Gulfport, Miss.-based CU South is merging with Laurel, Miss.-based Sunbelt FCU, effective April 1, the Credit Union Journal reported, citing an email from Sunbelt FCU Executive Vice President of Operations Vernon Clevenger.
The financial terms of the deal were not disclosed.
Members of CU South have approved the pending merger, the news outlet added. Upon deal closing, all of the credit union's staff, including CEO Karen Lizana, will join Sunbelt FCU.
As of end-December 2018, Sunbelt FCU has $211.8 million in assets and CU South has about $7.6 million in assets, according to S&P Global Market Intelligence data.