRE BOARD VICE-CHAIR 2.00 X X 4251 0 0 LISA PERRY BOARD OF DIRECTOR 2.00 X 546 0 0 KENITH WOODALL BOARD OF DIRECTOR 2.00 X 4639 0 0 PERRY ROBEY BOARD OF DIRECTOR 2.00 X 4310 0 0 LOUISE CROCHET BOARD OF DIRECTOR 2.00 X 5256 0 0 BOYD J COURVILLE SUPERVISORY VICE-CHAIR 2.00 X 2016 0 0 STEPHAN PIERRE SUPERVISORY SECRETARY 2.00 X X 0 0 0 SUE HUNT BOARD OF DIRECTOR 2.00 X 4266 0 0 ROBBIE BAGALEY BOARD SECRETARY 2.00 X 0 0 0 RODNEY COMBS SUPERVISORY COMMITTEE 2.00 X 0 0 0 SHERMAN DUPRE SUPERVISORY COMMITTEE 2.00 X 6000 0 0 VELVET CABALLERO SUPERVISORY COMMITTEE 2.00 X 0 0 0 RICHARD WILLIAMS CEO 40.00 X 408402 0 26258 WESTON MOREAU III COO 40.00 X 195884 0 22409 KRUGERRAND HOLLINS CTO 40.00 X 167948 0 7907 ALLISON ROGERS BROWN CMO 40.00 X 160104 0 27003 KARESA HALL CAO 40.00 X 164178 0 20639 STEVE LATTUCA CFO 40.00 X 162964 0 6810 DAVID BEAM VP OF LENDING 40.00 X 108188 0 25264 LADONNA EVANS-SUTTON VP OF COMMERCIAL SERVICES 40.00 X 117300 0 13031 1528075 0 149321 8 0 1 0 NCR 864 SPRING ST ATLANTA GA 30308 CONSULTING AND TECHNOLOGY 808645 FISERV 255 FISERV DR BROOKFIELD WI 53045 TECHNOLOGY 547050 MERIDIANLINK PO BOX 846822 LOS ANGELES CA 90084 CONSULTING 314058 DIGITAL FIRST HOLDINGS LLC PO BOX 660367 DALLAS TX 75266 TECHNOLOGY 284336 GRAND CONSTRUCTION LLC 4327 JEFFREY DR BATON ROUGE LA 70816 RENOVATIONS 280827 15 LOAN INTEREST 522100 18443162 18443162 FEE INCOME 522100 4312917 4267052 45865 MISCELLANEOUS 522100 3736070 3736070 26492149 854579 854579 133901 181708 -47807 -47807 -47807 OTHER NON-INTEREST INCOME 522100 272486 272486 272486 27571407 26718770 45865 806772 6792639 871915 5887113 175247 824406 516455 207838 180000 1761575 607546 1355691 3966374 105094 540905 523735 PROVISION FOR CREDIT LO 4940552 LOAN SERVICING 917721 MISCELLANEOUS 685468 OPERATING FEES 174167 31034441 7590889 17815157 12486568 10055001 244935 284008 4113003 4220237 315668607 310243059 1689747 1473034 37064451 12264850 23926611 24799601 10632095 10099076 10356746 11107645 386709201 390096818 4809840 643999 177621 271191 11500000 16500000 338607916 344487349 355095377 361902539 X 0 0 0 0 31613824 28194279 31613824 28194279 386709201 390096818 -3463034 43489 0 X X 0 1 X 1 0 4799232 4799232 21819734 5754921 16064813 913436 913436 0 7980156 5596493 2383663 1551893 1551893 24799601 MEMBER DEPOSITS 275350644 NONMEMBER DEPOSITS 69136705 344487349 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE (IRC) 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNIONS CONVERSION TO A STATE-CHARTERED CREDIT UNION ON DECEMBER 1, 2022, RESULTED IN IT BEING SUBJECT TO UNRELATED BUSINESS INCOME TAX. ALSO, AS A RESULT OF BECOMING A STATE-CHARTERED CREDIT UNION, THE CREDIT UNION BEGAN PAYING STATE SALES AND USE TAXES. THE CREDIT UNION HAS FILED TAX RETURNS FOR ACTIVITIES THEY HAVE DEEMED TAXABLE. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2024. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNIONS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNIONS FINANCIAL POSITION OR RESULTS OF OPERATIONS. X X 0 0 0 RICHARD WILLIAMS CEO 341972 0 66430 0 0 0 11143 0 15115 0 434660 0 0 0 WESTON MOREAU III COO 186447 0 9437 0 0 0 8153 0 14256 0 218293 0 0 0 ALLISON ROGERS BROWN CMO 152393 0 7711 0 0 0 6430 0 20573 0 187107 0 0 0 KARESA HALL CAO 156828 0 7350 0 0 0 6420 0 14219 0 184817 0 0 0 KRUGERRAND HOLLINS CTO 160312 0 7636 0 0 0 6827 0 1080 0 175855 0 0 0 STEVE LATTUCA CFO 155364 0 7600 0 0 0 6641 0 169 0 169774 0 0 0 PART I, LINE 3 THE CAO OBTAINS AN EXECUTIVE COMPENSATION SURVEY AND THE BOARD REVIEWS ON THE CEO'S PERFORMANCE AND DETERMINES THE APPROPRIATENESS OF THE COMPENSATION LEVEL RICHARD WILLIAMS CEO SPLIT DOLLAR LOAN X 3500000 4220237 0 1 1 4220237 FORM 990, PART VI, SECTION A, LINE 6 ALL MEMBERS OF THE CREDIT UNION HAVE AN EQUAL SHARE OF OWNERSHIP RIGHTS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP VOTES ON BOARD MEMBERS ANNUALLY. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS VOTE ON LARGER DECISIONS AFFECTING THE CREDIT UNIONS SUCH AS MERGERS AND CHANGE IN CHARTER. FORM 990, PART VI, SECTION B, LINE 11B CEO AND CFO REVIEW THE 990 AND INFORM BOARD OF DIRECTORS THAT IT HAS BEEN COMPLETED AND MAKE IT AVAILABLE FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO REPORT ANNUALLY ALL RELATIONSHIPS WITH THE CREDIT UNION. IF THERE IS A CONFLICT OF INTEREST, THE FULL BOARD OF DIRECTORS WILL ADDRESS THE SITUATION FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS PREPARES AN ANNUAL REVIEW OF THE PRESIDENT'S PERFORMANCE. THE PRESIDENT REVIEWS THE PERFORMANCE OF OTHER KEY EMPLOYEES. VP OF HR OBTAINS A SALARY SURVEY TO ENSURE THAT KEY EMPLOYEE SALARIES ARE REASONABLE. PERFORMANCE REVIEWS ARE WRITTEN AND KEPT IN PERSONNEL FILES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST, THE EXECUTIVE ASSISTANT WILL MAKE THE DOCUMENTS AVAILABLE VIA E-MAIL. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ESSENTIAL TAG AND TITLE LLC PO BOX 66598 BATON ROUGE LA 70896 932163831 TITLE SERVICES LA -39832 360764 ESSENTIAL CREDIT UNION