With FOM expansion, First Community CU to serve four largest markets in Texas
The $2.7 billion-asset credit union added 16 counties to its field of membership as well as San Antonio and the Texas capital of Austin.
First Community Credit Union in Houston is expanding its field of membership to include two more huge cities in Texas.
The $2.7 billion-asset credit union was already serving members in Houston and Dallas and has now added San Antonio and Austin into the mix, as well as 16 additional Texas counties.
“From our humble beginnings in 1954 as Spring Branch Educators Credit Union, First Community has continued to grow and expand to new heights,” said President and CEO TJ Tijerina in a press release.
Effective immediately, FCCU membership is now open to businesses and individuals who live, work, worship or attend school in 41 of Texas’ 254 counties.
The new counties added to FCCU’s field of membership are Austin, Bastrop, Bell, Bexar, Brazoria, Caldwell,Colorado, Comal, Fayette, Gonzales, Guadalupe, Hays, Milam, Lee, Travis and Williamson.
The organization now serves the four largest metropolitan areas in Texas.
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The credit union was already experiencing strong membership growth. It added nearly 12,000 new members in the past year to bring its total membership to more than 175,000, according to call report data from the National Credit Union Administration.
That represents 7.3% year-over-year growth – stronger than even Navy Federal, which experienced a 7% increase during the past four quarters. The credit union industry in total saw 2% membership growth during that period.
The expansion, which was recently approved by the Texas Credit Union Department, will enable FCCU to strengthen its connection with more Texas communities and continue to improve the financial well-being of its growing member base through consumer and commercial products.
First Community earned roughly $109,000 in the first quarter, a 94% decrease compared to a year earlier, according to call report data from the NCUA.
The credit union serves its members with 17 branches.
“People helping people is the core of who we are. It’s how we started and what we look forward to accomplishing most with this expansion throughout the Lone Star state.”
– TJ Tijerina
President and CEO
First Community Credit Union
