New Toyota Plant Served by Two CUs

SAN ANTONIO – Torrance, California-based Toyota Federal Credit Union and San Antonio Federal Credit Union, have teamed up to serve the employees, vendors, suppliers and contractors at Toyota Motor Manufacturing’s new San Antonio location. “We look forward to a long and prosperous partnership with San Antonio FCU. Our goal is to ensure that all individuals are provided with the finest financial services available. This arrangement will accomplish that,” said TFCU CEO Frank Dunst. The two credit unions will share a full-service branch in a Toyota facility just outside the plant. According to SACU Sales/Service SVP Sharon Spring, the branch is slated to open in mid-2006. Spring says specific plans are still in the early stages and everything from branch design to operations and marketing decisions will be a complete collaboration. While Toyota FCU provides financial services exclusively to Toyota employees throughout North America, San Antonio FCU will serve non-Toyota employees associated with the plant. “My board celebrated the new partnership with excitement and enthusiasm. It’s a win-win for everyone. We are pleased to join with an organization that shares our values and commitment to excellence,” said SACU CEO Jeff Farver. In 2003, Toyota chose a 2,000-acre site in San Antonio to build approximately 150,000 Tundra full size trucks annually, beginning in late 2006. The new plant will represent an $800 million investment by Toyota. In addition to the 2,000 jobs Toyota will create, 18 automotive suppliers will set up operations on the site of the new plant with $150 million investment and employ an additional 1,500 team members.