Amoco

Our History

Since being first chartered in 1937, the credit union has grown from $28,000 in assets and 169 members to more than $543 Million in assets and approximately 59,000 members to date.

The credit union was originally organized as a Pan Am Employees Federal Credit Union, to serve the financial needs of employees of Pan American Refining Corporation of Texas City.

In 1947, the credit union expanded for the first time to include employees of AMOCO Chemicals in Texas City, and AMOCO (Pan American) subsidiary.

In 1955, the credit union changed its name to Amoco Federal Credit Union to correspond with the new name of its sponsor company, Amoco Oil Refinery. Two years later, and twenty years after organization, Amoco Federal Credit Union claimed $2.6 Million in assets and 3,100 members.

In 1998, Amoco Oil and British Petroleum (BP) merged into BP Amoco and as of 2004 it would be called BP. With that change Amoco Federal Credit Union made the choice to keep their name the same because it represented stability and familiarity in the community. The board and management decided to make only one minor change. The "Amoco" name was changed to represent an acronym, making it AMOCO (A Member Owned Cooperative Organization) Federal Credit Union.

Today, AMOCO Federal Credit Union includes a diversified membership that includes more than 250 local sponsor companies and 59,000 members located throughout the country. Recognized as one of the largest credit unions in the Houston/Galveston area, AMOCO continues to grow in large part to the satisfaction and loyalty of members and the commitment of our volunteers and staff.

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