LA PLACE, La.–Members have approved a merger of two credit unions in Louisiana that will create a $1-billion-plus institution.
The $409.2-million Louisiana FCU and the $632.1-million OnPath FCU said with the approval LFCU is now operating as a “division of OnPath Federal Credit Union.”
OnPath is headquartered in Metairie, La., approximately 20 miles from Louisiana FCU’s headquarters.
In a statement, the credit unions said that over the next year they will work toward integrating the core systems and that by the beginning of June 2025, all of the Louisiana FCU locations will be rebranded as OnPath Federal Credit Union.
Largest in State History
The merger is the largest in history among Louisiana Credit Unions.
As of March 31, Louisiana FCU, which has 35,886 members, reported a loss of $59,958 and 13.31% net worth. OnPath FCU, which has 54,224 members, reported net income of $693,165, with 9.2% net worth.
OnPath was chartered in 1961 as the Avondale Shipyards Inc. FCU. Louisiana FCU began operating in 1935 as the Norco Refinery Employees FCU.
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