Table of Contents

Section 1. About First Service and the Merger

Section 2. General Membership

Section 3. Branches & ATMs

Section 4. Digital Account Access

Section 5. Loans & Accounts

Section 6. Debit & Credit Cards

Section 7. Statements & Tax Forms

Section 8. Checks

Section 9. Insurance

Section 10. Investments

Section 1. About First Service and the Merger

While People’s Trust remained a strong financial institution, continued growth in recent years had been challenging at the current asset size. Larger financial institutions have greater access to resources and are able to leverage these strengths and invest in the advanced technology, marketing, and product development required to grow and better serve the financial needs of others. Additionally, the regulatory and interest rate environment is having a lasting impact on financial institutions of our size to sustain the profitability needed to thrive in the Houston area. The legacy People’s Trust Board of Directors and Leadership Team believe that a merger will allow us to better serve the financial needs of the membership and strengthen the financial position of the credit union, ensuring the long-term sustainability needed to compete with larger financial institutions.

No, it will not change until the operational merger on November 1, 2022. Until that date, you can continue to mail all loan payments, bill payments, deposits, and loan payoffs to this address:

First Service Credit Union

P.O. Box 4511

Houston, TX 77210

Beginning on Monday, May 2, 2022, you may begin calling the First Service main line at 713-676-7777 and selecting option 7 for assistance with your account.

First Service Credit Union (First Service) is a state-chartered, federally insured, member-owned financial cooperative operating from 10 branch locations throughout the Houston, Texas, area. Established in 1977 as Brownbuilder Federal Credit Union, First Service serves more than 68,000 members with over $847 million in assets. Membership is available to those who live, work, worship, or attend school in Harris, Waller, or Fort Bend Counties and the Conroe or Magnolia Independent School Districts, as well as to the family members of existing members. First Service also serves the employees of several Select Employee Groups, including Halliburton, KBR, and CenterPoint.

The legal merger date is May 1, 2022. The integration of the two organizations’ operations will take place throughout the summer and fall with a full system conversion scheduled for November 1, 2022.

The merger will provide members with a larger branch and ATM network as well as enhanced products and services. You will have access to most of the same products and services currently offered as well as several new products offered by First Service Credit Union, including enhanced checking accounts, youth savings accounts that pay for good grades, and business loans. Our combined knowledge and resources will result in significant economies of scale, which will increase our ability to innovate and meet the evolving technological and digital banking needs of our members while ensuring competitive rates. All the while, we will remain a member-owned, locally operated credit union focused on the needs of our members and the communities we serve.

Yes, all People’s Trust employees have been invited to stay with First Service after the merger and will play key roles in the combined organization.

None of the branch hours will be changing at this time, and the hours to call or chat with our Contact Center (formerly the Virtual Branch) will now be 7:30 AM - 6:30 PM CT Monday to Friday and 9:00 AM - 2:00 PM CT on Saturday.

Yes, People’s Trust will be adopting First Service Credit Union’s name and brand on May 1, 2022.

You can see all of the newly combined First Service Board of Directors and Executive Leadership Team on our Leadership page.

Section 2. General Membership

Effective May 1, 2022, your membership will be converted to First Service Credit Union. You will then be a member-owner of First Service, granting you the same benefits of membership as you had with the legacy People’s Trust Credit Union.

The current People’s Trust routing number 313084593 will remain active. Beginning November 1, 2022, you may begin using First Service’s routing number.

For most members, your account number will not change. While there are a few exceptions, these members will be personally notified of any changes related to their account number.

We’re glad that you are already using both credit unions for your financial needs. Once the merger is completed, you’ll have all your accounts in one place under one membership, which should be easier to manage.

Section 3. Branches & ATMs

First Service has a total of 16 branches and 20 ATMs in Katy, the Energy Corridor, Sugar Land, The Woodlands, Jersey Village, Spring Cypress, Atascocita, and more. You can see all of these locations on our Branches and ATMs page.

Starting Monday, May 2, 2022, you may visit any of the First Service branches and ATMs throughout the Houston area (in addition to the existing six legacy People’s Trust branches and seven legacy People’s Trust ATMs). You may not be able to perform all transactions right away since the system merger will occur on November 1, 2022, but we’ll be able to help you with nearly any transaction starting on May 1st.

