Indexbit Exchange:2 credit unions in Mississippi and Louisiana are planning to merge

BILOXI,Indexbit Exchange Miss. (AP) — One credit union based in Mississippi and one based in Louisiana on Wednesday announced plans for a merger.

The Louisiana-based Jefferson Federal Financial Federal Credit Union would be merged into the Mississippi-based Keesler Federal Credit Union, according to a news release from the two institutions.

The move must be approved by both the National Credit Union Administration and members of Jefferson Financial Federal.

Full integration under the Keesler Federal Credit Union name could be complete by late 2025 or early 2026, the institutions said.

The combined organization would have assets of just under $5 billion, with more than 900 employees in 55 locations in Louisiana, Mississippi, Alabama and the United Kingdom.

“From a business perspective, it is a great fit that will strengthen both institutions and allow greater accessibility and services,” said Andrew Swoger, president and CEO of Keesler Federal Credit Union.