We're more than a credit union—we're your financial family for life!
For over 60 years, Pelican State Credit Union has been providing financial services to individuals and their families throughout the state of Louisiana. Since opening our doors in 1956, we seek to embody our mission statement each day by providing innovative products and services with a continued, dedicated focus on member loyalty.
Pelican was originally chartered as the Department of Hospitals Credit Union, located in downtown Baton Rouge. Our main membership served included Louisiana charity hospitals, mental health centers and state office personnel. In 1988, we amended our name to Pelican State Credit Union to better represent our expanding field of membership.
We've since grown into the largest state-chartered credit union in Louisiana now serving over 50,000 members nationwide.
Despite an increase in size and service area, we still base our success on personal attention. Rest assured, our members' best interests are always at heart. We remain entirely committed to building stronger Louisiana communities, member by member — so you can attain the knowledge and resources you need to enhance your financial future.
To improve the lives of our members through safe, competitive products and educational services.
Our Member Benefits
Enough about us—what about you? The history of Pelican State Credit Union has always centered around serving our members. Click below to learn about all the ways Pelican membership can help you reach your financial goals.
SUPERVISORY & DIRECTOR MEETING FEES
Pelican State Credit Union will implement Supervisory & Director Meeting Fees beginning in January of 2023 to provide reasonable compensation as allowed by Louisiana law and the credit union’s Bylaws.
As credit unions grow and become more sophisticated, their Supervisory Committee Members and Directors are faced with more complicated decisions. They must have an ever-growing understanding of the credit union business sector and the entire arena of financial service activities. Additionally, the time demand of meetings, meeting preparation, regulatory training, and continuing education is extensive and warrants compensation. Pelican must compete with other types of financial services providers for talent at all levels, including its Supervisory Committee and Board of Directors.
Pelican has consistently achieved strong financial performance and is a leader in the industry. To continue on this path of rapid growth and success, we must maintain a Supervisory Committee and Board that reflects the professional expertise and member representation required.
To determine the compensation amounts, we conducted due diligence research on compensation structures and levels of credit union peers of proportional size, complexity, mission, and financial performance. The compensation is set at a rate to reflect the level of risk and responsibility taken, the professional expertise required, and is within the limits prescribed by Louisiana law.
Unlike Shareholders of a bank who make a substantial income based on the profits of their strategic decisions, Credit Union Supervisory Committee Members & Directors receive a reasonable, fixed stipend. If the Credit Union falls below the required regulatory capital minimum, this compensation will be eliminated.
The compensation planned for 2023 is based on the structure below and will not exceed $95,000.
- $750 per Elected Director attending a Board in person meeting (permitting 2 of those per calendar year to be zoom or virtual).
- $150 additional compensation for the Board Chair attending Board Meetings
- $100 additional compensation for the Board Treasurer attending Board Meetings
- $500 to the Chair of the Supervisory Committee for attendance in person at 4 Committee meetings, 4 Board Meetings, and 1 Annual Business Meeting (permitting 1 per calendar year to be zoom or virtual)
- $500 per Supervisory Committee Member attending in person when attending 4 committee meetings, and 4 Board Meetings (permitting 1 per calendar year to be zoom or virtual)
- No additional compensation for Committee Chairs or for Associate Directors.