Randolph-Brooks Federal Credit Union, based in Live Oak, Texas, has increased membership rapidly during the past several years, culminating recently in a milestone.
The credit union now boasts 400,000 members throughout south central Texas. During the past year, Randolph-Brooks has grown its membership by 12%, and during the past five years has added almost 150,000 new members.
According to CEO Randy M. Smith, the credit union’s growth continues because consumers are looking for increased value in their financial dealings.
“Credit unions are able to serve consumers by giving back more to their membership, charging lower fees and offering lower loan rates,” Smith said. “We’re continuing to grow, in both membership and assets because we put our members first, focusing on products and services that meet their needs.”
During the first quarter of the year, Randolph-Brooks also surpassed $5 billion in assets.