These two Gulf South credit unions are planning to merge

A Mississippi-based credit union and another headquartered in Louisiana announced plans Wednesday for a merger.

Louisiana’s Jefferson Financial Federal Credit Union would be merged into 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.

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

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 U.K.

“From a business perspective, it is a great fit that will strengthen both institutions and allow greater accessibility and services,” says Keesler President and CEO Andrew Swoger.