A merger between two local credit unions is in very early stages of discussion, representatives say. Officials of both Neighbors and KeyPoint federal credit unions say they have been in contact with each other regarding the issue, and both consider the plan to be in its infancy. Kathi Gill, president/CEO of Neighbors, says that, though “discussion between the two boards” has happened, the merger “is not anything that is anywhere near being finalized.” Gill says that such talks are at a preliminary stage, but even a solid decision would require subsequent approval from the National Credit Union Administration. “I don’t want to put the cart before the horse,” Gill says. Keith Bennett, chairman of the board at KeyPoint, says, “It’s real early right now” in the decision-making process but that the board “should know more in a month or so.” He says KeyPoint wants to do “what would be better for membership overall.”
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 around East Baton Rouge 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. —Ian McGibboney
