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Red River Employees FCU Assumes Shreveport FCU in Merger
Tuesday, October 10, 2017 6:50 AM

Red River Employees Federal Credit Union of Texarkana, Texas, has purchased and assumed operation of Shreveport Federal Credit Union, Shreveport, La., effective Oct. 2. The new branches of Red River Credit Union should see no interruption in services, and member deposits remain protected by National Credit Union Share Insurance Fund.

At the time of the purchase and assumption, Shreveport FCU was a federally insured credit union with approximately 22,000 members and assets of $88 million. Shreveport FCU consisted of eight branches, three in the Shreveport-Bossier area, one each in Grambling and Bastrop, La., and three in Mississippi. The Mississippi locations are in Marks, Clarksdale, and Batesville.

The National Credit Union Administration placed Shreveport FCU under conservatorship in April of 2017 to address issues affecting the credit union's safety and soundness and determined it was best to allow another institution to purchase and assume the operation.

Red River Employees FCU was chartered in 1942 and has 22 branches across Northeast Texas and Southwest Arkansas.

"Red River Credit Union welcomes the employees and members of Shreveport Federal Credit Union. We have a long history in the Texarkana area, and we are happy to be able to help the members and the new communities we are going to be serving with this addition," said Robert Buck, CEO of Red River. "This change for both credit unions provides an opportunity to take a significant step forward in our future growth and long-term success to benefit all of our members."

Red River Credit Union is growing to serve more communities and increase its positive impact throughout the region. With the combined resources of both institutions, the credit union is ideally positioned to enhance the overall membership experience.