Water Rails & Oil - Historic Mid & South Jefferson County

Ferrett was named president. His focus was on
marketing, member services and increased
production. Changes included cash dispensing
machines, a new loan origination system, staff
training, investment services and insurance. The
board approved indirect lending through
local car dealerships, first in partnership with
CUNA Mutual and Western Diversified, and
later independently.
Internal restructuring and staff additions,
including a marketing director and an experienced
collection manager, improved overall operations.
In 1996 the first TFCU branch opened on Dowlen
Road in Beaumont. Other changes included a loan
phone center, VISA Check Card and in-house
intercept process system.
This was the first credit union in its chapter
offering eCommerce Home Banking and Bill
Payer services, and also provided a security
firewall, real-time intrusion detection, and
online check imaging.
In 1999, the credit union converted to a
community charter and opened membership to
all of Jefferson, Hardin and Orange Counties,
and led to opening of a Lumberton branch.
Service improvements have included a
convenient line of credit loan, emphasis on sales
in staff training, eStatements, and much more.
The community charter was expanded in 2002,
adding Jasper and Newton Counties to the
membership field. A dedicated mortgage
department focuses on in-house first lien
mortgages and home equity loans.
In 2003, Erik M. Shaw was promoted to
CEO/president, and a senior management team
was established with four senior vice presidents,
each over a division—lending, operations,
accounting/information technology, and human
resources. Re-branding of the credit union was
discussed for more than a year before its final
approval by the board, with the name changing to
FivePoint Credit Union. The board of directors also
approved two new stores, in Nederland and Bridge
City, and began twenty-four-hour loans-by-phone
service in a joint venture with CUNA and Appro
Systems. The Port Arthur store employees were
relocated to improve convenience to members, and
additional staff training sessions began.
When Hurricane Rita hit Port Arthur on
September 24, 2005, the main office suffered
significant damage. Alternate facilities were
operational October 5, drive-through lanes
opened October 7, and Bridge City and
Lumberton stores followed a few days later. A
redesigned Port Arthur store was reopened to
the public in August 2007 and the grand reopening
of the Port Arthur store was celebrated
on September 24, 2007, on the two year
anniversary of Hurricane Rita.
FivePoint Credit Union, “America’s Financial
Convenience Store.” For additional information
about FivePoint Credit Union, please visit
www.5pointcu.org.
Sharing the Heritage ✦ 73