TDECU Continues to Grow in Greater Houston, Embraces Space City Through Strategic Merger

Houston, Texas, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Space City Credit Union is merging into TDECU, Houston’s largest not-for-profit financial institution. 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. Upon regulatory approval of the merger, TDECU will have nearly $5 billion in assets and close to 400,000 members and will adopt the brand name Space City Financial in the Greater Houston area including Harris and Brazoria Counties.

“We will unite our strengths and offer our Members even more robust products, services, and technological investments. Together, we will be one organization, fully committed to enhancing the member experience and continuing to grow in ways that benefit the communities we serve,” Johnson said. “I am thrilled to lead the combined organization as we officially merge with a financially strong credit union that shares our vision and our values.”

TDECU Members and Space City Credit Union Members should continue to conduct their business as usual. There will be no change to their accounts or banking experience. The transaction is anticipated to be completed later this year, subject to receiving all regulatory approvals and other closing conditions. Changes will not take place before the first quarter of 2025.

A strong performing credit union with a rich local history

Originally chartered by a handful of employees in 1965 as Stewart & Stevenson Credit Union, Space City Credit Union has $140 million in assets and serves over 12,500 members who live and work in Harris and Brazoria Counties.

“We are excited about this combination with TDECU, and that the Space City brand will expand in the greater Houston area,” said Craig Rohden, President and CEO of Space City Credit Union. “We share a deep commitment to empowering our members and their families to build brighter financial futures. Given TDECU’s size and reach, this merger allows us to offer even more comprehensive services and innovative financial solutions that not only meet the needs of our current Members but also position us to serve their families well into the future.”

Members can learn more by visiting TDECU.org/tdecu-and-space-city or SpaceCityCU.com/merger/ or calling (800) 839-1154

About TDECU | Founded in 1955, TDECU is a not-for-profit financial cooperative with more than 376,000 Members and over $4.8 billion in assets. TDECU currently has 39 service locations, including 35 Member Centers, and offers a complete selection of convenient, innovative, and competitive products and services, including a full suite of deposit products as well as mortgage, auto and personal loan products, online and mobile banking. TDECU also offers, through its subsidiaries, retirement planning and wealth management, personal and business insurance products. Members can also access a worldwide network of over 55,000 surcharge-free ATMs. For more information visit tdecu.org or call (800) 839-1154.

About Space City Credit Union | Originally chartered by a handful of employees in 1965 as Stewart & Stevenson Credit Union, Space City Credit Union has grown to over $140M in assets and serves members who live and work in Harris and Brazoria Counties. Space City CU has engaged in several mergers which allowed us to grow and add members and branches, further enhancing our ability to serve our members

Mike O'Neill TDECU 3469014982 moneill@tdecu.org