OnPath Federal Credit Union on Monday announced an agreement to acquire Louisiana Federal Credit Union, which would create a New Orleans area credit union with more than $1 billion in assets.
Louisiana FCU of LaPlace, La., 29 miles west of New Orleans, must gain member approval to be acquired by OnPath, which is based in Metairie, six miles west of New Orleans.
Louisiana FCU had $403.9 million in assets and 36,032 members as of Sept. 30. OnPath had $623.5 million in assets and 52,978 members. If the merger had been completed Sept. 30, the combined credit union would have had just over $1 billion in assets and 89,010 members.
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