Red River credit union buys Shreveport FCU

Red River Federal Credit Union has just expanded its operations, taking over the branches of Shreveport Federal Credit Union as of Monday.

"SFCU has been struggling for awhile," said John Stevens, senior vice president of RRFCU. "The National Credit Union Association came in to help out for a few months, but it didn't work. 

"So the next step was to allow other credit unions to put in a bid for the branches and assets. RRFCU put in the winning bid."

The process was completed Monday, with RRFCU completing the purchase and assuming operations of the SFCU branches. These branches are now RRFCU branches.

"We chartered in 1943," said Stevens, a 35-year veteran with RRFCU. "Our operations are mainly in East Texas, Arkansas, parts of Oklahoma. With the acquisition of SFCU, we will now be operating in Louisiana and Mississippi. This increases our service area considerably, as well as bringing our member rolls up to around 100,000 members."

Stevens says their new members can look forward to the same solid, stable service their longtime RRFCU customers have enjoyed.

"We look forward to increasing the services we provide to our new members," Stevens said. "We will help out our new communities in which we will be operating."

Stevens anticipates that Shreveport customers will notice the biggest difference.

"We will be able to offer services and stability they may not have had before," he said.

The eight branches added to RRFCU bring the number of branches with the RRFCU name to 30.

Most RRFCU members aren't expected to notice any obvious change.

"Their assets will continue to be secure and enjoy the same service, and possibly more in the future," Stevens said.

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