The $2.1 billion Texas Dow Employees Credit Union in Lake Jackson said Tuesday it has reopened seven bank branches under the cooperative's brand.
TDECU purchased the branches in July from Hancock Holding Co., the parent corporation of Whitney Bank. This acquisition, and the credit union's purchase of an eighth Whitney Bank branch in Shenandoah earlier this month, expanded the 178,354-member credit union's branch network from 25 to 33.
As part of the seven-branch acquisition, TDECU acquired approximately $34 million in consumer and real estate loans and assume about $30 million in deposits.
The acquired seven bank branches, primarily located in Houston and its surrounding area, underwent remerchandising such as new signage. ATMs also were installed, said TDECU in a prepared statement.
Former Whitney Bank employees were offered employment with TDECU and received additional training on credit union procedures and processes, as well as training on the cooperative's customized customer service standards, the credit union said.
“Since reopening the branches, the response from the former bank employees and customers has been exceptional,” said TDECU Chief Financial Officer Rhonda Kleinecke. “We were excited to have the opportunity to occupy the bank branches and welcome these former bank employees and customers to the credit union way of personal finance.”
TDECU said all of Whitney Bank's 1,700 customers have become members of the cooperative.
The move is a continuation of the big credit union's push into the Houston area over the past couple years.
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