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SMART FINANCIAL AND TDECU
Two Legacies,
One Vision.
Legacies Reimagined. A Future of Possibilities.
Smart Financial Credit Union and Texas Dow Employees Credit Union (TDECU) have entered into serious discussions regarding a potential merger that would unite two of the strongest and most innovative credit unions serving the Houston area. Pending regulatory and membership approval, this merger would allow the combined credit union to provide unparalleled service and technology to over 450,000 members with access to 48 convenient branch locations, giving those members more power over their money and financial futures. Members would not only enjoy access to more branches and ATM's but would get the benefits of expanded services such as wealth management and retirement planning. By combining resources and expertise, this union aims to create greater financial strength and long-term stability while maintaining our commitment to our Members.
What Members Can Expect
If regulatory approval is obtained, eligible Smart Financial members will have the opportunity to vote on the proposed merger. Members can expect to receive communication regarding the voting process in early December and are encouraged to make sure their contact information is up to date in the interim. In an effort to provide as much detail as possible, the FAQ’s on this page will continuously be updated to provide the latest information on what this merger means for our members.
For now, members can continue to enjoy all the products and services they rely on without disruption and there will be no immediate changes to accounts. If the merger is approved, Smart Financial will provide clear updates well in advance of any changes that may affect accounts, products, or services.
Smart Financial members interested in learning more about TDECU’s services should visit TDECU.org.
Questions & Answers
Why are Smart Financial Credit Union and TDECU proposing a merger?
In an increasingly competitive financial services environment, this potential merger would combine the assets and expertise of two of Houston’s most established and respected credit unions into an incredibly strong, member-centric institution positioned to help membership of both organizations achieve success along their financial journey. Our shared values and mission alignment will allow us to do more to help our members thrive and to make investments in our community with expanded resources for financial literacy education promoting the strength and stability of our area’s young people.
Will the credit union's name change?
Nothing will change in the near future as name and branding decisions will be made after full approval of the merger is obtained.
What happens to the employees at Smart Financial?
The proposed merger prioritizes employee retention and career growth opportunities. The goal is for all Smart Financial employees to remain with the combined organization. Smart Financial brings a strong technology infrastructure that we plan to retain and leverage across the combined credit union which will also rely heavily on the experience and knowledge of our employees. Their insight will be instrumental in leading future enhancements and ensuring a smooth transition for our members.
What if I also have a membership with TDECU?
If you have a membership with TDECU, you can continue to enjoy all their products and services without disruption and there will be no immediate changes to your accounts. Once the merger is finalized, there will be a process by which your membership will be combined. At that time, TDECU and Smart Financial will provide clear updates well in advance of any changes that may affect accounts, products, or services.
Will I be able to conduct transactions at TDECU branches upon merger approval?
In the initial stages, members will continue to perform all banking transactions at their legacy credit unions—TDECU or Smart Financial.
Will any Smart Financial Credit Union Branches close as part of this merger?
No, there are no immediate plans or intentions to close any branches as part of this merger. We will continue operating Smart Financial Credit Union’s 13 retail locations, which align to TDECU’s Member Center footprint, allowing us to serve more Members and Communities.
Will certain Smart Financial employees receive additional compensation or benefits related to the merger?
Yes. Smart Financial employees may receive pay adjustments for the scale of a much larger credit union. The CEO will also receive compensation in accordance with the termination provisions in the CEO employment contract with the Board of Directors. These arrangements honor contractual commitments and reflect industry-standard practices for retaining key talent or compensating them fairly upon retirement or transition.
Will these employee arrangements affect credit union finances or member services?
No. Both Smart Financial and TDECU have performed thorough financial evaluations to ensure these arrangements fit within the merged organization’s strategic and financial framework. Member services, benefits, and fee structures will remain unaffected.
How will Smart Financial Members be engaged in the merger process?
Members will be actively engaged throughout the merger process. Over the next several months, we will notify members to ensure they are well-informed about any upcoming changes. Members will be invited to participate in a member vote to approve the integration, giving them the final voice in the decision-making process. This approach allowed members to be a part of shaping the future of their credit union.
Who is TDECU? Do they have a long history of serving communities like Smart Financial?
TDECU (Texas Dow Employees Credit Union) is the largest credit union in Houston and the fourth largest in Texas. It was founded in 1955 by employees of Dow Chemical Company in Lake Jackson, Texas, with a mission of “people helping people”. It has a strong tradition of community service, supporting initiatives in education, health, and economic development. In 2023, TDECU launched the TDECU Cares Foundation, which provides charitable grants, scholarships, and financial wellness programs. TDECU has also played a role in financial education, partnering with the University of Houston and securing naming rights for TDECU Stadium, home of the Houston Cougars football team.
What does this mean for my accounts/loans/online banking access?
The integration process between the credit unions will be complex and will take time to complete. For now, there is no immediate action required for Members. Your accounts, services, and online banking access remain unchanged. You should continue to perform all banking transactions at your legacy credit union and use your existing Member Centers or branches for any support you may need. Business operations will continue as usual, and we will continue to communicate updates.