WACO, TEXAS (January 17, 2024) — Waconized Federal Credit Union and 1st University Credit Union are pleased to announce their merger, forming a unified and robust financial institution. The newly merged entity will operate under the name 1st University Credit Union.
Waconized Federal Credit Union was chartered in 1947 to serve the employees of the Owens-Illinois glass plant in Waco, Texas. On September 21, 2023 O-I Glass, Inc. announced it would be closing its Waco plant later that year.
Elizabeth Hamilton, manager and CEO of Waconized, said, “With the glass plant closing, the board of directors and I realized that merging with another credit union was in the best interests of our members. After speaking with several potential merger partners, we made the strategic decision to merge with 1st University.”
The merger brings together two well-established credit unions with a shared commitment to delivering exceptional financial services to their members. By combining resources, expertise, and a dedication to member satisfaction, 1st University Credit Union is poised to provide an even more comprehensive and competitive range of financial products and services.
Key benefits of the merger include:
Enhanced Financial Strength: The merger strengthens the financial position of the credit unions, allowing for stability and a solid foundation for future growth.
Expanded Service Offerings: Former WFCU Members will benefit from an expanded array of financial products and services, including savings and checking accounts, loans, and innovative digital and mobile banking solutions.
Greater Convenience: With an increased network of branches and ATMs through the Co-op Shared Branch and ATM networks, members will enjoy improved accessibility and convenience for their banking needs.
Commitment to Community: 1st University Credit Union remains dedicated to supporting the communities it serves, with a continued focus on community involvement, financial education, and philanthropy.
Hamilton added, “This merger marks an exciting chapter for our credit union and our members. By joining forces with 1st University Credit Union, we are creating a stronger and more resilient financial institution that is better equipped to meet the evolving needs of our members.”
“We are thrilled to welcome the members of Waconized Federal Credit Union into the 1st University Credit Union family,” stated Kevin Hood, CEO and President of 1st University Credit Union. “This merger is a testament to our shared commitment to delivering exceptional value and service to our members, and we look forward to a bright future together.”
1st University Credit Union has been helping people achieve their financial goals since 1956, originally serving employees, students, and alumni of Baylor University and their families. Today, it is a full-service credit union serving the Baylor and Waco communities by providing financial services and products to meet modern demands. Find out more at culink.net.
Shelley Carlson
1st University
scarlson@culink.net
(254) 752-2797 x309
