The Red River Credit Union of Texarkana, Texas, has purchased Shreveport Federal Credit Union, and today assumed ownership.
In April, National Credit Union Administration placed Shreveport Federal Credit Union, in Shreveport, Louisiana, into conservatorship, which allowed the credit union to continue regular operations with different management in place.
At the time of today’s assumption, Shreveport FCU was a federally-insured credit union with approximately 22,000 members and 85 million in assets.
It consisted of eight branch locations – three in Shreveport, one in Grambling, one in Bastrop and three in Mississippi.
The new branches of Red River Credit Union should see no interruptions in services and member deposits remain protected by National Credit Union Share insurance fund.
Red River Credit Union was chartered in 1943 and prior to today’s purchase, operated 22 branch locations across North Texas and Southwest Arkansas.