DENHAM SPRINGS, La. – Members of Main Street Financial FCU voted yesterday to approve the merger of their $95 million credit union into Jefferson Financial CU, eleven months after they voted down the merger proposal.
The original merger proposal was defeated by more than 1,000 votes, which officials attributed to a quick vote and expectations surrounding the merger, including branch closures and lay-offs.
Main Street Financial, formerly LA DOTD FCU, has one office each in Baton Rouge, Denham Springs and Livingston and two in Lake Charles. All branches will remain open and employees will retain their jobs after the merger.
Jefferson Financial CU is a $280 million credit union nine branches, three in Metairie and one each in Jefferson, Harvey, Kenner, Marrero, St. James and Gretna.
It was the second merger in recent months to succeed after an initial member rejection, following the combination of Montana First CU into Washington’s Horizon CU.