Our History

History Of Terrebonne Education Association Federal Credit Union

In 1967, ten Terrebonne Parish School System Employees (Mr. L. L. Streams, President, Mrs. Genevieve Gauno, Mr. W. J. Danks, Mrs. Helen C. Bryant, Mrs. Evelyn T. Johnson, Mrs. Martha L. Townsend, Mrs. Fledia W. Calloway, Mrs. Estelle M. Moseley, Mrs. Hazel Hawkins Navarre and Mr. Willie W. Gaither), pooled five dollars each petitioned National Credit Union Association to establish a Credit Union that would promote thrift and provide low-cost loans to Terrebonne Parish School System employees and their family members. Soon after, a charter was granted on November 28, 1967 by NCUA and T.E.A. FCU (Terrebonne Education Association Federal Credit Union) maintaining its office at Gibson, Louisiana was born. A tradition of excellence had begun.

T.E.A. FCU charter, was amended in 1987 to serve as follows:

1. Employees of the public schools who work in Terrebonne Parish, Louisiana, and who are eligible for membership in the Louisiana Education Association.
2. Board members and other employees of the schools in Terrebonne Parish, Louisiana, in which the association functions.
3. Employees of Pellegrin Bros. Auto Parts who work in Houma, Louisiana.
4. Members of the Plymouth Rock Baptist Church in Houma, Louisiana.
5. Members of New Mt. Zion Baptist Church in Houma, Louisiana.
6. Members of the Blaine C. Clay Lodge #14, F. & A.M. (PHA) in Houma, Louisiana.
7. Members and employees of New Rising Sun Baptist Church in Houma, Louisiana.
8. Employees of Bayou Oaks Hospital, who work in Houma, Louisiana.

T.E.A. FCU office moved from Gibson, to a corner of a home of its manager, Eual Phillips. At first, no one had much money to save, so only personal loans were made. The concept worked and caught on quickly. Soon the Credit Union was able to lend money for larger consumer items, such as automobiles.

From a bottom desk drawer, to a top-drawer financial institution T.E.A. FCU moved to the upstairs of People’s Drug Store Inc. on Main Street in Houma, Louisiana, to serve our members. T.E.A. has a lot to be proud of after 50 years; and a lot to look forward to, as we enter the next 50 years, to a position of strength and stability. We have not lost the spirit of innovation, that sparked our beginnings.... Nor, have we lost faith in our founding belief: that we all can benefit from “people helping people”. T.E.A. is a member-owned cooperative. We were established, and continue to operate at 7220 Main Street in Houma, Louisiana, on the principle of members helping members. T.E.A. is a not-for-profit organization. We hold the Credit Union National Association (CUNA) motto “Not for Profit, Not for Charity, But for Service” in the highest regard.

2014 proved to be a year of many significant changes. We were approved for a community charter, with NCUA and since that time we have expanded membership. This allowed anyone who lived, worked or Worship, in the credit union’s charter parishes, to be a member of the Credit Union. The Board of Directors of the Terrebonne Parish Men Day Association who work in Houma, LA was added to the charter January 27, 2015.

T.E.A. strives for complete member satisfaction, by operating with utmost integrity, respect and accountability, not only to its members, but within the credit union itself. Built on the foundation of superior member service, T.E.A. has upheld this philosophy for over 50 years.

T.E.A. FCU Brochure