705 Federal Credit Union is a not-for-profit, member-owned credit union serving the Acadiana area since 1968, offering savings accounts, loans, credit cards, and financial education to eligible members.
Data compiled from public sources · Rating from CreditDoc methodology
705 Federal Credit Union was founded in 1968 in Crowley, Louisiana, by postal employees seeking to address gaps in their financial services. Originally chartered to serve postal workers in the 705 zip code area, the credit union has since expanded to include federal government employees and employees of various businesses throughout the Acadiana region. As a not-for-profit financial institution, 705 FCU returns profits to members rather than shareholders.
705 FCU offers a comprehensive suite of financial products including share savings accounts, share certificates (with terms ranging from 6 to 18 months), traditional IRAs, checking accounts, auto loans with vehicle search tools, personal loans, credit cards, and loan insurance options. Members also have access to e-services, mobile banking, online account opening, and skip-a-payment programs. The credit union provides financial education resources including Zogo financial literacy tools, financial counseling, a savings calculator, and a personal finance planning tool called My $ Planner.
What distinguishes 705 FCU is its strong community focus and member ownership model. The institution emphasizes lower interest rates on loans and fewer fees compared to traditional banks. Each member maintains ownership through a required $25 minimum share savings account balance. The credit union explicitly markets itself as a CDFI (Community Development Financial Institution) and highlights member stories and community advocacy as core to its identity.
705 FCU is federally insured by the NCUA and appears to be a legitimate, established credit union with physical branch locations in the Acadiana area. However, membership eligibility is restricted to employees of partner businesses and their family members—it is not open to the general public. The credit union's scope appears regional rather than national, which may limit accessibility for those outside Louisiana.
Yes. 705 is a registered company, headquartered in Lafayette, LA, founded in 1968.
Membership approval and account opening typically takes 1-3 business days. Loan decisions are usually faster than traditional banks.
CreditDoc Diagnosis
705 FCU is best for employees of partner businesses in the Acadiana area seeking member-owned credit union services with strong financial education support and community focus. The primary caveat is that membership is restricted to specific employee groups and their families, making it inaccessible to the general public, and its service area is limited to Louisiana.
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