Pelican State Credit Union acquires First Castle Federal Credit Union
BATON ROUGE, LA (August 6, 2020) — On August 1, 2020, First Castle Federal Credit Union ($69 million) completed its merge with Pelican State Credit Union ($519 million). First Castle FCU’s 5,814members, 3 branches, and employeesare now part of the Pelican family.
First Castle was originally founded in 1934 to serve the Corps of Engineers New Orleans District, and it is the second oldest federally chartered credit union in the United States. Today, with branches in Covington, Slidell, and the U.S. Army Corps of Engineers’ New Orleans location, the credit union serves all of St. Tammany Parish along with Corps of Engineers employees.
“We set out to choose a partner that would continue to provide enhanced services to our members and allow us to leverage additional resources for continued credit union and employee growth,” explained Kirk Arnold, President/CEO and 28-year employee of First Castle.
After interviewing several credit unions, First Castle chose Pelican due to its dedication to financial wellness, award-winning employee culture, and personalized commitment to its branch communities across Louisiana.
“Pelican is dedicated to continuing First Castle’s commitment to St. Tammany Parish and the Corps of Engineers, and we look forward to providing its members with beneficial products and services for many years to come,” said Jeffrey K. Conrad, President/CEO of Pelican.
Pelican currently serves 55,563 members and has 300 employees across Louisiana. This the credit union’s 13th and largest merger to date, and the credit union is eager to work with First Castle to preserve its values, history, workforce, and branches throughout this process.
For merger resources and to learn more about the benefits of Pelican membership, visit pelicanstatecu.com/firstcastle.
Petey the Pelican and Dinero the Dragon celebrate the official merge of First Castle FCU and Pelican State Credit Union.
About Pelican State Credit Union
For over 60 years, Pelican State Credit Union has been providing financial services to individuals and their families throughout the state of Louisiana. The credit union is dedicated to improving the lives of its members through safe, competitive products and educational services. Pelican was originally chartered as the Department of Hospitals Credit Union, located in downtown Baton Rouge, to serve Louisiana charity hospitals, mental health centers, and state office personnel. They have since grown into the largest state-chartered credit union in Louisiana now serving over 60,000 members. For information, visit pelicanstatecu.com.
