What is the new name for Mobiloil Credit Union?

On October 2nd, Mobiloil Credit Union will officially switch names to Rave Financial . Changes in our signs, experience centers, products, online banking, and mobile app will take place over the next several months. There will be no significant impact to your existing relationship with us.

Where is Mobiloil Credit Union located?

MOBILOIL CREDIT UNION - Updated July 2024 - 15 Reviews - 1810 N Major Dr, Beaumont, Texas - Banks & Credit Unions - Phone Number - Yelp.

How big is Mobiloil Credit Union assets?

In 1959, the credit union changed its name to Mobiloil Federal Credit Union and again to Rave Financial in 2023. Rave Financial is now a community charter and currently has more than 75,000 members and assets exceeding $1 Billion .

Why is MobilOil changing their name?

It reflects the level of service we are committed to providing our members while setting us apart from the status quo. At Rave Financial, we strive to change lives. It's not just about tools and resources, it's about people. We see people for who they are, and meet them where they are.

Is credit union a local bank?

Credit unions are local and are organized to serve the interests of its membership. Credit unions are not-for-profit financial cooperatives, whose earnings are paid back to members in the form of higher savings rates and lower loan rates.

How many credit union companies are there in us?

There are 4,994 Credit Unions businesses in the US as of 2023, a decline of -0.6% from 2022. Has the number of Credit Unions businesses in the US grown or declined over the past 5 years? The number of businesses in the Credit Unions industry in the US has remained steady over the five years between 2018 - 2023.

Do wealthy people use credit unions?

Millionaires often spread their wealth across multiple accounts and financial institutions to maximize insurance coverage . This includes a mix of checking, savings and investment accounts, both in banks and credit unions.

How do credit unions make money?

Any income the credit union generates through interest, fees and loans is then used to fund community projects, reinvest into the organization or provide services that directly benefit members, like paying higher savings interest rates.

What's the difference between a bank and a credit union?

Banks are typically for-profit entities owned by shareholders who expect to earn dividends. Credit unions, on the other hand, are not-for-profit, member-owned cooperatives that are committed to the financial success of the individuals, families, and communities they serve.

Why did credit union change their name?

Some are driven by changes in ownership. Some, particularly credit unions, have changed to reflect new or expanded membership criteria . And some, well, because the Board or c-suite decided it was simply time for a re-brand.

Who did Nefcu merge with?

The two merged in 2023 following a close vote among Vermont State Employees Credit Union members. Now, the new branding has met pushback among former leadership.

What is DFCU official name?

In 2003, Dearborn Federal Credit Union becomes DFCU Financial to reflect an expansion of branches, services, and members beyond Dearborn.

What was the old name of together credit union?

About Together Credit Union | Together Credit Union, formerly known as Anheuser-Busch Employees' Credit Union, American Eagle Credit Union, and Purina Credit Union , strives to be a trusted financial partner, providing experiences that empowers members to live their best lives.

Mobiloil Credit Union - Credit Unions (2024)

Established in 1935, Mobiloil Credit Union is headquartered in Beaumont, Texas.

Main Address

P.o. Box 12849
Beaumont, TX 77726

Credit Union Details

Charter Number: 68735

Year Opened: 1935

Date Insured: January 4, 1971

Peer Group: Assets more than $500 million

Credit Union Type: State chartered, federally insured credit union (FISCU)

President of the Board: Gary Waldrop

Manager/CEO: John M. Doucet

Employees:284 full-time and 4 part-time employees

Members: 78,446 current members

Website

bankwithrave.com

Auto Loans

Number of New Vehicle Loans: 6,414

Number of Used Vehicle Loans: 8,928

Number of Total Vehicle Loans: 15,342

Amount of New Vehicle Loans: $201,330,010.00

Amount of Used Vehicle Loans: $205,556,706.00

Amount of Total Vehicle Loans: $406,886,716.00

Interest Rate of New Vehicle Loans: 5.00%

Interest Rate of Used Vehicle Loans: 5.00%

Number of Reportable Delinquent New Vehicle Loans: 47

Number of Reportable Delinquent Used Vehicle Loans: 90

Number of Total Reportable Delinquent Vehicle Loans: 137

Amount of Reportable Delinquent New Vehicle Loans: $1,141,614.00

Amount of Reportable Delinquent Used Vehicle Loans: $1,708,762.00

Amount of Total Reportable Delinquent Vehicle Loans: $2,850,376.00

Amount of New Vehicle Loans YTD Charge Offs: $380,184.00

Amount of Used Vehicle Loans YTD Charge Offs: $828,378.00

Amount of Total Vehicle Loans YTD Charge Offs: $1,208,562.00

Amount of New Vehicle Loans YTD Recoveries: $25,379.00

Amount of Used Vehicle Loans YTD Recoveries: $73,832.00

Amount of Total Vehicle Loans YTD Recoveries: $99,211.00

Consumer Vehicle Foreclosed and Repossessed Assets: $605,578.00

Branch Locations

Branch

Hours of Operation

Member Services

ATM

Drive Thru

Carroll Street Branch
2050 Carroll St
Beaumont, TX 77701
(409) 892-1111

Lobby Hours Mon-Thurs: 9:00AM - 5:30PM Fri: 9:00AM - 6:00PM Closed Saturdays Drive-Thru Hours Mon-Thurs: 8:00AM - 5:30PM Fri: 8:00AM - 6:00PM Closed Saturdays

Yes

Dayton Branch
999 Highway 146
Dayton, TX 77535
(409) 892-1111