Starting Monday, May 2, 2022, you can conduct transactions at any of the four public-access People’s Trust branches (and two restricted access branches if you work at those Shell locations) and any of the nine public-access First Service branches (and one restricted access branch if you are an STP employee). Please note that until we complete our core systems conversion on November 1, some transactions may not be available at the Sugar Land, the Woodlands, Katy, Spring Cypress, Atascocita, Park Ten, Gulf Freeway, Tunnels, Northwest, and STP branches. Those transactions include updating contact info, adding new account holders, opening or closing accounts or loans, IRA transactions, and instant issue of debit cards.

You can also visit any of the more than 5,000 shared credit union branches available through the CO-OP network. Please note that you will need to continue providing your credit union as People’s Trust until the operational merger on November 1, 2022.

You can find your nearest location on our Branches and ATMs page.

 

Not at this time. We are currently evaluating all area branches and their proximity to nearby locations, First Service is committed to maintaining the People’s Trust retail footprint post-merger. If it is determined that a branch needs to be closed due to redundancy, the employees would be reassigned to another branch or position.

Yes, after the merger we will begin to rebrand all of our services and branch locations with the First Service name and branding.

Yes, you will still able to use any of the 30,000 CO-OP ATMs with no surcharge. You can find your nearest location on our Branches and ATMs page.

Section 4. Digital Account Access

Yes, after the merger on May 1, 2022, the look of the website will be changing, but you will still be able to access it using the same web address: www.peoplestrustfcu.org.

The look of digital banking (HomeBranch™ Online Banking) will change slightly after the merger on May 1, 2022, when we are officially part of First Service, but all functionality will remain the same. When the full system conversion occurs on November 1, 2022, members will access their accounts using the First Service digital banking platform. There will be ample communication in advance of the system conversation to keep you informed.

After the merger on May 1, 2022, the look of the mobile app will change slightly, when we become part of First Service, but all functionality will remain the same. When the system conversion occurs on November 1, 2022, the mobile app will change to the First Service platform. At that time, you will need to download a new app on your phone or tablet. There will be ample communication in advance of the system conversation to keep you informed.

The look of Online Bill Pay will change slightly after the merger on May 1, 2022, when we are officially part of First Service, but all functionality will remain the same. When the full system conversion occurs on November 1, 2022, members will begin using Online Bill Pay within the First Service digital banking platform. There will be ample communication in advance of the system conversation to keep you informed.

Yes, all of your existing transaction history will continue to be available in digital banking (HomeBranch™ Online Banking).

Any automatic transfers that you have scheduled through digital banking (HomeBranch™ Online Banking) will continue to go through as usual. This may change when the full system conversion occurs on November 1, 2022, and we will communicate to you with plenty of time in advance of this change.

Yes, if your account is set up with Zelle, that connection will continue to work. This may change when the full system conversion occurs on November 1, 2022, and we will communicate to you with plenty of time in advance of this change.

Any alerts that you have set up through digital banking (HomeBranch™ Online Banking) will continue to go through as usual. This may change when the full system conversion occurs on November 1, 2022, and we will communicate to you with plenty of time in advance of this change.

Most members will not need to change their usernames. If there are any duplicate usernames that require changes, those members will be notified ahead of the conversion on November 1, 2022.

Section 5. Loans & Accounts

All of your existing share accounts and loans will remain open, and the existing account features will remain the same. When the operational merger occurs on November 1, 2022, some People’s Trust products will be converted to similar products with First Service, and you will be notified if any of these changes impact your loans or accounts.

If you have a fixed rate loan, you will continue to pay interest at the rate on your original loan document. If you have a variable rate loan or credit card, these rates may change when the operational merger occurs on November 1, 2022, and you will be notified if any of these changes impact your loans or accounts.

First Service and People’s Trust have already aligned the rates on all of our standard products, so the dividend rate on your share accounts will not change with the merger on May 1, 2022. Your dividends will continue to be paid as usual on the first of each month.

Yes, your deposits will continue to be insured up to at least $250,000 by the National Credit Union Administration (NCUA) after the merger is completed. If you have a membership at both credit unions and your current account distribution would exceed insurance limits, we can help you maximize your coverage at the combined credit union.

There will be no changes for your automatic payments and direct deposits. Both of these items will continue to be processed with no interruptions.

