DATCU is Investing in the Lake Cities
It’s the first anniversary of the new DATCU headquarters opening on I-35 in Corinth.
It’s hard to believe that when they opened their doors over 80 years ago, they were a small credit union for teachers. Today they are over 89,000 members strong and ranked in the top 5% of Federally Insured Credit Unions nationwide.
What makes DATCU so successful? One word: investing. Investing in its members, its staff and its community.
“As a credit union, we’re built around the community,” said Glen McKenzie, President/CEO of DATCU. “The core of our members are teachers, policemen, firemen, and city or county employees. Some people still think our membership is for teachers only, but that hasn’t been the case for a long time. We’re a community chartered credit union and that means if someone lives here or works here, they are eligible to join the credit union.”
Like banks and other financial institutions, DATCU offers all types of loans, CDs, IRAs, credit cards and other services including insurance and retirement planning/wealth management. They provide checking, savings and money market accounts as well as help small businesses like individual sole proprietorships, get started. As a credit union DATCU is not-for-profit and is owned by its members. Profits come back to the members in the form of better rates, higher yields, free services, and bonus dividends. In 2016, DATCU paid out over $3.4 million in a bonus dividend.
“A lot of people look at DATCU and they think we’re a small hometown place,”
said McKenzie. “While we’re local and small enough to care, the truth is that we’re a sophisticated financial institution with the latest advancements in technology,” said McKenzie.
When they open their new Corinth branch this month, they will have eleven branches throughout Denton and Wise counties. DATCU is also a part of the AllPoint Network with over 55,000 ATM locations giving their members worldwide access to their money. The network is free to their MVP members with no additional cost to use this global ATM Network.
Most employees build their careers at DATCU. The CFO started as a drive-thru teller. The COO started as a loan officer. The CIO started as a network administrator. Including McKenzie, the Executive Management Team has been with DATCU an average tenure of 16 years, having worked from “shop floor to top floor” and understand the day to day challenges that face their employees.
“We believe in leading and training while growing our team members into new positions and long-term careers” stated McKenzie.
DATCU also encourages all employees to become involved in the community. The staff serves on the Boards of Directors of HSNT (Health Services North Texas), Heroes of Denton County, United Way of Denton County, Serve Denton, Communities in Schools of North Texas, and civic organizations like rotary clubs and more. Even the Mayor of Corinth, Bill Heidemann, works for the Credit Union.
“We want to be connected to the local charities and organizations in the community so all of our employees are involved,” said McKenzie. “It’s just part of our culture and how we do things.”
Now DATCU is investing in the Lake Cities. After many years in Denton, DATCU chose to build its new headquarters in Corinth, purchasing additional land around the building for the growth they see coming in the future.
“Corinth is right in the middle of our geographic footprint so it was the right decision for us”, McKenzie said.
Shortly, they will open their new branch location in Corinth. Keeping with tradition, DATCU will be promoting popular Assistant Branch Manager, Staci Wallace, as the new branch manager.
“We’re a relationship-oriented organization,” said McKenzie. “It’s not unusual for a member to visit another branch just to see his/her favorite DATCU employee, who has been relocated and promoted to another position. I fully expect some members to visit the new Corinth location for just this reason.”
McKenzie emphasized how excited DATCU is to invest in the Lake Cities area. As the Lake Cities grow, he sees DATCU also growing, all while maintaining that same sense of community and loyalty that has so well defined them as a credit union. He also looks forward to the day in the not so distant future when DATCU will have over $1B in assets.
“The majority of our members and employees live and work in the Denton County area so we’re happy to call this our home,” he said. “We want to be right here serving the Lake Cities for the next fifty plus years.”
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