Two Baton Rouge credit unions, the $191 million Pelican State CUand the $93 million Eagle FCU, said Wednesday they have agreed to abranch swap at a New Orleans facility which felt the brunt ofHurricane Katrina in 2005.

Under the transaction, Pelican State is transferring loans, alone employee and the actual trailer building in Chalmette, a NewOrleans suburb, to Eagle effective April 17.

The branch sits on a refinery site and once housed $3 millionChalmette Refinery CU, which had been in danger of closing until itwas eventually merged into Pelican to protect the member base.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.