Well, unlike other financial institutions we put our members' needs first and always find a way to satisfy them. Our assistance extends beyond the products and services we offer. We focus on what we can do for our community. Just ask one of our 500 Select Partners, which consist of businesses, associations and organizations in Galveston County and surrounding areas. It's no wonder why AMOCO has been awarded the title of Best Credit Union and Best Mortgage Company by the readers of Galveston Daily News. Join a financial family that offers more!
Meet the team that makes AMOCO exceptional.Executive Team
Each year members have the opportunity to vote and elect members to serve as volunteers on the credit union's Board of Directors. As directors, these volunteers are responsible for maintaining the general direction and control of the credit union. This includes guiding the organization to fulfill its purpose; setting all policies which guide the affairs of the credit union; and ensuring that those policies are properly implemented by the credit union charter, bylaws, all applicable federal/state laws, sound business practices, and the desires of the membership. Our Board of Directors include:
The purpose of the Supervisory Committee is to independently function as a “watchdog” for the membership. The committee oversees all aspects of the credit union to determine that it is soundly managed, that members’ assets are safeguarded, and that the credit union’s financial statements accurately depict the credit union’s financial condition. To fulfill its function, the Supervisory Committee is responsible for monitoring and evaluating the quality of the credit union’s finances, operations, and decisions. The following individuals were appointed by the Board of Directors to serve on the Supervisory Committee:
If you have any complaints or concerns about your AMOCO account, you may contact the Supervisory Committee at the following address: AMOCO FCU, Attention: Supervisory Committee, PO Box 709, Texas City, TX 77592-0709
The Governance Committee started as the Nominating Committee for the credit union and the original intention was to oversee the annual election process for the Board of Directors. However, the growing complexity of the credit union has made it necessary for the committee to expand its role and include other aspects of the governance including recruitment, development, and ongoing training of current and future volunteers. The following individuals were appointed by the Board of Directors to serve on the 2017 Governance Committee. These same individuals were also appointed to serve on the 2018 Nominating Committee:
A Volunteer Official must be a member in good standing. Volunteer Officials should not have been convicted of any criminal offense involving dishonesty. Volunteer Officials must be unselfish and willing to act for the benefit of the members. And Volunteer Officials should be sincerely interested in helping the members resolve their financial problems as permissible through services offered by the credit union.
Since being first chartered in 1937, the credit union has grown from $28,000 in assets and 169 members to almost a billion in assets and over 80,000 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 decision to keep the Amoco name 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 554 local sponsor companies and over 80,000 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.
When you become a part of AMOCO, you become a part of a family. A family who loves its members and celebrates their loyalty. To show our gratitude, we reward our long-term members with special offers. Check out the offers below.
10 Year Members
Option to choose between:
20 Year Members
Option to choose between:
30 Year Members
Option to choose between:
Term Share Certificate Accounts: 1APY is annual percentage yield. Minimum balance of $1,000 required to earn dividends. Term Share Certificate Accounts are subject to early withdrawal penalties based on maturity date. Member Loyalty Rate Bump-Up offer valid on new Term Share Certificate Accounts only. Deposits are federally insured by NCUA.
Loans: 2APR is annual percentage rate. Member Loyalty Rate Bump-Down offer valid on all new loan types and terms, excluding credit cards, line of credit and share secured loans . Loans currently financed at AMOCO are not eligible for this offer.
Member Loyalty offers expire December 31, 2018 and cannot be combined with other offers. Member Loyalty coupons must be presented at account opening or mentioned in person or by phone. Only one Member Loyalty offer per member per calendar year. Contact an AMOCO FCU representative for Member Loyalty criteria and eligibility.