SPCO Merger FAQs

We’re glad that you are already using both credit unions for your financial needs. Once the conversion is completed on November 2, 2024, you’ll have all your accounts in one place under one membership, which should be easier to manage.

If you have accounts with both credit unions, your accounts with SPCO continue to be insured separately from the share deposits of First Service for six months after the date of the merger or, in the case of a share certificate, the earliest maturity date after the six-month period. In the case of a share certificate that matures within the six-month grace period that is renewed at the same dollar amount, either with or without accrued dividends having been added to the principal amount, and for the same term as the original share certificate, the separate insurance applies to the renewed share certificate until the first maturity date after the six-month period. A share certificate that matures within the six-month grace period that is renewed on any other basis, or that is not renewed, is separately insured only until the end of the six-month grace period.

Effective September 1, 2024, your membership will be transitioned to First Service Credit Union. You will then be a member-owner of First Service, granting you the same benefits of membership as you had with SPCO Credit Union.

Your account number will remain unchanged until all SPCO accounts are migrated to the First Service core processing system. Your First Service Credit Union Welcome Kit arriving in early October will outline any account number changes.

Many First Service branches are already open to SPCO members for basic services through the Co-op Shared Branch network. Beginning November 4, 2024, you can complete any transaction at any of the 12 public-access First Service branches and over 20 ATMs throughout the Houston area.

For now, you can conduct basic services through the Co-op Shared Branch network at most First Service branches. Starting November 4, 2024, you will be able to conduct all transactions at any of the 12 public-access First Service branches (plus one restricted access branch if you are an STP employee and one restricted access branch if you are a Shell employee). This will include updating contact info, adding new accountholders, opening or closing accounts or loans, IRA transactions, and instant issue of debit and credit cards.

You will also be able to visit any of the more than 5,000 shared credit union branches available through the CO-OP network. Please note that you will need to continue providing your credit union as SPCO Credit Union until the operational conversion is complete on November 4, 2024.

You can find your nearest location on our Branches and ATMs page.

First Service has a total of 14 branches and over 20 ATMs in Katy, the Energy Corridor, Sugar Land, The Woodlands, Jersey Village, Spring Cypress, Atascocita, and more. You can see all of these locations on our Branches and ATMs page.

Absolutely. The branch at 12755 N. Houston-Rosslyn Rd. will remain open under the First Service Credit Union name beginning on September 1, 2024. While the hours could change to accommodate our members better, rest assured that branch access will stay, ensuring you can continue to bank with us as you always have.

Yes. Please note that you will have to re-register, and your first transaction may be subject to review.

For now, you can continue to log in to Digital Banking at spcocu.org. The look of Digital Banking will change slightly after the merger on September 1, 2024, when we are officially part of First Service, but all functionality will remain the same.

Once the full system conversion is complete on November 2, 2024, members will access their accounts using the new First Service Digital Banking platform, which will include some additional features and require some account setting and transfers to be re-established. More information will be coming soon about this transition.

After the merger on September 1, 2024, the look of the mobile app will change slightly, when we become part of First Service, but all functionality will remain the same. Once the system conversion is complete on November 2, 2024, the mobile app will change to the new First Service platform. At that time, you will need to download the new app on your phone or tablet. You can download the app here.

Yes, beginning November 2, 2024, the SPCO Credit Union website will be redirected to the First Service website (FSCU.com).

Existing SPCO Members will continue to use the same loan application until the system conversion is completed on November 2, 2024. They can also stop by a branch or reach out to the contact center.

SPCO Loan Application

For now, you can continue to pay your SPCO Credit Union loans as usual.
Beginning November 4, 2024, you will need to re-register for Digital Banking, and any automatic payments previously set up through Digital Banking will not transfer over. You will have to set them up again on or after November 4, 2024. After this date, any loan payments via mail should be sent to this address:

First Service Credit Union
P.O. Box 941914
Houston, TX 77094

You will continue to pay interest on loans at the rate on your original loan document. Credit cards will be transitioned to similar First Service credit card products, which may have different interest rates. More communication will be provided to credit card holders about these changes.

If you already have a loan through the SPCO Credit Union partnership with Member Home Loan, your loan will continue to be serviced by Member Home Loan, and it will not be transferred anywhere. You can continue to make payments and contact their team as usual. If you wish to get a new mortgage, First Service’s in-house mortgage team will be available to assist with all of your needs.

If you have any joint owners on your account, authorized signers on a credit card, or co-borrowers on a loan, these will all stay the same after the conversion.

Yes. Credit Union deposits will continue to be federally insured by the National Credit Union Administration (NCUA), meaning you will still have up to $250,000 in protection for an individual membership. The NCUA provides additional, separate insurance coverage for deposits in different ownership categories, such as individual accounts, joint tenancy accounts, Individual Retirement Accounts (IRAs), and trust accounts. Please note that if you have accounts with both credit unions, your accounts with SPCO continue to be insured separately from the share deposits of First Service for six months after the date of the merger or, in the case of a share certificate, the earliest maturity date after the six-month period. In the case of a share certificate that matures within the six-month grace period that is renewed at the same dollar amount, either with or without accrued dividends having been added to the principal amount, and for the same term as the original share certificate, the separate insurance applies to the renewed share certificate until the first maturity date after the six-month period. A share certificate that matures within the six-month grace period that is renewed on any other basis, or that is not renewed, is separately insured only until the end of the six-month grace period.

All of your existing share accounts and loans will remain open. On November 2, 2024, some members’ products will be converted to similar products with First Service, and more details will be communicated soon.

Most loan payment due dates will not change, but credit card payments will be adjusted to all be due on the 24th of each month. More communication will be provided to credit card holders about these changes.

If you previously had an ATM card, you will be issued a Visa® debit card with contactless payment technology in mid-October. Please keep an eye out for this card sent to the mailing address you have on file.

You can continue to use your SPCO debit or credit card for now. You will be mailed new First Service credit and/or debit cards by mid-October. Please keep an eye out for your card sent to the mailing address you have on file. You can activate and begin using your card by November 2, 2024. On November 2, your old card number will no longer work, so you should also update any recurring payments with your new card.

When you activate your new debit card, you will be prompted to set up your PIN, which can be the same PIN that you have been using.

If you are to receive Forms 1098, 1099-C, 1099-INT, 1042-S, 1099-R, 1099-SA, 1099-Q, or Fair Market Value Statements for 2024 from the credit union, you will receive them from First Service for the entire year of 2024. Any Forms 1098, 1099-C, 1099-INT, and 1042-S will be sent to you according to your statement preferences, and Forms 1099-R, 1099-SA, 1099-Q, and Fair Market Value Statements will be mailed to your primary address on file. You will receive these in early 2025.

Statement records are available within Digital Banking for 24 rolling months, and you may contact us for any additional statement records. Copies of past statements can be obtained at a cost of $5 per statement by calling our Contact Center or coming into a branch.

Beginning November 2, 2024, you may order new checks by logging in to First Service Digital Banking at FSCU.com or calling 713-676-7777.

Any existing credit life and credit disability insurance on most loans will stay in place according to your original loan agreement until the loan is paid off. Members who will have changes to their credit life and credit disability insurance will receive additional communication in September.

Any existing mechanical breakdown protection (MBP) or guaranteed asset protection (GAP) coverage on your loans will stay in place according to your original loan agreement until the loan is paid off.

No, you will not need to update these, as your loans will continue to be serviced by Member Home Loan.