Mobiloil Federal Credit Union was chartered July 30, 1935 as Magnolia Employees Beaumont Texas Federal Credit Union. It was one of the first federal credit unions in Jefferson County. By year-end 1935, the new credit union had 700 members, assets of $10,000 and the potential for over 5000 members from its sponsor group, Magnolia Beaumont Refinery.
Mobiloil Credit Union is now a community charter and currently has more than 50,000 members and assets exceeding $700 million. Over the years, Mobiloil Credit Union has maintained a competitive position among other financial institutions while adhering strictly to the philosophy of "Not for Profit, Not for Charity, but for Service". Our members enjoy a wide range of products and services provided by the latest technology and, in most cases, lower loan interest rates and higher dividends as compared to other financial institutions.
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