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First Service Credit Union Opens Katy Branch
Thursday, June 4, 2015 6:50 AM

First Service Katy Branch

Part of Strategy to Achieve Bold Three-Year Growth Objective

The new full-service branch that First Service Credit Union will dedicate Saturday, June 6, to serve the booming Katy area is a key step in an ambitious growth plan for First Service. The branch is designed to serve consumers and current members in the Katy area, thanks to its convenient location. Other First Service branches in the area are in Cypress and Brookshire, each about 12 miles from the new branch.

"We have thousands of members in the Katy area who have told us they wanted a branch there," said Chief Operations Officer Mike McWethy. "Katy is one of the fastest-growing areas in the entire nation, and having a presence there is definitely a plus for us as well as a convenience to our members."

The full-service branch, housed in a 3,500-square-foot building, is located at 23665 Katy Freeway. It has an ATM and three drive-through service lanes. The branch is starting out with five employees, including veteran Branch Manager Nolan Waltman. The building has a distinctive look, in line with First Service Credit Union's colors and branding, and reflects a modern retail approach for the credit union.

"This is the first branch we have ever built from the ground up," McWethy explained. "At all the other sites, we either leased the property or inherited it from a previous owner." The new building allowed them to incorporate a new design.

The Katy branch is part of a long-term strategic growth plan for First Service. The credit union has set a goal of $800 million in assets by 2018. It currently has $546 million in assets, with nearly 54,000 members, so its goal represents 47 percent growth in three years. The Katy branch, along with at least two more branch openings planned this year and early in 2016, is designed to help speed First Service toward its 2018 objective.

The Katy Branch also offers "shared branching," so that members of other credit unions can take care of their financial business there. McWethy noted that because some other local credit unions have ended their shared branching arrangements, First Service is now the only credit union in that area offering the service.

A grand opening celebration is planned for the branch Saturday, June 6, from 10 a.m. to 2 p.m. There will be free food, entertainment for children, and prize giveaways.

First Service Credit Union has 12 full-service branches in the Houston metropolitan area, along with three company client-specific branches. It was founded in 1978 by employees of a premier engineering, procurement, construction and services company, and is now community chartered to serve members in the Houston area. For more information, visit