OnPath Federal Credit Union and Louisiana Federal Credit Union Jointly Announce Membership Approval to Merge
It is with great pleasure that Louisiana Federal Credit Union announces approval by its members to merge with OnPath Federal Credit Union (OnPath). This collaborative partnership will allow the organization to continue to serve members and remain steadfast in their dedication to financial well-being and to the communities the combined organization serves. While initially Louisiana FCU will retain its name and operate as a division of OnPath credit union, the combined organization will ultimately adopt the OnPath name, and a new brand will be launched that will honor and capture the spirit of both credit unions’ rich histories. Overall, the combined assets will exceed more than $1 billion dollars, serving more than 89,000 members with fifteen (15) branches throughout the greater New Orleans area.
This is the largest credit union merger that has occurred in the state of Louisiana. The partnership is rooted in shared values and a strong commitment to their members. Both credit unions hold a deep dedication to members, employees, and communities, as well as a common vision for the future of the combined organization. In a financial services sector that is constantly shifting, this merger represents a collaborative pooling of resources and talent. Becoming a larger credit union will provide opportunities to position the new credit union for continued growth. In turn, this will result in being able to provide even more benefits to members in the form of enhanced product and service access and integrating new and robust technologies and services.
Jared Freeman, President/CEO of the combined organization stated, “I want to officially welcome Louisiana FCU members and employees to OnPath. Through this merger, Louisiana FCU members will gain access to additional branches conveniently located in the New Orleans area. Additionally, this merger will help our already strong, healthy credit unions to be in an even better position to serve our members and future members now and into the future.”
Rhonda Hotard, President/CEO of Louisiana Federal Credit Union, “First and foremost I want to thank our board of directors, employees, and our members for their commitment to Louisiana FCU. We are very excited that our members voted in favor of merging with OnPath. We look forward to continuing to grow together for the benefit of our members and the communities we serve.”
As the legal and operational processes move forward, both credit unions will provide information to their respective memberships via their websites (www.beonpath.org and www.LouisianaFCU.org), and other applicable communication channels.