85th annual meeting highlights AMOCO’s tremendous growth
TEXAS CITY, TX (February 23, 2023) — AMOCO Federal Credit Union, led by CEO and President Shawn Bailey, held its 85th annual meeting with more than 300 members and credit union board members, administration, and staff in attendance on Tuesday, February 21, at the Charles T. Doyle Convention Center.
Boasting more than 100,000 members and $1.3 billion outstanding in assets, AMOCO provided updates about its past performance and its future. Members also got a chance to hear the executive staff, Chief Operations Officer Ashley Carner, Chief Administration Officer Gail Figueroa, and Chief Financial Officer Jeremy Silva report on the credit union’s financial stability and products and services.
“I can’t imagine what the seven founders of our credit union would have to say some 85 years later about where we are today,” Bailey said. “One thing that hasn’t changed throughout our tenure are those same principal values those seven individuals brought to the table. We’re just as committed now as they were then to make sure our members come first and their financial needs are met.”
2022 was a banner year for AMOCO, as it not only celebrated its 85th anniversary and its 100,000 member, but the credit union also was named the “Best Credit Union” and “Best Financial Advisor” by The Galveston County Daily News; “Large Business of the Year” by the Alvin-Manvel Area Chamber of Commerce; “Regional Impact Award” by the Galveston Regional Chamber of Commerce; “Community Partner Award” by the Dickinson Independent School District’s Education Foundation; “Community Campaign Financial Institution Division Achievement Award” by the United Way Galveston County Mainland;” “Community Champion Award” by the Bay Area Alliance for Youth & Families; and the “Image of the Year Honoree” by the Tri-County Black Chamber of Commerce.
“The founders of AMOCO had servant’s hearts,” Bailey said. “This commitment to serving still holds true today as everyone’s role at AMOCO is to serve, no matter what their title may be.”
Through its mission, which is to serve the financial needs of its members, AMOCO has grown to $1.1 billion in member loans outstanding, $112 million in members’ equity, and formed its first Credit Union Service Organization (CUSO) holding company, which will allow AMOCO to expand the availability of products and services to its members, Carner said.
“It’s been a fabulous year,” Bailey said. “On behalf of the management team and staff of the credit union, I thank the board for its strategic direction and the membership for your confidence and trust in allowing AMOCO to manage your financial affairs.”
AMOCO also recognized Member of the Year, Alex Vargas; Select Partner of the Year, Marathon Petroleum-Galveston Bay Refinery; Volunteer of the Year, Craig Mason; Platinum Club Members of the Year, Jens and Lisa Jenson; New Employee of the Year, Sindy Alvarez; Employee of the Year, Tracy McMeekin; and Manager of the Year, Krystle Ulhaq. In addition, Roger McCrary, who has served in various capacities on the board of directors for the past 36 years, was honored for his service and commitment to AMOCO.
“AMOCO has helped me throughout my financial journey and sparked my interest in math and becoming money-savvy,” Vargas said. “With AMOCO, I’ve achieved my dream of purchasing my car and am in the process of finding a future home, too.”
For more information, visit amocofcu.org.
About AMOCO Federal Credit Union
Headquartered in Texas City, TX., and recognized as one of the top 5 credit unions in the Houston/Galveston market, AMOCO Federal Credit Union is a member-owned cooperative organization with more than 104,000 members and over $1.4 billion in assets. AMOCO’s mission is to serve the financial needs of our members and has done just that for more than 85 years. AMOCO strives to provide the best products and services available to its members by offering low loan rates and little to no fees. For more information, please contact Stacey Malbrough at 281-534-5514 or smalbrough@amocofcu.org.
