Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Pelican State CU transfers branch to Eagle FCU
CHALMETTE, La. (4/5/12)--A branch acquired to help credit union members in the wake of Hurricane Katrina is being transferred from $191 million asset Pelican State CU to $92 million asset Eagle FCU as of April 17. Both credit unions are based in Baton Rouge, La.

Pelican State CU acquired the branch in Chalmette, La., through a merger with Chalmette Refinery CU, which was in danger of closing after Hurricane Katrina.

In a Pelican State CU release, CEO Jeffrey K. Conrad noted that while Chalmette Refinery CU's members needed a helping hand, Pelican State's strategic plan did not call for growth in the greater New Orleans area.

The release noted the branch is being transferred to Eagle FCU because Chalmette members can benefit from a credit union with a larger presence in the community and plans for growth in that area.

Conrad noted the branch and accounts will not be sold for a profit, but transferred in an "even exchange." Eagle FCU intends to retain all Pelican employees and members.

Eagle FCU CEO Ginger Manint said the transfer demonstrates both the cooperative spirit of credit unions and decision-making that is in the best interest of members.


RSS print
News Now LiveWire
.@BelvoirFederal revamped the checking acct. it offers to active duty military members and achieved 23% growth on the product in 1 mo.
12 hours ago
.@FinancialCmte markup of Reg D Study Act set for Tuesday. CUNA will submit support letter. http://t.co/cDWkZ0Q0x1
16 hours ago
The 54th Western CUNA Management School graduated 89 students on July 25.
16 hours ago
.@CUNA Bank Secrecy Act training to reach 38 Mich. state examiners #NewsNow http://t.co/7HDPgwih8G
18 hours ago
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
7 25 ago