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Two credit unions roughly 1,000 miles apart announced a merger that creates one of the newest billion-dollar credit unions in the country.
On Monday, the Chantilly, Va.-based Justice Federal Credit Union ($999.5 million in assets, 63,732 members) announced it has merged with Law Enforcement & Technology Federal Credit Union ($52 million in assets, 4,492 members) in Miami. The merger, according to officials, will give LE&T FCU members access to more products and services.
Justice Federal exclusively serves the justice, law enforcement and public safety community and now, with the LE&T FCU merger, the credit union will be able to serve that community in southern Florida.
In a prepared statement, Justice Federal President/CEO Mark Robnett said, "I am extremely pleased to announce the merger with LE&T FCU. The merger supports our strategic plans to grow our membership through opportunistic M&A activity and continued organic growth. Merging with LE&T FCU serves as a catalyst for future expansion to enhance our service to the justice and law enforcement community across the nation."
Founded in 1935 inside the Department of Justice, Justice Federal began when 12 members combined their monies, totaling $137, to provide small loans to colleagues during the Great Depression.
Today, Justice Federal has 20 branches located in eight states, including the District of Columbia.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
