Corporate America and LaCorp Put Merger on Hold For Now
IRONDALE, Ala. and METAIRIE, La. - Corporate America and Louisiana Corporate announced last month they were in the very early stages of evaluating a merger, and they have now decided more analysis is still needed. The two corporates said they will put merger plans on hold for now and start partnering now on select products and services that complement each other's offerings - they will decide down the road whether a merger is in the cards. "Organizations usually merge first and then begin the process of combining products and services. We want to see where we complement each other and where we don't.." said LaCorp CEO Dave Savoie. "We've been asking members for feedback, and what we're hearing is that they are eager to begin using a combination of what each of us offers," he said. "So, given the complex and lengthy process of due diligence, we think it's vital to collaborate right now on ways for members to take advantage of the best of what we both offer. That may or may not lead to combining back-office operations later on." This is one of four potential corporate CU mergers in play. The other three are WesCorp/VolCorp, Mid-States/Empire, and Southwest/Southeast.