Texas Dow Employees Credit Union
| Company type | Credit union |
|---|---|
| Industry | Financial services |
| Founded | 1954 |
| Headquarters | Lake Jackson , United States |
Area served | Texas |
Key people | Isaac Johnson (President & CEO) |
| Products | Checking and savings accounts, credit cards, IRAs, money management, mortgage lending, loans (auto, home equity, personal), insurance (life, health, auto, homeowners), liability coverage, workers’ compensation, investment and financial advisory services |
| Website | tdecu |
Texas Dow Employees Credit Union (TDECU) is a credit union based in Lake Jackson, Texas, managing 38 service points, which include 34 member centers. It stands as the largest credit union within the Greater Houston region and ranks fourth in size across Texas, supporting more than 372,000 members with assets valued at $4.7 billion as of April 2022. In 2014, TDECU acquired the naming rights for the University of Houston Cougars football stadium, now designated as TDECU Stadium.
History
TDECU was established in December 1954 by employees of Dow Chemical Company, receiving its charter that same month. The inaugural organizational meeting took place on January 3, 1955, in Freeport, Texas, initially restricting membership to employees of Dow and Ethyl-Dow and permitting deposits up to five dollars. By 1958, membership had grown to 780 individuals with assets totaling $210,000; by 1971, it expanded to 8,500 members holding assets over $7.5 million. As of April 2022, the credit union's membership exceeded 366,000 with assets reaching $4.5 billion.
In December 2011, TDECU formed TDECU Holdings to manage its subsidiaries, including TDECU Insurance, Wealth Advisors, Real Estate, and Century Oaks Title. Timothy D. Belton was appointed as president and CEO of TDECU Holdings. Stephanie Sherrodd succeeded Edward Speed as president and CEO of TDECU in October 2012; Speed had served since 2003. Isaac Johnson assumed the role of President & CEO in June 2021.
TDECU Stadium
In July 2014, a naming rights agreement was finalized between the University of Houston and TDECU, resulting in the rebranding of the Houston Cougars’ new football stadium with a seating capacity of 40,000 as TDECU Stadium. TDECU committed $15 million over a decade for these rights, ranking the deal as the third highest-valued naming rights contract among NCAA venues at that time. The contract extends through June 16, 2024, with an option for mutual renewal for an additional five years at $7.5 million. This sponsorship represented TDECU's initial major corporate involvement in sports venue naming rights and complements earlier partnerships with the Texas Bowl, Sugar Land Skeeters, and the Houston Livestock Show and Rodeo.
Locations
TDECU’s headquarters are located in Lake Jackson, Texas. The credit union operates an additional 40 branches throughout Texas in significant markets such as Angleton, Bay City, Baytown, Dallas, Fort Worth, Houston, Katy, Missouri City, Pasadena, Pearland, Sugar Land, and Victoria.
Services
The credit union provides a broad spectrum of financial products and services designed to meet both individual and business requirements:
- Checking and savings accounts
- Credit card offerings
- Individual retirement accounts (IRAs)
- Money management solutions
- Mortgage lending and associated services
- Loans including auto, home equity, and personal financing
- Insurance products covering life, health, auto, and homeowners policies
- Liability coverage and workers’ compensation insurance
- Investment options and financial advisory services
Mergers and acquisitions
TDECU’s expansion strategy incorporates significant mergers and acquisitions: merging with Bluebonnet Credit Union of Houston in 2011; acquiring Associated Insurance Agency (Houston), Assurance Insurance Agency (Bellville), and Burridge Insurance Agency (Angleton) in 2012; purchasing seven branches from Hancock Bank in July 2013; acquiring FMC Technologies' employee credit union with 1,200 members in 2014; and partnering with James E. Bashaw & Co. that same year to broaden its wealth management offerings.