Failed CDCU Merged Out
MARKS, Miss. – First Delta FCU, a one-time $7 million community development credit union run under conservatorship by NCUA since last October, will be merged into Shreveport FCU.
First Delta, which has negative net worth, has worked over the years to bring homeownership initiatives, small business services and other lifeline financial services to the Delta Region of northern Mississippi. It originally was named Quitman County FCU.
Under the deal, the credit union's footprint in this new region will be identified as the Delta Division of Shreveport FCU, which is an $82 million Shreveport, La., CDCU with 10% net worth.