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GENCO FCU Looking Forward to the Next 60 Years
Tuesday, March 19, 2013 4:55 AM

genco_small_version.jpg

Like too many other credit unions who for years had successfully served a select employer group, GENCO FCU reached a crossroads in the mid-80s.  Its select employer group (SEG), General Tire and Rubber Company announced it was closing the Waco plant.  The credit union was faced with an uncertain future.

Believing that there was a need for GENCO FCU in the market space, the board of directors for the Waco-based credit union moved quickly on a field of membership expansion.  Chartered in 1953 to serve only employees of the General Tire and Rubber Company and their families, the credit union today serves multiple SEGs, as well as anyone who lives, works and/or worships in McLennan and Angelina counties.

“From our very humble beginnings in 1953, we have now grown to six locations proudly serving more than 33,000 members in two counties,” notes GENCO FCU president and CEO Neil Ling.

The $230 million in assets credit union has a capital level over 10 percent, which Ling says should signal to the community that GENCO FCU is strong, secure and here for the long-term.

Now celebrating their 60th anniversary, Ling says the credit union has big plans for the future. GENCO FCU is in the process of rebranding itself, and along with a new logo, they have a new slogan: My Money, My Future, My Credit Union – GENCO.

On May 7th, the credit union will launch new upgrades on their internet banking site – NetBranch. They are also revamping their web site to be more engaging and user friendly. 

“Our loyal members have put their trust in us and we take that very seriously,” Ling said.  “I’m confident that GENCO FCU will be serving the needs of current and future members for many more years to come.”