Texas CUs Vie For ExxonMobil Employees

- AUSTIN, Texas (01/07/00) - In a sign of apotential shake-out among the 20 credit unions serving ExxonMobil's125,000 employees, at least three state chartered credit unionshere have asked state regulators for permission to serve the 25,000ExxonMobil employees in Texas and their family members. The creditunions, 10 of which serve Exxon and 10 that serve Mobil, have beendiscussing possible collaborative efforts for several years andcurrently cooperate on some minor projects, such as sharedcheck-cashing privileges, but a consolidation has yet to be agreedto, Randall Dixon, president of Energy Capital CU, Houston, toldThe Credit Union Journal. Energy Capital, which currently servesExxon employees, and Dallas-based Pegasus CU, which serves Mobil,applied last month to the Texas CU Department to serve Texasemployees of the recently merged oil conglomerate, as has SouthwestResource CU in Baytown.