New Financial Program at AMOCO Federal Credit Union Helps Underserved
January 30, 2023
GALVESTON COUNTY -- It’s no secret that AMOCO Federal Credit Union is known for its ability to rally around its members and community in more ways than one.
From providing financial services and products that meet its membership in a plethora of ways such as checking and savings accounts, mobile and online banking, loans, and investment opportunities, AMOCO has been serving its members for the past 85 years and currently boasts over $1 billion in funded loans, has over 100,000 members – and counting – and has been voted the best credit union in Galveston County more than once.
Along with all those qualities, AMOCO’s CEO, Shawn Bailey, saw the need to add another arm to the credit union after meeting with employees at the credit union, and the outcome of that meeting birthed the Financial Enhancement Uplifting Program which was created in May 2022.
The program, meant to enrich the financial lives in the community, particularly the underserved who tend to look to high-interest payday loans and pawn shops to obtain money, includes employees who venture out into the credit unions reach to share financial literacy programs and events, and provide options to get loans via AMOCO to help them build credit, too, IS&T Service Delivery Manager, Cleveland Lane Sr., said.
“It’s our hope that this newly-created program assists those in our community that truly need the help,” Lane said. “There’s no better feeling for us as employees to know that what we have to offer is meeting the financial needs of our members and potential members. It’s truly rewarding when we know we’ve made a difference.”
It was through this program that AMOCO was able to assist member, Betty Jones, of Texas City, who heard about it at her church in Hitchcock, she said.
Jones, who’s 72 years old, a 19-year cancer survivor, and has been a member of AMOCO for six years, was caught in a bind with the company who she financed her car with. After listening to the benefits of the program after a presentation by Lane and Kathy Warnell, who’s also an employee in the program, Jones came to AMOCO for help.
“Everyone at AMOCO was so helpful,” Jones said. “There aren’t enough words for me to express my appreciation toward AMOCO and all those who assisted.”
Along with AMOCO employees LaKisha Davis, Olivia Brown and Rachel Hunt, Lane led the charge to get Jones out of the sticky situation with the car loan company. In addition, after hearing Jones’ plight, a former employer of hers, Ed Staggs Jr., paid off her “new” car loan with AMOCO and on Friday, January 20, AMOCO presented Jones with her clean title at its Texas City Branch, Vice President of Records and Retention, Michael Payne, said.
“It took a substantial amount of behind the scenes maneuvering to accomplish this task,” Payne said. “Our team put on their superhero capes and came to the rescue for Ms. Jones. Their hard work, patience and professionalism exemplified our core values: Respect, Integrity, Services and Excellence.”
In addition to serving the needs of the underserved, the employee program also will be participating in local events such as parades and other financial literacy events, as well as spreading the word about the benefits of the program designed to help people take hold of their finances and to help them make changes to better themselves and their families.
“I’ve never had a bad experience with AMOCO,” Jones said. “For them to go above and beyond to help a little old lady like me, speaks volumes. I just thank them for all that they and Mr. Staggs have done for me. I’ll never forget this for as long as I live. AMOCO is a lifesaver.”
Headquartered in Texas City, TX., and recognized as one of the top 5 credit unions in the Houston/Galveston market, AMOCO Federal Credit Union is a member-owned cooperative organization with more than 100,000 members and over $1.15 billion in assets. AMOCO’s mission is to serve the financial needs of our members and has done just that for more than 85 years. AMOCO strives to provide the best products and services available to its members by offering low loan rates and little to no fees. For more information, please contact Angela Wilson at 281-296-1816, Ext. 5522 or awilson@amocofcu.org.