First Service CU (TX) is headquartered in Houston and is the 25th largest credit union in the state of Texas. It is also the 333rd largest credit union in the nation. It was established in 1977 and as of June of 2023, it had grown to 263 employees and 94,715 members at 15 locations. First Service CU (TX)'s CD rates are 6X the national average, and it has a B health rating.
Field of Membership Restrictions
Membership in First Service Credit Union is open to those who live, work, worship, or attend school in the Texas counties of Austin, Brazoria, Chambers, Fort Bend, Galveston, Grimes, Harris, Liberty, Matagorda, Montgomery, San Jacinto, Walker, Waller or, Wharton, or the Conroe ISD or Magnolia ISD. Membership is also open to employees of Halliburton, KBR, NRG, CenterPoint, Kinder Morgan, Baker Hughes and other Select Employer Groups, and to the family of current members.
See current membership details
FIRST SERVICE CREDIT UNION
This bank started out good then some things came to light in the past month that sadly is making think of a new bank. to start phone customer service can not do anything, there answer is to always go to a branch. Called them a couple months ago to increase the ATM withdraw limit so i could get a money order to pay rent, and they tell me they cant do that?. they could not increase my daily limit. it took a half hour and two managers to get it done.
Next and heres the one thats making me leave. They have NO fraud department. Got about 300 dollars taken out of my account my someone who got my card info. Called customer service and the answer was to go to a branch and fill out a paper forum likes its 1990. witch they say they send to visa(cause they dont intestate at all on their end) and i might get my money back in a couple of weeks. meanwhile i have 20 dollars for the rest of the week until payday.
One thing i did like about them is they do not put holds on payroll checks if you have the pay stub.
Bad Service
I would give them zero star if I could! Their online banking is a joke. Customer service is even worse! They allow you to setup external accounts. But you CANNOT transfer fund to external accounts. You can ONLY transfer from the external accounts to FSCU!. I wanted to transfer my money from FSCU to my external account.But messed up the from and to accounts. So the transfer became from my external account to FSCU. A FSCU associate called me minutes later to confirm the transfer. After I told her I actually wanted to transfer the money out, she told me that I actually scheduled a transfer in. I said please cancel the transfer and she agreed. But this is not the end of the story. On the second day, I found out that they actually draw the money from my external account!!! I called them and asked them why they still draw the fund from my external account after I told them to cancel. They told me once the transfer is scheduled, they cannot cancel it. Can you believe this? They called me minutes after I scheduled the transfer (to confirm) and now they are saying they cannot cancel the it! Why would they call me if they cannot do anything on the transfer!?
Beware FSCU Early Withdrawal Penalty
FSCU's long term interest rates may be outstanding sometimes but note the outrageous (dare I say "unconscionable?") early withdrawal penalty. FSCU could confiscate years' worth of interest--even taking it out of your principal:
"7. Early Withdrawal Penalty
"We may impose a penalty if you withdraw from your account before the maturity date.
"Amount of Penalty.
"The amount of the penalty is half of the interest that would be earned on the account from the date of withdrawal through the maturity date
"How the Penalty Works.
"The penalty is calculated as a forfeiture of part of the interest that would be earned on the account. If the account has not yet earned enough interest or if the interest has already been paid, the penalty will be deducted from the principal."
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68605 |
| Year Chartered | 1977 |
| Employees | 263 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.02% |
| Return on Equity - YTD | 10.25% |
| Annual Interest Income | $30.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $1.39B$1.40B |
| Loans | Q2 2023vs Q2 2022 | $1.03B$977.0MM |
| Deposits | Q2 2023vs Q2 2022 | $1.06B$1.21B |
| Equity Capital | Q2 2023vs Q2 2022 | $137.9MM$129.5MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$5.3MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $7.0MM$3.2MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
