BILOXI, Miss. – A merger between a Mississippi-based credit union and a credit union from Louisiana was announced on Wednesday.
The Louisiana credit union, known as Jefferson Financial Federal Credit Union, will be merging with Keesler Federal Credit Union, which operates out of Mississippi, as stated in a recent press release from both organizations.
This merger is contingent upon approval from the National Credit Union Administration, as well as the consent of Jefferson Financial Federal’s members.
The anticipated timeline for a full integration under the Keesler Federal Credit Union banner is expected to be finalized by late 2025 or early 2026, according to representatives from the institutions.
Upon completion of the merger, the new entity will boast assets totaling nearly $5 billion and employ over 900 staff members across 55 locations spanning Louisiana, Mississippi, Alabama, and even the United Kingdom.
Andrew Swoger, the president and CEO of Keesler Federal Credit Union, expressed optimism about the merger, stating, “From a business perspective, it is a great fit that will strengthen both institutions and provide enhanced accessibility and services.”