AMOCO Expands Field of Membership
Field of Membership Expansion
AMOCO Federal Credit Union is excited to announce that the National Credit Union Administration (NCUA), the governing agency that regulates credit unions, recently approved our request to expand our field of membership, which was also unanimously approved by your Board of Directors.
Effective immediately, membership is now open to everyone who lives, works, worships, attends school, or frequently does business within one of the 477-census tracts in Texas. The underserved expansion allows AMOCO to serve 2.5 million consumers with a wide geographical footprint extending north to south from Liberty, TX to the shoreline just south of the Justin Hurst Wildlife Management Area and east to west from High Island Beach to Mission Bend neighborhood of Houston.
We are excited to make a positive and lasting impact not only in Galveston County but for all areas we can now serve. AMOCO is financially strong and recognized as one of the top 5 credit unions in the Houston/Galveston market, with over 104,000 members and over $1.4 billion in assets. We offer full-service, easily accessible locations and a wide range of financial products, services, and technology so that members can perform all their banking conveniently online.
For the past 85 years, AMOCO has put a significant focus on building loyalty with its membership, select partners, and supporting the communities we serve. We welcome everyone to AMOCO and look forward to working with new communities, businesses, and people.
We understand that our current membership and select partners may have questions, and we want to take this opportunity to answer some of these for you.
Our field of membership began with one sponsor company, Pan Am Employees Federal Credit Union. Over the past 83 years, we have added nearly 600 other sponsor companies and groups, including organizations and associations. That said, we continue to receive requests for membership from individuals not affiliated with our sponsor companies. We believe everyone should have access to affordable products and services. This expansion allows us the opportunity to enhance the financial lives of even more individuals who have not had convenient and affordable access to financial institutions.
AMOCO remains committed to serving its sponsor companies and plans to expand its resources to continue supporting all sponsor groups in addition to the new expansion areas.
We are considering all options concerning new and future branch locations. One of the biggest lessons we have learned over the past year is that members are using technology for their banking needs now more than ever. Therefore, we will need to find the right balance between physical locations and technology to serve our existing and expanded membership best.