July 1, 2010 – On June 30th, the National Credit Union Administration (NCUA) merged First Delta Federal Credit Union of Marks, Mississippi, with Shreveport Federal Credit Union of Shreveport, Louisiana. NCUA placed First Delta FCU into conservatorship in October 2009 and has been operating the institution with the goal of continuing credit union serve for the members.
First Delta Federal Credit Union members will now be members of and receive credit union service from Shreveport Federal Credit Union, a multi-branch Community Development Credit Union offering a full range of products and services.
The new Shreveport Federal Credit Union members will experience no interruption in service. The National Credit Union Share Insurance Fund (NCUSIF), a federal fund operated by NCUA, insures Shreveport FCU member accounts up to at least $250,000.
First Delta FCU was a $5.6 million dollar credit union chartered in 1981. At the time of merger, it served approximately 3,000 members who live and work in the Quitman, Panola, Tallahatchie, and Coahoma Counties in Mississippi.
Shreveport FCU is an $81.9 million federally chartered, federally insured institution headquartered in Shreveport, LA. It was chartered in 1956 and with this merger now serves more than 18,000 people throughout Quitman, Panola, Tallahatchie and Coahoma Counties in Mississippi and the employees of the City of Shreveport, Louisiana (except uniformed firemen and policemen) along with over 170 Select Employee Groups and Associations in Louisiana.