TDECU Continues to Grow in Greater Houston

Frequently Asked Questions

Why is Space City Credit Union merging into TDECU?

We are committed to growing a brighter tomorrow for our Members and their families. This merger allows us to benefit from improved efficiency in operations, technological growth initiatives, and experienced management and operations teams who are committed to delivering a superior Member experience. Space City Credit Union was looking for a partner with shared values and mission that would continue to serve and grow with their members. They chose us to be that partner. This merger will unite two strong credit unions on an aligned path to success to better serve all our Members.

Who is Space City Credit Union?

Like TDECU, Space City Credit Union is a strong financial institution with deep roots in Harris and Brazoria counties. Originally chartered by a handful of employees in 1965 as Stewart & Stevenson Credit Union, Space City Credit Union has $140 million in assets, three branches, 43 employees and serves over 12,500 members who live and work in the communities we know and serve. They also share a deep commitment to investing in our communities through Space City Charities.

How will the merger affect TDECU Member accounts?

There will be no immediate change to Member accounts. Members can continue to enjoy all the relationships, products, and services that they rely on. For example, your credit cards and debit cards will continue to operate as usual. In the coming months, Members will learn more about the planned integration and impacts to their accounts, if any.

Does the merger require a TDECU Member vote?

TDECU is a credit union that considers our Members in everything we do. Our Members elect our Board of Directors and our Board is committed to making decisions that are in the best interest of the credit union and its Members. When two credit unions merge, the members of the credit union that’s joining us get to vote because they’re deciding whether or not they want to become part of our credit union. Specific to the merger with Space City Credit Union, no vote is needed because we’re staying as the continuing credit union and the day-to-day operations, leadership, policies and your membership benefits will continue.

What if I also have an account with Space City Credit Union?

No changes will occur at this time. We will keep you well informed through every step of this transition. You can expect to receive regular updates from both organizations to make the transition as smooth as possible. Please continue to enjoy your experience with both organizations.

What will the organization be called?

As part of the merger, TDECU will acquire the Space City brand, and we will operate in the Greater Houston area including Brazoria County as Space City Financial.

Who will lead the combined organization?

Upon regulatory approval, TDECU President and CEO Isaac Johnson will lead the new organization in this next chapter. After growing and leading the organization for 30 years, Space City Credit Union’s President and CEO, Craig Rohden, will retire. The new organization will have nearly $5 billion in assets, and nearly 400,000 members.

Does this mean TDECU as a name will go away?

No, TDECU will continue to be the legal name of the organization.

If SCCU is merging into TDECU, why are we changing our name?

The name change reflects a broader strategy which signals a new chapter and direction for the combined organization. While SCCU may be merging into TDECU, the decision to change the name is tied to a vision of evolving beyond the legacy of both entities, creating a unified brand that can better represent the combined strengths of our two organizations. Being anchored in Greater Houston and Brazoria Counties, Space City carries significant meaning. It's an opportunity to clarify our organization’s purpose and stand out in a competitive market while aligning with our goals to improve efficiency, visibility, and member experience.

When will the merger take place?

The deal is anticipated to be completed later this year, subject to receiving all regulatory approvals and other closing conditions. Any brand change would happen after approval. No sooner than the first quarter of 2025.

Does "Financial” mean that we will no longer be a Credit Union?

We will still maintain our core values and be a credit union in every sense of the word. We believe having “financial” in our name allows us to quickly communicate the full scope of  services, products and expertise, and enhances our position in an increasingly competitive financial services landscape.

Is Space City Credit Union experiencing any financial challenges?

No. Space City Credit Union and TDECU are both financially strong organizations. The current market offers opportunities for strategic consolidation, and by combining our capital and resources, we can better serve our Members and enhance the benefits we provide.

Will any Space City Credit Union Branches close as part of this merger?

No, we will continue operating Space City Credit Union’s three retail locations, which align with our current Member Center Footprint, allowing us to serve more Members and Communities.

How does this relate to the pending partnership with Sabine State Bank and Trust?

Both deals align with our growth strategy by expanding our reach and enhancing our product offerings. In both cases, Members will not experience any changes until further notice.