Members of OnPath Federal Credit Union and Louisiana Federal Credit Union have approved a $1 billion deal to merge the two financial institutions.
As of Saturday, Louisiana FCU will begin to operate as “a division of OnPath Federal Credit Union,” said Candace Washington Theodore, senior vice president of member engagement. Theodore said some signage at Louisiana FCU branches has already been changed to reflect this.
Over the next year, the core systems of the two credit unions will be integrated. By the beginning of June 2025, all of the Louisiana FCU locations will be rebranded as OnPath Federal Credit Union.
The deal between OnPath and Louisiana FCU is the biggest credit union merger in Louisiana history. The combined OnPath will have more than 89,000 members and 15 branches in metro New Orleans.
The two credit unions said the merger will allow them to better serve members by offering more products and services, integrating new technology and strengthening finances.
OnPath started out in 1961 as the Avondale Shipyards Inc. Federal Credit Union. It currently has 53,000 members and 10 branches in metro New Orleans and Thibodaux.
Louisiana FCU was launched in 1935 as the Norco Refinery Employees Federal Credit Union. It now has more than 36,000 members, with branches in Norco, Gonzales, Gramercy, Hammond and LaPlace.