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IMPORTANT UPDATE 07.22.2025———> CLICK HERE
Dear Member,
We are excited to inform you that Louviers Federal Credit Union has been in discussion with another highly respected local credit union in Delaware, and we have entered the application phase of the merger process. The potential merger partnership is with Del-One Federal Credit Union, which has 12 branches located throughout Delaware. Del-One was chartered in 1960 and currently has approximately 89,000 members and over $740 million in assets.While the merger process is ongoing and many details are being actively worked on, we are committed to keeping you informed every step of the way. At this stage, no immediate changes are planned, and we will share more details as soon as they are available. We understand you may have questions about how this could impact your membership and any of our daily operations.
Please see below for FAQs that may proactively answer some of your questions regarding this potential merger.
Is either credit union in financial trouble?
No. Both Louviers and Del-One continue to achieve growth and success independently. However, the Board of Directors and Executive Team of both organizations recognize the opportunity of joining together to create a larger institution that can benefit from more efficiencies and resources.
Why consider a possible merger?
Louviers Board of Directors and Executive Team have been researching this possibility, but wanted to first make sure we could find a merging partner that shares our strong commitment to members, employees, and the community. By combining the two credit unions, we will be able to strengthen our current markets and expand more throughout Delaware, adding more locations in New Castle County as well as branch locations in both Kent and Sussex counties. Together, we will be able to provide better services, more products, competitive employee benefits, and better growth opportunities by having more budget dollars to devote to the credit union and ultimately our membership. Louviers and Del-One have complementary portfolios, and a merged credit union would create a more diversified, competitive credit union. The combined credit union (Del-One FCU would be the “surviving" or“continuing” credit union) would blend the vision, people, experience, capabilities, and resources of two strong credit unions, benefitting our members, communities, and employees for the long term.
Would my accounts continue to be insured?
Yes. Your accounts will remain safe, sound and insured. In addition to the deposit insurance through the National Credit Union Administration (NCUA) for up to $250,000 in coverage, Del-One FCU also offers up to an additional $250,000 in coverage through the Excess Share Insurance Corporation (ESI).
How else will members from both credit unions benefit from the proposed merger?
• Expanded branch network — Members will have access to sixteen (16) branch locations.
• Improved technology — The credit union will be better able to continually invest in the latest technology to make managing your finances convenient and simple.
• Greater membership value — The combined deposit and capital base and the economies of scale that would result from this partnership would give us added resources to:
Offer even greater levels of member service
Produce a diversification of risk
Provide new credit union membership opportunities
Expand our community support programs
Open branches and additional ATMs in proximity to where members live and/or work
Offer attractive rates, better accessibility, and lower fees
Would there be any layoffs because of this merger?
No layoffs are planned for employees at Louviers or Del-One as a result of this merger. As a larger organization with more complex operations, it is critical that the organization maintain its strong workforce and all employees will continue to work for the combined organization.
What if the application is not approved by the NCUA?
While this potential merger provides an amazing opportunity for growth, Louviers is financially sound. We could potentially continue to explore additional merger opportunities but only if they make sense.
What are the next steps?
The merger application is currently under review by federal regulators. Once regulatory approval is received, you, the membership of Louviers FCU, will vote on the merger. The merger would then proceed upon an affirmative vote by our members. As stated above, we are still in the beginning stages of this process and no final decisions have been made. We will keep you informed as we continue with the discussions.
In closing, thank you for being a member and for the trust you place in us. This potential merger could position Louviers for a stronger, more sustainable future where we can continue to deliver enhanced value and opportunities for you, our loyal members. Regardless of whether this merger comes to fruition or not, we look forward to the future and will continuously invest in our employees and innovative products and services to enhance your experience.
Sincerely,
Chris Davis
President & CEO
Louviers Federal Credit Union