KeyPoint members OK merger with Neighbors

A merger between Keypoint Federal and Neighbors Federal credit unions will move forward following a vote Thursday night by Keypoint members to approve the merger, says Neighbors Chief Administrative Officer Dan Robichaux. “Eighty-nine percent of Keypoint’s members voted in favor, which is a very high percentage,” Robichaux says. “At this point we have not set any dates as far as when the merger will officially take place. There is still a lot of behind-the-scenes work to be done to merge their system with ours and to make sure the transition is as smooth as possible for all members.” The National Credit Union Administration has already given preliminary approval to the merger, and both credit unions’ boards of directors have also given it the green light. Neighbors members were not required to vote on the merger. Robichaux says a timeline on the merger will likely be nailed down in the coming weeks. Once merged, he says, the combined credit unions will operate under the Neighbors Federal name and brand. Neighbors, formerly known as Baton Rouge Teachers Federal Credit Union, employs more than 200 people and manages about $500 million. It serves a nine-parish area in the Capital Region and is open to all area residents. KeyPoint, formerly COPO Federal Credit Union, originally served employees of DSM Copolymer. Since 2003 it has been open to anyone who lives, works, worships, goes to school or conducts business in East Baton Rouge, West Baton Rouge, Ascension and Livingston parishes. —Steve Sanoski