Our Lady of the Lake Regional Federal Credit
Union Details About the Proposed Merger
OLOLRFCU is now Campus Federal!
As of April 2, 2012, the merger is now complete. Campus Federal and Our Lady of the Lake Regional Federal Credit Union have joined forces to create an even better credit union to serve you.
This is GREAT news for members of Our Lady of the Lake Regional Federal Credit Union (OLOLRFCU). It means more services, more locations, competitive rates and a secure financial future.
- Expanded services for OLOLRFCU members: checking accounts, debit cards, online and mobile banking, certificates, IRAs and expanded loan options (including mortgages) will be available to OLOLRFCU members.
- The combined credit union will provide for a sound financial future and meet the additional needs of the entire membership.
QUESTIONS & ANSWERSWhy are we partnering?
The OLOLRFCU Board of Directors has explored various options available to expanding services and access to members. After careful consideration, it was determined that a merger would provide greater branch access, expanded product availability, electronic access and many other value-added services. Additionally, with the recent cooperative endeavor agreement between LSU and Our Lady of the Lake Regional Medical Center, Campus Federal was selected as the best fit for the OLOLRFCU membership as they currently serve the LSU community.
Is the decision to merge final?
Yes, as of Thursday, February 23, 2012, the merger has been approved by NCUA, the OLOL Board of Directors and the OLOLRFCU Members. Each member had an opportunity to submit their vote prior to the special meeting that took place on February 23, 2012.
Is the credit union in financial trouble?
No. Both credit unions are financially sound and considered well-capitalized by the National Credit Union Association (NCUA).
Is my money safe?
Yes. Your funds continue to be federally insured by NCUA, up to $250,000.
Will there be layoffs?
No. All OLOLRFCU employees will be retained and will be actively involved in the merging of operations.
When will OLOLRFCU members be able to start using Campus Federal branches?
As of April 2, 2012, OLOLRFCU members now have full access to Campus Federal branches.
When will the partnership take effect?
The partnership took effect on April 2, 2012.
Will the credit union name change?
Once the merger is complete, OLOLRFCU will be known as Campus Federal – Our Lady of The Lake Branch.
Will the OLOLRFCU membership numbers change?
If your membership number changes, you will be personally notified in writing from Campus Federal.
How will I be notified of changes to my account?
Members will receive updates via letters, postcards, lobby posters and a special web page dedicated to members.
Will OLOLRFCU have Board representation?
Yes. An additional voting board seat for OLOLRFCU has been added to the existing Campus Federal Board.
Merger is now complete!
WHERE TO GO FOR UPDATED INFORMATION.
Please visit this Web page or contact Ron Moreau at 225-769-8841 ext. 4885.