SAN ANTONIO–Two Texas credit unions have announced a merger. The $60-million First Class American Credit Union and its 6,000 members has merged into the $300-million United Texas Credit Union in Fort Worth.
The merger is expected to be completed in November 2021, when First Class American FCU’s data systems will have been consolidated with United Texas. The credit unions said the merger will provide an expanded surcharge-free ATM network, additional branch locations, mortgage services, and a full array of business products and services to members of the former First Class American FCU.
FCAFCU, which was founded in 1929, has two locations in Fort Worth and the credit union will also retain all its employees after the merger.
‘Great Partnership’
“This merger will result in a great partnership between two strong institutions and increased member value,” said Kyle Ashley, president and CEO of United Texas. “We follow the credit union philosophy of ‘people helping people’ and this merger will help us to continue to deliver superior products and services to the membership.”
United Texas was chartered in 1955 to serve the employees of United Services Automobile Association (USAA). In 2005, the credit union converted to a community charter and expanded its field of membership.