The NCUA recently approved the addition of a 477-census tract underserved area to AMOCO FCU’s field of membership. The expansion allows AMOCO FCU to offer services to persons who live, work, worship, or attend school in, and businesses located in the underserved area. The underserved area increases AMOCO FCU’s potential field of membership potential by 2.49 million.
Previously AMOCO FCU’s field of membership was predominately SEG driven. The addition of the underserved area now allows AMOCO FCU to open membership eligibility up to those who live, work, worship, study, or do business within one of the 477-census tracts in Texas. This wide geographical foot print extends north to south from Liberty, TX to the shore line just south of the Justin Hurst Wildlife Management Area and east to west from High Island Beach to Mission Bend neighborhood of Houston.
AMOCO FCU enlisted the help of CUCollaborate to add the underserved area to their existing field of membership. CUCollaborate provides field of membership consulting services to help credit unions expand their field of membership with their regulator.
Tina Foster, Executive Vice President of Administration at AMOCO FCU exclaims “This addition gives AMOCO the opportunity to enhance the financial lives of individuals who have not had convenient access to financial institutions. By offering education and affordable products and services, we know we can make a positive and lasting impact.”
“We are excited by AMOCO Federal Credit Union’s expanded field of membership. Every expansion we assist with furthers our efforts to help Americans improve their financial wellness through access to the superior financial products and services offered by credit unions like AMOCO.” said Sam Brownell, Founder and CEO of CUCollaborate.