Our Lady of the Lake credit union to merge with Campus Federal

Campus Federal Credit Union announced today it is beginning merger proceedings with Our Lady of the Lake Regional Federal Credit Union. Campus Federal spokesman Ron Moreau says the hospital’s credit union will do business under the Campus Federal name and brand according to the deal, which still needs to clear some regulatory hurdles and get approval by members of the OLOL credit union. Moreau says a cooperative endeavor agreement reached last year between LSU and Our Lady of the Lake Regional Medical Center paved the way for the merger of the two credit unions, as Campus Federal is the official credit union of LSU. “That opened up the opportunity for us; and after we started looking into it, it just made perfect sense,” he says. OLOL credit union board Chairman Vivian Frey calls the deal “a tremendous opportunity we could not pass up” in a prepared statement, adding, “In this new regulatory environment, this partnership will provide superior benefits to our members and the entire OLOL community.” Once the deal is complete, Campus Federal will retain and rebrand the lone OLOL credit union branch at the hospital’s campus, Moreau says, adding the merger will also bring some opportunities for expansion in the future. Campus Federal is the third-largest credit union in the state, with more than 39,000 members and seven branches in Baton Rouge, New Orleans and Shreveport. —Steve Sanoski