JACO Federal Credit Union recently merged with Centric Federal Credit Union after JACO’s members overwhelmingly approved a recommendation to become part of Centric.
“It was important to find a partner that shared the service culture of JACO,” said Tommy Folk, JACO President.
“Centric was selected because they align the closest with the values, ethics and principles of JACO and our membership.”
The merger was approved by the National Credit Union Administration (NCUA) on Aug. 31, 2021. The membership vote was held at JACO’s Annual Meeting on Nov. 4, with a completion date of Nov. 30.
The combined credit unions will serve over 34,000 members with $282 million in assets and 100 employees.
Centric has six service centers in Ruston, West Monroe, and Monroe.