Gulf CU - Information Desk

A credit union is a not-for-profit financial cooperative owned and operated by its members. The members pool their financial assets to provide funds for loans to themselves and their fellow members. In addition, the credit union offers a wide variety of financial services.

As a cooperative, a credit union is unique in the financial world. Credit unions exist to serve their members. The credit union, owned and directed by its members, is dedicated to the credit union philosophy of "People helping People". Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends and improved member services at rates frequently more favorable than those available at banks.

Gulf Credit Union is member-owned and committed to providing the best possible services that adhere to the changing needs of the membership. We believe in sound and honest business practices, and we never lose sight of "People helping People".

In December 1939, in a dusty parking lot at Gulf Oil, nine people with a vision and a desire to bring financial opportunities to people, who alone could not afford such an opportunity, met to form Gulf Credit Union. The vision was to provide financial security, low cost loans, and reasonable rates of return on savings through a nonprofit organization. There were initially 440 shares subscribed. Within thirty days, there were 2,273 shares purchased. While we are very proud of our past, we've come a long way.

Today, Gulf Credit Union serves over 26,600 members, with more than $154 million in assets, a branch location in Beaumont, and a large ATM network. For over 65 years, we have consistently provided quality and secure financial services to our members. We are proud of our past and excited about our future. Our commitment is to provide personalized, caring service to our members.

As a nonprofit cooperative, GCU offers membership "shares" to you in the form of savings deposits. The earnings on your savings are called dividends (interest). Based on the credit union principle of equality, each member has one vote, regardless of the balance (or number of shares) in his or her savings account.

Once you join GCU, you can remain a member for life, even if you change jobs or move away. That way, you and your family members can continue to enjoy the benefits of a credit union membership.

Your family members are also encouraged to join GCU. The "member of the family" definition includes:

Parent
Grandparent
Great Grandparent
Brother
Sister
Stepbrother
Stepsister

Stepmother
Stepfather
Mother-in-Law
Father-in-Law
Brother-in-Law
Sister-in-Law
Daughter-in-Law

Son-in-Law
Uncle
Aunt
Nephew
Niece
Cousin
Daughter-in-Law

The "member of the family" definition also applies for children for which a credit union member is the legal guardian, and people who regularly live with a member and who share joint financial responsibilities with that member.

It's simple! If you live or work in Jefferson, Hardin, or Orange County you may join Gulf Credit Union. To join GCU, you must first open a regular savings account with a deposit of $25.00, immediately you are considered a member and are eligible to take advantage of all the services offered by GCU. Once you've completed the membership agreement, make a check payable to yourself for $25.00 (an additional $50.00 if you're also opening a share draft account), make photocopies of two IDs (preferably a driver's license and work ID), and return everything to GCU. You can bring the membership agreement to our Main Office in Groves or our Beaumont or Bridge City Branch or mail it to us. Sign up today and experience first-hand why credit unions are becoming stronger and more popular than banks.