People’s Trust Federal Credit Union announces merger with Houston Chronicle Federal Credit Union
HOUSTON, TX (May 19, 2014) — People’s Trust Federal Credit Union announced that Houston Chronicle Employees Federal Credit Union will be merged into People’s Trust, effective July 1, 2014. HCEFCU members approved the merger at a Special Meeting of the Membership on May 15, 2014.
After the vote, Angela McCathran, President/CEO of People’s Trust said, “We are excited to be able to offer our 1,400 new members from HCEFCU a wide array of products and services that they have not had access to at HCEFCU, including checking accounts and mobile banking. We welcome them into our credit union family.” HCEFCU members will have access to People’s Trust’s products, services, and branches beginning August 4, 2014. People’s Trust will operate the HCEFCU branch in the Houston Chronicle’s building as a People’s Trust branch, also beginning August 4.
The Houston Chronicle Employees Federal Credit Union was founded in 1967 to serve the financial needs of the Houston Chronicle newspaper and over the years has provided its members with low-cost loans and other important financial services. Carolyn Ward, who has worked at HCEFCU since 1975 and been CEO since 2011, commented, “I was always confident that HCEFCU’s membership would understand the importance of this merger- that the focus has always been on what was best for them. Now, they have a wider range of products and services, better rates, other advantages and benefits available to them than before and a merger partner that shares the same values and principles that they are accustomed to. Our members should be very proud of their decision to merge with People’s Trust Federal Credit Union.”
People’s Trust, formerly named Shell Employees Federal Credit Union, is a full-service financial co-op. Since 1935, People’s Trust has returned profits to members in the form of higher dividends on savings, lower loan rates and reduced fees. Though based in Houston, People’s Trust serves members across the world. For more information, please visit www.peoplestrustfcu.org.