METAIRIE, La. — OnPath Federal Credit Union and Louisiana Federal Credit Union have announced plans for a merger. If approved, the combined credit union will do business as OnPath Credit Union and have combined assets topping $1 billion. It would serve more than 89,000 members with 15 branches throughout Louisiana.
OnPath and Louisiana Federal are member-owned cooperatives, and under the guidelines of the National Credit Union Association, the merger requires Louisiana Federal member approval. Leaders of the two credit unions hope the plan is finalized by mid-2024 and believe it will provide opportunities for growth and boost product and service offerings for members.
“During these times of uncertainty, as more individuals and communities grapple with financial challenges, the merger with Louisiana Federal Credit Union becomes an opportunity to combine our capabilities,” said Jared Freeman, OnPath president and CEO, in a press release. “By uniting our strengths and harnessing increased economies of scale, we aim to extend our service to a larger membership base and elevate our impact on the communities we serve.”
“We are excited about the opportunity to merge with OnPath,” said Rhonda Hotard, president and CEO of Louisiana Federal Credit Union. “This partnership will expand services for our members, including access to additional branches, a larger ATM/ITM network, and best-in-class products and services. We look forward to organically growing together for the benefit of our members and the communities we serve.”
