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News Now

CU System
Lake Charles Telco merges with Pelican State
HARAHAN, La. (6/4/10)--Lake Charles (La.) TELCO CU will merge with Baton Rouge, La.-based Pelican State CU on July 1. The merger was approved last week in a unanimous vote of the membership and unified support from both credit unions' boards, according to the Louisiana Credit Union League (E-Weekly June 2). Pelican will retain all Lake Charles Telco employees and members. "We will work together to join the two credit unions as seamlessly as possible," said Jeffry K. Conrad, Pelican CEO. He added that service to Telco members will be uninterrupted. Telco's members will have access to products and services previously not available such as debit cards, online banking, cash services and access to more than 3,500 Credit Union Service Center locations nationwide. Conrad said more than 400 Pelican members reside in Lake Charles, where one of its select employer groups is W.O. Moss Regional Medical Center. Hospital employees are eligible for membership with Pelican and will benefit from the new local branch. Telco has roughly $1.9 million in assets and more than 600 members. Pelican has more than $172 million. On Jan. 1, Pelican merged with Pinekraft FCU based in Pineville.


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