705 FEDERAL CREDIT UNION

LAFAYETTE, LA | Lafayette Parish
Mission-Driven Bank or Credit Union
705 FEDERAL CREDIT UNION
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As of , this nonprofit no longer meets findCRA's qualification requirements and will no longer appear in CQ search results.

Reason for disqualification:

Overview

705 FEDERAL CREDIT UNION
23-7014412
1455 W WILLOW ST
LAFAYETTE, LA 70506
Lafayette Parish

Mission Statement info

This nonprofit has not reported a mission statement.

CRA Category info
  • Mission-Driven Bank or Credit Union
Nonprofit location info
  • LMI Census Tract
  • Majority Minority Census Tract
  • Opportunity Zone
Awards & Certifications info
  • CDFI Organization
  • CDFI Award Recipient
Founded info
Not reported
Total Employees info
Not reported
Total Volunteers info
Not reported
Nonprofit Classification (NTEE Code) info
-

Not reported

IRS Activity Codes info
-
Not reported
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code) info
-
Not reported

CRA Alignment

CRA Category info
Mission-Driven Bank or Credit Union
Bank or credit union that has been certified by the U.S. Treasury as a Community Development Financial Institution.
What does it mean for a nonprofit to be CRA aligned?
Each nonprofit on Community Qualifier has been reviewed by findCRA utilizing a dual evaluation process. Nonprofits are first evaluated by our proprietary algorithm, CRANIA, and then further validated by our CRA experts. When nonprofit passes both parts of this review, we create a nonprofit profile for them on Community Qualifier. From there, a nonprofit can claim their profile and add additional information including their programs & services, counties served, targeted clients and income groups and more.
Awards & Certifications info
Community Development Financial Institution info
Date Certified info
Not reported
Native American CDFI info
N
Financial Institution Type info
Credit Union
Community Development Financial Institution Award Recipient info
New Market Tax Credit Recipient info
YearAmountProgramAwardee Name
2021 $125,000 CDFI Technical Assistance open_in_new Section 705 Federal Credit Union
2022 $125,000 CDFI Technical Assistance open_in_new Section 705 Federal Credit Union

Includes CDFI Fund awards granted between January 2013 and December 2023

HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
-
Revenue
-
Assets
-

Not reported by IRS.


The income, revenue, and assets information was not included on this nonprofit's most recent tax filing or the nonprofit has not yet filed its first tax return.

IRS Business Master File Details info

As of August 2024
Exempt Ruling Date info
-0001-12
Deductibility Status info
Not reported
Last Tax Filing info
2013
Organization Type info
Not reported
Organization Tax Filing Status info
990 - Government 501(c)(1)
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Not reported
Basis for Foundation/Public Charity Status info
All organizations except 501(c)(3)

IRS Publication 78 Details info

As of August 2024
Verified in Publication 78 info
No
Deductibility Limitation info
Not reported
Organization Description info
Not reported

IRS Form 990 Returns info

Through August 2023
No IRS 990 returns are available for this nonprofit.

Nonprofit Location

Physical Address info
1455 W WILLOW ST
LAFAYETTE, LA 70506
Lafayette Parish
Area Type info
Metropolitan Statistical Area
FIPS Geocoded Address info
29180
MSA/MD info
22
State info
055
County info
0007.00
Tract info
Low
Income Level info
Core-Based Statistical Area info
29180 - Lafayette, LA
Combined Statistical Area info
318 - Lafayette-New Iberia-Opelousas, LA
Metropolitan Division info
Not located in an MD.
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 86.51%
FFIEC Distressed Census Tract info
FFIEC Underserved Census Tract info

Market Data

Census Tract County
0007.00 Lafayette Parish
Population
Total Population 2,942 243,175
Total Households 945 97,694
Income
Median Income* $33,867 $66,617
Median Family Income (2024 FFIEC est.) $82,000 $82,000
Tract Income Percentage 48.87% N/A
Below Poverty Level 22.2% 16.8%
Unemployment Level 7.0% 5.2%
Housing
Total Housing Units 1,128 108,681
Total Owner-Occupied Units 35.3% 66.3%
Total Renter-Occupied Units 48.5% 33.7%
Total Vacant Units 16.2% 8.3%
* Census Tract Median Income based on 2020 Tract Median Family Income as reported in the 2024 FFIEC Census Flat File. County Income based on Median Household Income as reported in the 2022 American Community Survey.
View more than 200 performance context data points for this county now.

Management

Not reported
Total Voting Members
in Governing Body info
Not reported
Independent Voting Members
in Governing Body info
Tax Filing Signatory info
Not reported by nonprofit.
Principal Officer info
Not reported by nonprofit.
findCRA Profile Owner
Nonprofit profile has not yet been claimed
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Whistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed
Organization Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Information in this section is not available as the nonprofit did not e-file their tax return. As such, the hyphens (“-“) in this section indicate that the information was not available.

PDFs of this nonprofit's tax filings are included in the IRS Summary section above, when available from the IRS.

This Nonprofit Profile was automatically created by findCRA based on data available from publicly available government and industry sources and our own research. This Nonprofit Profile is not currently maintained by, endorsed by, or affiliated with this nonprofit. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit help.findcra.com.