Question 1

What is Texas MOPAC Employees Credit Union (MOPAC Employees CU)?

Accepted Answer

Texas MOPAC Employees Credit Union (MOPAC Employees CU) is a federal credit union serving Union Pacific Railroad employees, Texas State Railroad employees, retirees, and their families in East Texas. With approximately $20.9 million in assets and 2,374 members, this community-focused credit union provides comprehensive financial services to railroad workers and their extended family members.

The credit union operates as a full-service financial cooperative dedicated to the financial wellness of its members, offering traditional savings and lending products along with modern digital banking capabilities.

Question 2

When was Texas MOPAC Employees Credit Union (MOPAC Employees CU) founded?

Accepted Answer

Texas MOPAC Employees Credit Union was chartered in 1936 (Charter Number 1129) as MOPAC Employees Federal Credit Union. The credit union was originally established to serve employees of the Missouri Pacific Railroad (MoPac), which was a major railroad system that later became part of Union Pacific Railroad.

The credit union has served railroad employees for nearly 90 years, adapting to industry changes including the evolution of the Missouri Pacific Railroad into the Union Pacific system. Throughout its history, it has remained committed to serving the unique financial needs of railroad workers and their families.

Question 3

Where is Texas MOPAC Employees Credit Union (MOPAC Employees CU) headquartered?

Accepted Answer

Texas MOPAC Employees Credit Union is headquartered at 200 Queen Street in Palestine, Texas. The credit union's mailing address is PO Box 205, Palestine, TX 75802.

Palestine is located in Anderson County in East Texas, approximately 100 miles southeast of Dallas.

Question 4

Where does Texas MOPAC Employees Credit Union (MOPAC Employees CU) operate?

Accepted Answer

Texas MOPAC Employees Credit Union operates primarily from its Palestine, Texas location, serving members throughout East Texas and beyond. The credit union's field of membership is based on employment and family relationships rather than geographic boundaries.

Membership is restricted to Union Pacific Railroad employees, Texas State Railroad employees, retired employees from these railroads, and their immediate family members. The credit union's definition of family includes anyone related by blood or marriage, creating an extended membership network throughout Texas and other states where Union Pacific operates.

Question 5

What services does Texas MOPAC Employees Credit Union (MOPAC Employees CU) offer?

Accepted Answer

Texas MOPAC Employees Credit Union offers a comprehensive suite of financial products and services including:

Deposit Accounts: Share accounts (savings) and share draft accounts (checking) with competitive dividend rates.

Lending Products: Consumer loans, including personal loans and lines of credit to help members meet their financial needs.

Card Services: MasterCard credit cards and MasterCard debit cards for convenient purchasing power and account access.

Digital Banking: Virtual Branch online banking platform that allows members to access account history, transfer funds, make loan payments, access lines of credit, and view check images 24/7 from any location.

Direct Deposit: Members can arrange direct deposit of payroll and other recurring deposits for convenient account funding.

The credit union maintains lobby hours Monday through Thursday from 8:30 AM to 4:30 PM and Friday from 8:30 AM to 1:00 PM and 2:00 PM to 4:30 PM. Drive-through service is available with extended hours until 5:00 PM.

Question 6

What makes Texas MOPAC Employees Credit Union (MOPAC Employees CU) unique?

Accepted Answer

Texas MOPAC Employees Credit Union stands out for its specialized focus on the railroad industry and its deep-rooted history serving railroad workers since 1936. The credit union understands the unique financial needs and work schedules of railroad employees, including those who work irregular hours or are frequently away from home.

The credit union's inclusive family membership policy allows anyone related by blood or marriage to join, creating a multigenerational financial cooperative. This approach has helped the credit union maintain steady membership growth, with a 2.2% increase in members over the past year.

With a strong net worth ratio of 10.03% and "Well Capitalized" status, the credit union demonstrates financial stability while maintaining a loan-to-share ratio of 98.7%, indicating active lending to support member financial needs. The credit union employs six full-time and one part-time staff member, providing personalized service to its 2,374 members.

Question 7

What type of financial institution is Texas MOPAC Employees Credit Union (MOPAC Employees CU)?

Accepted Answer

Texas MOPAC Employees Credit Union is a federal credit union chartered and regulated by the National Credit Union Administration (NCUA). As a federal credit union, it operates under a federal charter and member deposits are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF).

The credit union has a "multiple common bond" membership type, primarily serving the transportation industry. This means membership is restricted to individuals who share a common bond through their employment with specific railroad companies (Union Pacific Railroad and Texas State Railroad) or through family relationships with existing members.

As a not-for-profit financial cooperative, the credit union is owned by its members, who elect a volunteer board of directors. Profits are returned to members in the form of competitive dividend rates on deposits, lower loan rates, and reduced fees rather than being distributed to outside shareholders.

Texas MOPAC Employees Credit Union (MOPAC Employees CU)

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About Texas MOPAC Employees Credit Union (MOPAC Employees CU) in the United States