First Service Credit Union to merge with SPCO Credit Union
HOUSTON, TX (August 30, 2024) — First Service Credit Union, with assets totaling $1.31 billion, announced plans to merge with SPCO Credit Union, which holds $37.16 million in assets. The merger, effective Sept. 1, 2024, will increase the combined institution’s assets to approximately $1.35 billion and expand its membership base to nearly 98,000.
SPCO Credit Union’s single branch will join First Service Credit Union’s 14 branches, bringing the total number of locations to 15. The merger will also provide SPCO members access to First Service’s network of 85,000 surcharge-free ATMs, including more than 1,500 deposit-taking ATMs, and various digital banking tools.
“By bringing our two credit unions together, we’re building on our shared values and strengths,” said David Bleazard, First Service Credit Union CEO and President. “This partnership enables us to offer even greater resources and support to our community and members, ensuring their financial success remains our top priority.”
Tim Adams, CEO and President of SPCO Credit Union, who will become the new SVP of Lending and Collections at First Service Credit Union, also emphasized the benefits for SPCO members and staff. “For our SPCO members, this merger opens the door to new opportunities while preserving the close-knit, community-focused service they’ve always known. We’re joining a larger organization, but our commitment to each member remains the same. Our dedicated employees, who have been the backbone of SPCO, will continue to provide the same personalized service, now with the added resources and support from First Service Credit Union.”
First Service Credit Union was founded in 1977 and currently serves 95,261 members. SPCO Credit Union has 2,755 members. The merger is intended to increase financial stability and provide expanded services to all members.
Further details about the merger can be found on the First Service Credit Union website at FSCU.com.
About First Service Credit Union
Founded in 1977 as Brownbuilder Federal Credit Union, First Service Credit Union is a Houston-based, member-owned financial cooperative. With assets exceeding $1.31 billion, it serves more than 96,000 members across Harris, Waller, and Fort Bend Counties, including Conroe and Magnolia Independent School Districts. First Service also serves the employees of several Select Employee Groups, including KBR and CenterPoint. For more information, visit FSCU.com.
About SPCO Credit Union
SPCO Credit Union is a member-owned institution with assets totaling $37.16 million and one branch location. The credit union was founded in 1936 to serve TNO Railroad employees and through subsequent mergers expanded to serve Union Pacific Railroad employees and any employee or owner of a graphics related company in Harris County, Texas. Today, SPCO Credit Union is a full-service financial institution serving approximately 2,700 members.
