Two More Corporates To Merge
IRONDALE, Ala. — The corporate merger climate heated up this afternoon as Corporate America CU and Louisiana Corporate CU announced plans to combine, the third corporate merger announced over the past six weeks.
If approved, the result will be a $3.9 billion Corporate America CU, with headquarters in Irondale, Ala. The combined corporate will serve 514 member credit unions in 26 states.
Plans call for Louisiana member services and potentially CUSO operations to be housed in the Metairie, La. facility. Corporate America's President/CEO, Thomas Bonds, will serve as President/CEO of the combined organization. LaCorp's staff will remain in place and continue to serve credit unions in Louisiana.
The deal comes as members of Southwest Corporate (Bridge) FCU are voting on plans to merge into Georgia Corporate FCU, and while Mid-Atlantic Corporate FCU is preparing to absorb Virginia Corporate FCU.