Trading Places With An EnergyGiant
BEAUMONT, Texas - (05/18/06)- MobilOil FCU and its former corporatesponsor, ExxonMobil, have agreed to swap property to facilitate thecredit unions expansion. The $240 million credit union willgive the energy giant the branch outside the Exxon Mobil Refinerythat used to serve as the credit unions headquarters and inexchange receive a plot across the street where it will build a newbranch. ExxonMobil plans to tear down the old credit unionbuilding, which was damaged significantly by Hurricane Rita twoyears ago. The company will use the property to build a securitybuffer around the refinery. The credit union, which is now acommunity charter, will build a 2,100-foot branch which will servethe surrounding community at its new site. Even though the creditunion has expanded beyond the oil giant, officials plan to retainthe ExxonMobil name. The credit union moved into a new 30,000-footheadquarters nearby in January 2005.