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Keesler Federal and Jefferson Financial: A Transformative Union

On May 28, 2025, Keesler Federal Credit Union proudly announced the successful approval of its merger with Jefferson Financial Federal Credit Union, a milestone that will reshape the landscape of credit unions in the Gulf South. The decision, endorsed by a significant majority of Jefferson Financial's members, sets the stage for the two entities to unify as one legal organization by July 1, 2025, paving the way for substantial growth and enhanced financial services.

This merger represents a historic event, as it is the largest credit union merger in the combined history of Louisiana and Mississippi, solidifying Keesler Federal's status as a key player in the region's financial landscape. Following the completion of the merger, Keesler Federal's assets will swell to an impressive $5 billion, alongside an expanded member base that will exceed 380,000 clients and incorporate 55 branch locations across the Gulf states.

According to Andy Swoger, President and CEO of Keesler Federal, the merger is anticipated to yield significant benefits for members of both credit unions. “We are in a very strong financial position already. With this merger, we will bring even greater strength and stability for our members and the region,” he noted. Enhanced resources and operational efficiencies are expected to provide members with superior personal services and broader access to financial products.

As a result of this merger, Keesler Federal will absorb Jefferson Financial’s 14 branch locations across Greater New Orleans, further solidifying its physical presence and operational footprint in the area. Until full integration, which is anticipated in early 2026, Jefferson Financial will operate under the title “Jefferson Financial Federal Credit Union – a division of Keesler Federal.” This strategic approach ensures a smooth transition while providing continued service to existing members.

To add to the strength of the union, Keesler will integrate the existing staff of more than 145 employees from Jefferson Financial, bringing its total workforce nearly to 900. Importantly, the merger guarantees job security for all employees, showcasing Keesler Federal’s commitment to its team during this transformative phase.

Keesler Federal has been recognized for its exceptional financial performance, boasting $4.2 billion in assets and a net income of $41.2 million in 2024, reflecting a Return on Assets (ROA) of 1.00%. This strong financial footing far surpass the national average ROA for similar-sized credit unions (0.55%) as indicated by the National Credit Union Administration.

Founded in 1947, Keesler Federal has continuously evolved, striving to meet the diverse needs of its members and build stronger communities. Recognized by Newsweek as one of America’s Best Regional Banks and Credit Unions in 2024, Keesler Federal is not only a financial institution but also a community-focused cooperative serving members from various backgrounds throughout Louisiana, Mississippi, and Alabama, as well as international locations in the United Kingdom.

With the impending merger, Keesler Federal aims to leverage Jefferson Financial’s local expertise and community relationships to further enhance member experiences and offer a wider array of services. As they move forward, both institutions are excited about the possibilities that this merger holds for current and future members.

The collaboration holds great promise in fostering a more comprehensive financial environment for the Gulf South community, making it evident that this merger echoes the commitment to providing better services and building a robust financial future for all involved.

In conclusion, the merger of Keesler Federal and Jefferson Financial signifies not just a numerical growth in assets or membership, but reflects a commitment to excellence in service and community engagement that will undoubtedly benefit countless individuals across the region for years to come.