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Mississippi Farm Bureau Employees Credit Union becomes part of Keesler Federal

CANDI MITCHELL

Keesler Federal Credit Union continues its strong growth and branch network expansion with the merger of the Mississippi Farm Bureau Employees Federal Credit Union.

The MFBEFCU became part of Keesler Federal on February 1, 2020, following a vote of the MFBEFCU membership and both companies’ boards, and approval by the National Credit Union Administration.

The branch, located at 1401 Livingston Lane in Jackson, is unique in that it is only available to members who work in the Farm Bureau building

The merger expands the Keesler Federal branch network to 40 locations and will be the sixth in the metro Jackson area for Keesler Federal. The state’s largest credit union has opened branches in the past 14 months in Madison, Ridgeland and Flowood. Keesler Federal also has expanded in the New Orleans market and recently entered into Alabama with two locations in Mobile.

With assets of $3 billion, Keesler Federal is a not-for-profit, member-owned cooperative. Founded in 1947 to provide banking service to Keesler Air Force Base employees, membership now exceeds 240,000.

“This merger represents a wonderful opportunity for the Mississippi Farm Bureau Employees Federal Credit Union members,” said Candi Mitchell, MFBEFCU Manager/CEO who is now branch manager at the new Keesler Federal location.

“The credit union was financially strong, but the board felt the merger would prove more convenient and offer competitively priced products and services for members. The branch network also will offer members additional locations to conduct their financial transactions. We are excited to be part of the Keesler Federal family.”

All members of the MS Farm Bureau Employees FCU were provided information packets concerning the impending merger prior to the vote in late January.

Keesler Federal rates high in customer satisfaction according to two key measurements.

The Net Promoter Score (NPS) is a national management tool used to gauge the loyalty of a firm’s customer relationships. Keesler’s NPS score is 80, which compares to the national credit union average of 61. The average NPS for banks is even lower, at 35.

The Members Satisfaction Index measures customer’s satisfaction with a business. Banks average an index of 81 nationally and credit unions averaged 82 in the Member/customer satisfaction metric, while Keesler Federal members awarded it a 91.

Forbes magazine honored Keesler Federal as one of “America’s Best In-State Credit Unions” for the past two years.

Simultaneously, its capital is over 14%, more than double the required amount to be a well-capitalized institution per its regulatory agency, the National Credit Union Administration.

“Keesler Federal welcomes its new members and believes they will benefit from our commitment to member service and innovation,” said Andy Swoger, Keesler Federal President and CEO. “This merger benefits Keesler Federal by growing our membership and expanding our footprint within the greater Jackson market.”

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