Shell Federal Credit Union of Deer Park, Texas, announced that it reached $1 billion in assets under management during the first quarter of the year.
“The board, management and staff are blessed to be a part of and excited to celebrate reaching this historic milestone in Shell FCU’s journey,” stated Jose Rodriguez, Shell FCU’s president and CEO.
Rodriguez noted the credit union was chartered 81 years ago from the Shell Refinery in Deer Park, with only 40 employees and their families as members. Now, Shell FCU has more than 90,000 members and serves all of Harris County, Texas.
“With deliberate personal responsibility and professional accountability, Shell FCU has grown to be a safe, strong, aggressive, financially sound and trusted institution within our communities,” Rodriguez added. “This milestone will serve as a springboard for future growth to continue changing lives with amazing relationships and the awesome products and services we offer.”
Shell FCU posted net income of about $11.3 million in 2017, up from $6 million in the prior year.