Keesler Federal Credit Union continues expansion with merger
Mississippi Farm Bureau Employees Credit Union in Jackson, Miss., has merged into Keesler Federal Credit Union in Biloxi, Miss.
The $15.3 million-asset Mississippi Farm Bureau Employees CU joined Keesler on Feb. 1 after its members voted to approve the deal, according to a press release on Thursday. Its branch is located in the Farm Bureau Building in Jackson.
“The credit union was financially strong, but the board felt the merger would prove more convenient and offer competitively priced products and services for members,” Candi Mitchell, MFBEFCU manager and CEO who is now branch manager at the new Keesler Federal branch, said in a press release. “The branch network also will offer members additional locations to conduct their financial transactions. We are excited to be part of the Keesler Federal family.”
The $3 billion-asset Keesler now has 40 branches with six of those in the Jackson metro area. Keesler also recently opened locations in three other Mississippi cities and has entered the New Orleans and Mobile, Ala., markets.
Mississippi Farm Bureau Employees CU posted a net income of just over $36,000 last year, a drop of nearly 48% compared with 2018.
Keesler earned $30.6 million in 2019, up about 2% from a year earlier.