Your loan payment due dates will not change at this. When the operational merger occurs on November 1, 2022, the due dates for some of your payments may change, but we will let you know with plenty of time beforehand to make adjustments.

You can apply for a new loan or open a new share account using the online application on PeoplesTrustFCU.org or FSCU.com or by calling 713-676-7777 and selecting option 7.

Until the operational merger occurs on November 1, 2022, some First Service products will not be available by default to People’s Trust members. If you wish to open a specific First Service product that wasn’t previously offered by People’s Trust before November 1, 2022, we can assist you with opening a First Service membership to open that product. Then, when the operational merger occurs, your two memberships will be combined.

You can continue to pay your loans in the same way you have been paying them. Any automatic payments previously set up through HomeBranch™ Online Banking, now First Service Digital Banking, will continue to go through. You may need to update these when the operational merger occurs on November 1, 2022, and we will provide further instructions as we get closer.

If sending your loan payments via mail, please continue to send all payments to this address:

First Service Credit Union

P.O. Box 4511

Houston, TX 77210

Your overdraft protection and Courtesy Pay settings will stay the same.

If you have any joint owners on your account, authorized signers on a credit card, or co-borrowers on a loan, these will all stay the same after the merger.

If you already have a loan through the People’s Trust partnership with Member Home Loan, your loan will continue to serviced by Member Home Loan, and it will not be transferred anywhere. You can continue to make payments and contact their team as usual. If you wish to get a new mortgage, First Service’s in-house mortgage team will be available to assist with all of your needs.

Section 6. Debit & Credit Cards

You will be mailed new First Service credit and/or debit cards later this year. Please look for a separate mailing regarding information about your card.

If you previously had an ATM card, you will be issued a Visa Debit Card with contactless payment technology later this year. Please look for a separate mailing regarding information about your card.

Your debit and ATM card PINs will continue to work.

Section 7. Statements & Tax Forms

Your statement preferences will remain the same, so if you will continue to receive statements either in the mail or online as you have before. Beginning on June 1, 2022, you will notice that your statements will look slightly different, but it will contain the same account and loan information.

Statements records are available within HomeBranch™ Online Banking (now First Service Digital Banking) for 24 rolling months, and you may contact us for any additional statement records. Copies of past statements can be obtained at a cost of $5 per statement by calling the Contact Center or coming into a branch.

If you are to receive Forms 1098, 1099-C, 1099-INT, 1042-S, 1099-R, 1099-SA, 1099-Q, or Fair Market Value Statements for 2022 from the credit union, you will receive them from First Service for the entire year of 2022. Any Forms 1098, 1099-C, 1099-INT, and 1042-S will be sent to you according to your statement preferences, and Forms 1099-R, 1099-SA, 1099-Q, and Fair Market Value Statements will be mailed to your primary address on file. You will receive these in early 2023.

Section 8. Checks

You may continue to utilize your current People’s Trust checks until your supply is depleted. When needed, you may place an order for new First Service checks by visiting any branch, by calling 713-676-7777 and selecting option 7, or by logging in to First Service Digital Banking (formerly HomeBranch™ Online Banking) at FSCU.com or PeoplesTrustFCU.org.

You may order new checks by logging in to First Service Digital Banking (formerly HomeBranch™ Online Banking) at FSCU.com or PeoplesTrustFCU.org or by calling 713-676-7777 and selecting option 7.

Section 9. Insurance

No, you will not need to update these, as your loans will continue to be serviced by Member Home Loan.

No, you will not need to update the lienholder/loss payee on your insurance policy for any vehicles currently financed with People’s Trust.

For any new loans, we will provide you with the lienholder/loss payee details to use on your insurance policy when the loan is funded.

If you have any complimentary or paid insurance through TruStage, this will stay in place, and you will not need to take any action to maintain coverage.

Any existing credit life and credit disability insurance on your loans will stay in place according to your original loan agreement until the loan is paid off.

Any existing mechanical breakdown protection (MBP) or guaranteed asset protection (GAP) coverage on your loans will stay in place according to your original loan agreement until the loan is paid off.

Section 10. Investments

Your existing IRA accounts will remain open, and the existing account features will remain the same. When the operational merger occurs on November 1, 2022, the organization ID will be updated, and you will be receive further communication about this change before it happens.