Main Street Financial FCU seeks revote on merger

The following is a news release from Main Street Financial:

Main Street Financial FCU seeks revote on merger

Denham Springs, LA (October 26, 2012) – The Board of Directors of Main Street Financial Federal Credit Union (MSFFCU), with $97 million in assets and headquartered in Denham Springs, is proposing to merge with Metairie based credit union Jefferson Financial Credit Union.

The merger has received approval from the National Credit Union Association and a majority vote by members of MSFFCU is required for the merger to proceed. Ballots have been mailed and members can cast votes by mail or at a special member meeting. Meetings will be held at the DOTD Headquarters, 1201 Capitol Access Rd, Baton Rouge on Nov. 8 at 4 p.m.; the MSFFCU Nelson Road branch, 3600 Nelson Rd, Lake Charles on Nov. 13 at 5:30 p.m.; and the MSFFCU Denham Springs branch, 1620 South Range Ave, Denham Springs on Nov. 20 at 5:30 p.m. All ballots need to be received by noon on Nov. 27 for an announcement at the MSFFCU Denham Springs branch
at 5:30 p.m.

"The decision to merge is based on current economic climates and the increasing expense of regulatory changes, but mainly the ability to provide better financial services for our members," said John Lyon, Board Chairman of Main Street Financial Federal Credit Union. The MSFFCU Board of Directors has selected Jefferson Financial Credit Union because of its continued strong growth, and no overlap in fields of membership and branch locations. While MSFFCU remains financially sound, this merger would further ensure the soundness of the organization.

About Main Street Financial Federal Credit Union

Main Street Financial Federal Credit Union (formerly LA DOTD FCU) was founded in 1939 and is overseen by a voluntary Board of Directors. The Credit Union provides wealth building to anyone who lives, works, worships, or attends school in Calcasieu, Cameron or Livingston parishes; as well as over 200 Louisiana corporations; and the Louisiana Department of Transportation and Development employees, contractors, consultants and their family members. For more information about Main Street Financial FCU, call (800) 436-8328 or visit www.msfinancialfcu.org.