Raiz FCU celebrates $1 billion in total assets
Paving the Path for Positive Change
EL PASO, TX (August 25, 2023) — Raiz Federal Credit Union proves 2023 to be a successful year by surpassing over $1 billion in total assets. Reaching this significant milestone follows their highly anticipated system upgrade that took place in July, and places Raiz as one of the Top 50 credit unions in Texas. Founded by seven educators as Teachers Federal Credit Union in 1936, the credit union has grown to serve over 70,000 members.
Raiz’s President and CEO Max Villaronga expressed his gratitude, stating, “This achievement was only possible with the collective effort and collaboration from every department and team within Raiz FCU. Together, we have built a financial institution that not only strengthens the economic well-being of our members but also serves as a driving force for positive change within our community.”
As a not-for-profit organization, Raiz’s success translates directly into benefits for its members. Profits made are given back to members in the form of lower fees and higher dividend rates. Reaching such a goal symbolizes more than just financial growth; it signifies the credit union’s ability to enhance the lives of its members and uplift underserved communities.
From providing free financial education courses to actively supporting initiatives based on community welfare, Raiz remains true to its deeply rooted heritage in education and embodies the credit union philosophy of “people helping people.” Villaronga shares more on the credit union difference, “At Raiz, we envision a bold path forward, leading the way with passion. Join us and experience the difference that comes from working with people who care.”
About Raiz Federal Credit Union
At Raiz (pronounced as "rise" in English and "rah-EES" in Spanish), our members and strong, vibrant community inspire us daily. We share a passion for knowledge and the pursuit of growth, grounded in our heritage as El Paso Area Teachers Federal Credit Union (TFCU). Today, we guide members from many professions to focus on their goals and help them get here. We're proud of our roots in El Paso (since 1936) as we envision a bold path forward, leading the way with passion. We are over 70,000 members strong and provide a full range of high-quality financial services at the great rates and low costs you can expect from a first-class credit union. Join us and experience the difference that comes from working with people who care.
The meaning behind our name:
Spanish for root, our new identity grows from our heritage in the community. Grounded in the roots of our beginning with teachers, sharing a passion for knowledge and pursuit of growth. We inspire our members and employees to feel connected to our future potential together. We are rising and inviting people to move forward with us. As we look out to the light over the Franklin Mountains rising from El Paso, we look up and ahead to an even brighter tomorrow.
