First Service Credit Union Opens Katy Branch

First Service Credit Union
6/3/2015 12:00:00 AM -

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 Mike McWethy, Chief Operations Officer. “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 that 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. That allowed us to incorporate a new design.”

The new 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 new 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.