Houston is a major metropolitan financial area with approximately 2,420 branches from over 150 banks and 155 credit unions. In addition, about 115 credit unions and 70 banks have headquarters in the Houston area. The best credit union in Houston offers more than what several banks can offer the people of Houston.
Many Houston residents seek a place to bank and are turned off by the “big banks” and would rather deal with a financial organization with a stronger sense of community. In addition, smaller financial institutions frequently have more latitude regarding lending terms and the interest they pay.
With many credit unions in the market and many more coming up, how will you know which credit union will be the best for your money? We have reviewed the best credit unions in Houston.
What are Credit Unions?
Credit unions are democratic, member-owned cooperatives that operate on a non-profit basis to continue offering you the best services and pricing. They have more of a community feel and serve only specific regions or specific groups of people, such as the ones employed by certain organizations.
Since a credit union is not meant for profit like the banks, it allows the best credit unions in Houston to get their members the best deals on special offers and interest rates. Also, instead of corporate shareholders, they prioritize serving their account holders.
What Makes Credit Unions Great?
1. Better Rates than CD and saving rates at local banks. Also, the borrowing rates may be lower.
2. Credit union members are owners of non-profits. When you join a credit union, your account is a share which gives you voting rights. However, you don’t enjoy dividends since they are not enjoyed. When a credit union makes a profit, it creates better opportunities for the community.
3. Credit unions allow low-income and financially strained individuals to qualify for financing.
4. Credit unions run special programs that help people save for holidays or help to finance the cost of university or higher education
5. Clerks work directly with clients and keep them happy since credit unions are small.
1. First Community Credit Union
Location: 15260 FM 529 Houston, TX 77095
Phone: 281-856-5300
Founded in 1954, First Community Credit Union is the official credit union of the Houston Texans football team.
It is one of the biggest credit unions in Houston. They have expanded over the past 60+ years and now have $1.4 billion in assets.
They have about 17 branch locations and are a part of the Co-Op Shared Branch Network, which increases branch access to over 5,000 sites across the country.
First Community Credit Union accepts membership applications from people who reside, work, or attend worship in Harris, Fort Bend, or Montgomery County.
Looking for the best credit union in Houston? This First Community Credit Union is a good place to start.
2. Shell Federal Credit Union
Location: 301 E. 13th St. Deer Park, TX 77536
Phone: 713-844-1100
Shell FCU offers share certificates for both short-term and long-term needs. You can get fixed rates and a fixed rate account with a guaranteed rate of return when you purchase a share certificate, and you also have the security of having a federally insured account.
The National Credit Union Administration, or NCUA, insures Shell FCU accounts for up to $250,000. Also, the dividends are calculated daily and distributed monthly. However, there are early withdrawal fees.
3. Navy Army Community Credit Union
Location: 21550 State Highway 249Houston, TX 77070
Phone: 800-622-3631
If you are looking for a credit union that doesn’t charge monthly feed
This credit union offers friendly, personalized service, high-interest checking and savings accounts, quick and simple financing loans, and excellent tools for growing your money.
You don’t have to be in the military to join the Navy Army Community Credit Union.
4. Texas Dow Employee Credit Union
Location: 1001 FM 2004 Lake Jackson, TX 77566-4012
Phone: 800-839-1154
TDECU is a non-profit financial cooperative that offers 360,000+ Members competitive financial products and individualized services. It has assets worth over $4.5 billion.
The union can assist you with all your banking needs, whether you require low-interest loans, savings accounts, or a home loan. In addition, TDECU has 33 Member Centers and more than 55,000 surcharge-free ATM locations to serve its members further.
5. Amoco Federal Credit Union
Location: 2300 Texas Ave. Texas City, TX 77592
Phone: 409-948-8541
From1937, Amoco Federal Credit Union has been a member-owned financial cooperative organization. AMOCO offers cheap rates and minimal to no fees to give its members the best financial products and services possible.
The credit union has increased from $28,000 in assets and 169 members to more than $838 million in assets and over 80,000 members.
6. Space City Credit Union
Location: 3101 Harrisburg BlvdHouston, TX 77003
Phone: (713) 222-1244
Space City credit union serves over 100 companies, and there are currently 8,400 members and $60 million in assets. It is member-owned and operated, meaning you will benefit from its great services at an outstanding value.
Members who reside in and work in the counties of Harris and Brazoria are eligible for this credit union. Also, you are qualified for membership if you are an employee of one of their member companies, making it one of the best credit unions in Houston.
7. Energy Capital Credit Union
Location: 18540 Northwest Fwy, Houston, TX 77065
Phone: (832) 604-4848
Energy Capital Credit Union is a financial cooperative offering various financial services. They include loans, investments, deposit accounts, insurance, security, credit and debit cards, online banking, and other products.
The institution serves active and retired employees of Toronto Transit Commission, Electrical, Toronto Hydro Corporation, Signals, Communications, and any employees under the Municipal Act, 2001.
8. BP Federal Credit Union
Location: 15455 Memorial Dr, Houston, TX 77079
Phone: (281) 870-8000
The BP Federal Credit Union has three branches, all situated in Houston, Texas, and has been serving BP employees and contractors worldwide since 1937.
The assets of this credit union in Houston, Texas, total more than $100 million. They provide all the standard banking services one might require, including checking and savings, as well as credit cards and lines of credit.
This Houston credit union welcomes new members regardless of employment status or retirement from BP. In addition, roughly 23 other groups they classify as contractor businesses and employees’ family members are also eligible for membership.
9. Houston Federal Credit Union
Location: 21550 TX-249 HoustonTX77070
Phone: (281) 243-0800
The Houston Police Federal Credit Union is a financial cooperative that was established in 1937 and is run and managed by the neighborhood police department. This credit union in Houston has increased its membership to over 29,000 and increased its assets to over $751 million.
Members of this leading credit union in Houston, Texas, enjoy access to more than 55,000 fee-free Allpoint ATMs at three branch sites spread around Houston.
Membership is only open to active or retired Houston police officers, active or retired Houston police department civilian employees, surviving spouses, or family members of a member.
10. Harris County Federal Credit Union
Location: 1400 Franklin St, Houston, TX 77002
Phone: +1 (713) 755-5160
This credit union was started in 1951 with the support of Harris County officials and sheriff department employee Thelma Joyce Alsup. Today, it serves about 19,000 members and has a full spectrum of financial solutions.
Although they only have one physical location, on Franklin Street in Houston, they are a part of the Co-Op Shared Branch Network, which increases their reach by over 2,000 self-service locations and almost 5,000 additional branches.
At this Houston credit union, you only need $5 to create an account. However, you must be a current or former employee of Harris County or have an immediate family member who is a member to qualify to join. You must also reside, work, attend school, or practice your religion in a qualifying zip code.
