Unlike other financial institutions, AMOCO puts its members’ needs first and always finds a way to satisfy them. Their assistance extends beyond the products and services they offer. AMOCO focuses on what they can do for our community.
Concern for the community is something that also extends to our environment, which is why we are helping to keep our highways litter-free as a proud sponsor with the Texas Sponsor A Highway® program, a unique environmental marketing opportunity that supports customers and the communities in which they live.
AMOCO’s partnership in the Texas Sponsor A Highway® program helps to ensure they are recognized as responsible corporate citizens because they support the beautification needs of our communities across the great state of Texas.
It’s no wonder the readers of Galveston Daily News have awarded AMOCO the title of Best Credit Union and Best Mortgage Company.
Since being first chartered in 1937, the credit union has grown from $28,000 in assets and 169 members to $750 million in assets and over 75,000 members.
The credit union was initially organized as a Pan Am Employees Federal Credit Union to serve the financial needs of the Pan American Refining Corporation of Texas City employees.
In 1947, the credit union expanded for the first time to include employees of AMOCO Chemicals in Texas City and (Pan American) subsidiary.
In 1955, the credit union changed its name to Amoco Federal Credit Union to correspond with the new name of its sponsor company, Amoco Oil Refinery. Two years later, and twenty years after its organization, Amoco Federal Credit Union claimed $2.6 Million in assets and 3,100 members.
In 1998, Amoco Oil and British Petroleum (BP) merged into BP Amoco, and as of 2004, it would be called BP. With that change, Amoco Federal Credit Union decided to keep the Amoco name because it represented stability and familiarity in the community. The board and management decided to make only one minor change. The “Amoco” name was changed to represent an acronym, making it AMOCO (A Member Owned Cooperative Organization) Federal Credit Union.
Today, it includes a diversified membership for 554 local sponsor companies and 75,000 nationwide members. Recognized as one of the largest credit unions in the Houston/Galveston area, AMOCO continues to grow in large part due to the satisfaction and loyalty of members and the commitment of our volunteers and staff.
Learn more about them by visiting their web site.