Keesler Federal expanding to serve more Mississippians

Credit union plans three new locations in state’s largest market.

BILOXI, MS (November 26, 2018) — Keesler Federal Credit Union has opened a new location in the state’s largest market, the first of three planned in the coming months.

Keesler Federal’s newest branch, its 31st, is located in the Jackson suburb of Ridgeland. Jackson is the state’s largest city as well as the state capital.

Keesler has two additional Jackson market locations planned for the coming months. Branches in the fast-growing communities of Madison and Flowood are already under construction.

With assets of $2.5 billion, Keesler Federal is a not-for-profit, member-owned cooperative, the largest credit union in the state. Founded in 1947 to provide banking service to Keesler Air Force Base employees, it now has more than 31 locations, including branches in the Jackson, Hattiesburg and New Orleans markets as well as the Coast. Membership exceeds 216,000.

Keesler Federal already had two locations in Jackson, and the expansion will increase their branches to five.

“The response we have received in the metro Jackson area has been overwhelming,” said Andy Swoger, Keesler Federal CEO. “We want to go where there is a need, and our members’ feedback and research indicate there is a need.

“The fundamental difference between a credit union and a bank is that banks have shareholders. Often the object is to increase the wealth of the shareholder, and that might have nothing to do with the customers.”

Datatrac – an independent, national research firm that monitors deposit and loan rates, fees and product features – has recognized Keesler Federal with the Datatrac Great Rate Award® for its auto loan, saving deposit and certificate rates. The auto loans rates were up to 47 percent lower than the Jackson metro average, saving deposit rates up to 58 percent higher and certificates up to 85 percent more.

“Whether it’s our lending or deposit rates, we are consistently the best in our markets,” Swoger said. “More importantly, we look for a way to say yes to our members. We believe in our members and will exhaust every option available to help them. And it’s very easy to qualify for membership.

“We do whatever it takes to exceed member expectations,” he said. “We are not here to meet their expectations. We are here to exceed our members’ expectations in every aspect. Period. Without our members we don’t exist.’

According to two surveys, members like what Keesler Federal is doing to meet their needs.
The Net Promoter Score (NPS) is a national management tool used to gauge the loyalty of a firm’s customer relationships. Nationally, the credit union NPS average is 61 and the average NPS for banks is 35. Keesler Federal’s is 80.

The Members Satisfaction Index measures customer’s satisfaction with a business. In 2017, banks averaged an index of 81 nationally and credit unions averaged 82 in the Member/customer satisfaction metric, while Keesler Federal members awarded it a 91.

Earlier this year, Forbes magazine honored Keesler Federal as one of “America’s Best In State Credit Unions” in its inaugural ranking of the industry.

Keesler Federal has experienced tremendous growth over the last two years, as total loans grew 31 percent, the total amount of new loans 40 percent and the branch network 30 percent. This year Keesler Federal expects to exceed $1 billion in new loans for the first time in company history.

Simultaneously it has reduced risk and its capital position of almost $400 million is more than double the required reserved amount to be a well-capitalized institution per its regulatory agency (NCUA). All accounts are insured up to $250,000.

About Keesler Federal Credit Union

Keesler Federal is a $2.5 billion cooperative, a not-for-profit owned by its members. The credit union has experienced tremendous growth over the last few years, including a 40 percent increase in new loan demand. Established in 1947, Keesler Federal Credit Union is the largest Mississippi-based credit union and has more than 600 employees. With 29 branches, Keesler Federal serves over 216,000 members worldwide.


Sharon Keller
Vice President, Marketing
Keesler Federal Credit Union
2602 Pass Road
Biloxi, MS 39531

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