Keesler Federal Credit Union’s merger with Jefferson Financial Federal Credit Union – the largest credit union merger in Louisiana and Mississippi history – became official on July 1 and greatly expanded the credit union’s presence in Jefferson Parish. With the addition of the 14 branches from Jefferson Financial, Keesler Federal will now have 55 branch locations stretching from New Orleans to Mobile.
The Biloxi-based powerhouse with more than $5 billion in assets has developed a national reputation for stellar financial performance. In 2024, Keesler Federal returned more than $42 million to members’ equity and had a Return of Assets (ROA) of 1.0 percent – almost double the .55 percent national average posted by credit unions of its size. Newsweek magazine named Keesler Federal one of the “Best Credit Unions in America” for the second year in a row.
“With this merger, we will be actively involved in efforts to build a stronger community in Jefferson Parish,” said Andy Swoger, President and CEO of Keesler Federal.
When Swoger arrived at Keesler Federal, it had less than $2 billion in assets. At a time when many credit unions experienced downturns and stunted growth, Keesler Federal pursued a path of strategic expansion, moving into Mobile and New Orleans. Last year, Swoger negotiated an innovative partnership that made Keesler Federal the Official Credit Union of the New Orleans Saints and the New Orleans Pelicans.
Since 2016, Keesler Federal’s membership has grown by 50 percent to more than 380,000 members across Louisiana, Mississippi, Alabama, and the UK. The merger will enable the credit union to offer Jefferson Parish members higher returns, lower loan rates, and new products such as a special loan rate discount for military families, first responders, and educators.
4625 Airline Drive // Metairie // kfcu.org
3900 Veterans Memorial Boulevard, Suite 101 // Metairie // jeffersonfinancial.org
