Become a Member

Become a member of GENCO Federal Credit Union

Membership begins by opening a savings account with a minimum balance of $5.
If you live or work in McLennan or Angelina counties, you can join GENCO Federal Credit Union.
Certain family members of GENCO members are also eligible to join. These include: spouses, children, parents, brothers and sisters, stepchildren and stepparents and your grandchildren and grandparents.


If you live/work in McLennan or Angelina county, you can join GENCO Federal Credit Union!

Certain family members of GENCO members are also eligible to join. These include: spouses, children, parents, brothers and sisters, stepchildren and stepparents and your grandchildren and grandparents.

For more information about GENCO membership, please call (254) 776-9550 or (800) 922-6428.
Please fill out the fields on our application to open your new account. One of our representatives will contact you within one business day to complete the process.

Please be prepared to present the following documentation when you first visit us to complete the opening of your new account.

U. S. Citizens must present the following 3 items:
  1. Valid State Driver’s License or State ID Card or Valid U. S. Passport
  2. Social Security Card
  3. Proof of Residence – Ex. -Utility Bill
** Non-U. S. Citizens (Resident Aliens and Non-Resident Aliens) that have a lawful presence in the U. S. must present the above three documents plus their Resident/Non-Resident Alien Cards.

You may submit your application to us online, in person or in our drive-thru. You may also return it to us via mail to:
P.O. Box 7246
Waco, Texas 76714
GENCO Membership
GENCO members enjoy lower rates on loans and fewer fees because we’re not for profit, but for service. We don’t have stockholders controlling what happens. Any profits we do make get reinvested right back into GENCO, so we can keep saving people money and enhancing our services. We also give back to educational and other non-profit organizations in the communities where our customers live and work.

We’ve been in business since 1953, so you know you’re working with a stable, secure business that makes sound decisions in the best interest of our customers.

Who We Are
GENCO is a federally chartered financial cooperative and full-service financial institution dedicated to serving its members since 1953. Our goal is to develop long-term relationships and provide total financial solutions for our members, at every age and every stage of life. 

The GENCO Difference
Unlike other financial institutions whose purpose is to create profits for stockholders, GENCO is a financial cooperative, which means we exist to serve our member-owners.

GENCO earnings are returned to members via:
  • Lower loan rates
  • Higher savings yields
  • Lower fees
  • Expanded services (such as additional locations and convenient ATMs)
Whether you are just starting out in life or close to retirement, GENCO wants to be your total financial solution.

In today's hectic and hurried world, convenience is important to all of us. It is our goal to make your life easier. Through our network of branches, ATMs and innovative products and services we can assist you with all of your financial needs. 

Handling your finances shouldn't be difficult or time consuming. Let GENCO help simplify your life!

For more information about membership or products and services, call (800) 922-6428 or (254) 776-9550.
What is a credit union?
A credit union is a financial cooperative organized by people who have a common bond, such as employment at a specific company or residence/employment in a certain geographical location. As members of a credit union, people pool their assets, providing funds for loans to those in need within the membership. The members own the credit union, electing directors from among the membership. The principal function of credit unions is to encourage savings and thrift and provide consumers credit at favorable interest rates.

Credit Unions are regulated either by Federal or State law, depending upon the source from which the group receives its charter. GENCO Federal Credit Union is federally chartered and regulated by the National Credit Union Administration (NCUA). 

What is the difference between a credit union and a bank?
Credit unions are not-for-profit cooperatives, owned by members who save and borrow there. They exist solely to serve those members, with no stockholders or bank holding companies to enrich. In addition to being an owner, each credit union member, regardless of how much he or she has on deposit, has an equal vote in elections. 

Credit unions are also tax-exempt. The benefits of our tax-exempt status as a not-for-profit cooperative are returned to members in the form of higher rates on savings, lower fees and lower loan rates. Banks are for-profit institutions run by officers and directors who are legally bound to make decisions in the best interest of the stockholders.

While directors of banks customarily receive director fees, per diem, stock options, and other perks, members of credit union boards and committees are truly volunteers: they receive no compensation for their service and commitment. Banks are run by officers and directors chosen by owners, stockholders, and bank holding companies, some of which are located in other parts of the state or country.

What’s a Credit Union?
A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis. The board also establishes and revises policy and sets dividend and loan rates. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit. 

Who owns a credit union? 
Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn't operate in that manner. Rather, each credit union member owns one "share" of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors. 

How did credit unions start?
The first credit union cooperatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary's Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member. 

What is the purpose of a credit union?
The primary purpose in furthering their goal of service is to encourage members to save money. Another purpose is to offer loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.

Are savings deposits insured?
Yes. All savings accounts are insured up to $250,000 by the NCUA, the National Credit Union Administration, an agency of the federal government. 

Who can join a credit union?
A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a "field of membership." The field of membership may include where they live, where they work, or their membership in a social or economic group. 

I want to: Apply for a credit card

You can count on security, convenience and rewards with our Classic and Platinum MasterCards. Rates as low as 8.9% APR*  (7.9% APR* if shared secured) *Annual Percentage Rate