On March 3, 2020, the members of First Castle FCU ($68 million) approved a merger with Pelican State CU ($396 million). First Castle FCU's 5,928 members, 3 branches, and 16 employees will merge with Pelican State CU over the summer of 2020.
First Castle FCU was originally founded in 1934 to serve the Corps of Engineers New Orleans District, and it is the second oldest federally chartered credit union in the United States. Today, with branches in Covington, Slidell, and the U.S. Army Corps of Engineers' New Orleans location, the credit union serves all of St. Tammany Parish along with Corps of Engineers employees.
"We set out to choose a partner that would continue to provide enhanced services to our members and allow us to leverage additional resources for continued credit union and employee growth," explained Kirk Arnold, President/CEO and 28-year employee of First Castle FCU.
After interviewing several credit unions, First Castle FCU chose Pelican State CU due to its dedication to financial wellness, award-winning employee culture, and personalized commitment to its branch communities.
"Pelican State CU is dedicated to continuing First Castle FCU's commitment to St. Tammany Parish and the Corps of Engineers, and we look forward to providing its members with beneficial products and services for many years to come," said Jeffrey K. Conrad, President/CEO of Pelican State CU.
Pelican State CU currently serves 55,563 members and has 300 employees across Louisiana. This is Pelican State CU's 13th and largest merger to date, and the credit union is eager to work with First Castle FCU to preserve its values, history, workforce, and branches throughout this process.