Beaumont, Texas-based Mobiloil Credit Union is changing its name and brand identity as part of a strategic initiative to differentiate and disrupt the Southeast Texas financial services competitive landscape. Mobiloil Credit Union will change its name to Rave Financial and begin its transformation in October 2023.
Founded in 1935 in Beaumont, Texas, Magnolia Employees Beaumont Texas Federal Credit Union, now known as Mobiloil Credit Union, exclusively served employees and their families of the Magnolia Beaumont Refinery. In 2002, Mobiloil Credit Union converted to a community charter, expanding its membership to those who lived, worked, worshiped or attended school in Hardin, Jefferson, and Orange counties.
Through the years, the number of counties increased, and in 2022, Mobiloil Credit Union converted to a state charter.
“Although being open to the community has helped our growth over the past 20 years, our name was polarizing and created confusion. Too often we were mistaken as a credit union that served only Mobiloil Refinery workers and their families,” said John Doucet, President and CEO of Mobiloil Credit Union. “We believe our new name is more approachable and conveys that we are open to the broader community. Our new name and brand will reflect our history, legacy, and philosophy of providing raving fan service to our membership. All with a big dose of personality, authenticity and grit.”
Mobiloil Credit Union collaborated with Strum Agency to reimagine the name and brand of the credit union.
“We are so pleased to have a great partner like Strum Agency to collaborate with,” said Cody Buchholz, Chief Marketing Officer for Mobiloil Credit Union. “We wanted to reach for an evergreen name that will help us grow toward our future and evoke inclusivity while representing our dedication to creating raving fans through exceptional service. Our new name and brand is bold, innovative, and youthful.”
In the past 24 months, as part of a strategic investment in the credit union, Mobiloil Credit Union has launched new Mobile and Online Banking Platforms, opened two new branches, one in Dayton and one in Woodville, and will open two more in the North Houston metro area in 2024.
“This is an exciting time for our credit union. We are growing, innovating, and transforming. Our vision is to make Rave Financial the best place our members have ever banked, and we are dedicated to making our members’ financial dreams come true,” said Doucet.
About Mobiloil Credit Union
Mobiloil Credit Union is a member-owned not-for-profit financial institution serving Jefferson, Chambers, Hardin, Jasper, Liberty, Newton, Orange, Tyler, Galveston, Harris, Montgomery, San Jacinto, Polk, Angelina, San Augustine, and Sabine County. Mobiloil Credit Union provides financial products and services, including checking and savings accounts, auto loans, mortgage loans, credit cards, home equity loans, and financial planning. Established in 1935 as Magnolia Employees Beaumont Texas Federal Credit Union in Beaumont, Texas, Mobiloil Credit Union has grown from 5 employee members to more than 76,000 members and over $1 billion in assets. To learn more, visit mobiloilcu.org.