League announces status of Galveston CUs

FARMERS BRANCH, Texas (9/24/08)--The Texas Credit Union League was still trying Tuesday to obtain a status report from two credit unions located in Galveston, the city hit hard by Hurricane Ike on Sept. 13.

They are Galveston School Employees FCU, a $5 million asset credit union with roughly 1,721 members, and Electrical Workers 527 FCU, a $1.4 million asset credit union with about 550 members.

Five credit unions, including those, have headquarters in Galveston. Two other credit unions located elsewhere have a branch in Galveston, reported the league.

The status of the five headquartered in Galveston:



Coastal Community FCU: The credit union's Galveston branch is closed, but its La Marque branch is open. It also has a satellite branch at the San Luis Hotel for all city and hotel employees only. The credit union has $36.4 million in assets and more than 89,333 members.


Electrical Workers 527 FCU: The league is working to obtain a status report. It has one branch.


Galveston Government Employees FCU: Its Galveston branch closed. The $9.5 million asset credit union has temporarily moved to a site in League City, where it is operating from a mobile unit.


Galveston School Employees FCU: The league is working obtaining a status report. It has one branch.


Island Teachers FCU: The Galveston branch is closed. It is temporarily serving members from an alternate site at Associated CU of Texas in La Marque. Island Teachers is a $605,351 asset credit union with more than 586 members.



Galveston also had branches of two other credit unions. Their operational status:



JSC FCU: Headquartered in Houston, this credit union's Galveston branch "is located in the historical strand area and took in about six feet of water," said the league. "It has 15 branches in the Houston area. All are open except for the Galveston, La Porte and Seabrook locations." The credit union has $1 billion in assets and 106,544 members total.


University FCU: Based in Austin, the credit union reported to the league that its Galveston branch is closed. The credit union has a temporary service center available at AMOCO FCU's Bay Colony Branch in Dickinson. University FCU has $929 million in assets and more than 123,578 members.

courtesy of cuna.org