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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,” company officials announced this week.

Mobiloil Credit Union is changing its name to Rave Financial and begins its transformation in October.

Founded in 1935 in Beaumont, 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 Jefferson, Orange and Hardin 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 launched new mobile and online banking platforms, opened two branches, one in Dayton and one in Woodville, and will open two more in the North Houston metro area in 2024.