Fort Worth, Texas — According to state and local development sources, Carter Credit Union plans to invest $2,500,000.00 to build out 2,000 square feet of new space in Fort Worth. The company plans to occupy the new space at Victoria Drive in Fort Worth, on or about May 1, 2026. According to the company website Carter Federals beginnings date back to 1954, when Floyd Carter chartered the credit union to serve the employees of International Paper Company in Springhill, Louisiana. As paymaster of International Paper, Floyd Carter witnessed predatory lending practices within his own workplace, and made a commitment to seek a safe way for employees to borrow and save money. Mr. Carter was a true credit union pioneer. His mission was to form a financial cooperative based on the premise of people helping people. Carter Federal Credit Union was chartered for the purpose of improving the financial well-being of its members. This tradition continues today, many years after Mr. Carters pioneering efforts. Carter Federal Credit Union is unique among credit unions in the United States as it continues to carry the name of its founder. Carter Federal continued to operate on-site at International Paper until 1979 when the paper mill closed. Moving to a new location was the beginning of a new period of growth for the Credit Union. The 1980s were marked by expansion and increasing operations. New locations in Shreveport, Mansfield, and Monroe, Louisiana were opened by acquisition of other credit unions through merger. In 1989, three major companies in Magnolia, Arkansas joined the field of membership and a fifth office was opened in Magnolia. By 2005 the credit union industry was faced with unprecedented challenges as the national unemployment rate reached record highs. Another milestone in the Credit Unions history occurred that year when the Board of Directors recruited James P. Gibson to become President and CEO. Under his leadership, Carter Federal has continued its tradition of service to its members, and has experienced tremendous growth, doubling its asset size in only five years. Mr. Gibson retired in August of 2014, and the Board of Directors appointed Joe Arnold as President and CEO.

To learn more about Carter Credit Union, visit http://www.cartercu.org/

Company Contact:
Joe Arnold, Chief Executive Officer
318-864-9964

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