News & Information
Gary Parker Inducted into the cornerstone hall of fame
Plano, Texas, April 05, 2024 – Cornerstone celebrated visionary leader, Gary D. Parker, as a recipient of a prestigious award for his exceptional contributions, support of and dedication to advancing the credit union movement. Parker was honored during Cornerstone’s IMPACT: Annual Meeting Conference on April 4 in Kansas City, Mo., along with other organization and individual award winners.
Parker was inducted into Cornerstone’s Hall of Fame, a lifetime achievement recognition created to honor those in the credit union movement who reflect a history of service to credit unions.
2024 Hall of Fame Inductee: Gary D. Parker With a career spanning four decades, Parker's journey embodies the spirit of service and leadership. Beginning as a part-time teller at Bison Federal Credit Union while still a teen, Parker soon became the youngest credit union manager in Oklahoma at the age of 20. After 14 years at Bison FCU, he led First Family Federal Credit Union and in 1996, took the helm at what is now 1st University Credit Union in Texas. He remained at 1st University for three decades. Under Parker’s leadership, the credit union thrived.
Parker's influence earned him acclaim as a selfless servant, visionary, and mentor within the credit union community. He was elected to serve on the chapter level and regionally on the boards of the state credit union leagues. He co-founded Cornerstone’s Southwest Lending and Collections Conference and had such an impact that a young professional’s scholarship was created in his name so young leaders could attend the conference at a low cost.
“Gary Parker is a beloved leader whose legacy will impact leaders for many years, thanks to his dedication to the credit union movement,” said Caroline Willard, president/CEO of Cornerstone League. “We at Cornerstone are honored to induct Gary into the 2024 Hall of Fame.”
Nationally, he served on America’s Credit Unions (then Credit Union National Association) Small Credit Union Committee and on a National Credit Union Administration panel exploring corporate credit unions. His guidance led to impactful policy changes, strengthening corporate credit unions. His accomplishments over his career earned him recognition as Credit Union Management School’s Alumnus of the Year, nearly four decades after he graduated.
Parker retired from 1st University in 2023.
About the Hall of Fame
Nominees are selected for their service within their own credit union and for achievements that have benefited many credit unions. Hall of Fame inductees have been key players in organizing and running credit unions and contributed to the movement on a local, regional, national, and/or international level.
Members elect Board Members at the 68th Annual meeting of the membership
WACO, Texas, March 26, 2024 — The membership of 1st University Credit Union elected two current members of the Board of Directors to new terms at the 2024 Annual Meeting. The Board members are:
Stan Denman who has been a member of the credit union since 1997. Stan will serve his second two-year term. He currently serves on the Personnel Committee. In 1991, Stan began his Baylor University career in the Department of Theatre Arts.
Pearl Beverly who will serve her second three-year term, having joined the Board of Directors in 2021. Pearl has been a member of the credit union since 1989. She has been working at Baylor University since 1988, and is currently part of the Department of Multicultural Affairs.
1st University Credit Union Strengthens Community Bonds through Partnership with Waco ISD Early Childhood Education Program
WACO, Texas, January 31, 2024 — 1st University Credit Union is pleased to announce its collaboration with Waco ISD Early Childhood Education through a community partnership. This partnership involves supporting the Parents as Teachers (PAT) program, a free parent education and family support initiative by Waco ISD.
The PAT program focuses on families with children from prenatal to school entry, offering a unique approach to early learning. Shelley Carlson, the executive vice president of marketing at 1st University CU, expressed the credit union's commitment to community wellness. “PAT's strategy, where education professionals collaborate with parents to ensure the optimal learning and growth of the youngest children, is what drew us to this partnership.”
Gwendolyn James, the director of Waco ISD Early Childhood, emphasized the program's role in helping parents understand child development. “The PAT program not only assesses each child's development but also supports parents in fulfilling their crucial role as the primary educators of their children. Additionally, the program connects families with essential resources to make informed choices for their well-being.”
Anita Henderson, lead parent educator, described the home visits as very rewarding, adding, “We are able to address challenges faced by parents, consider family dynamics and parenting values, and work to build strong protective factors for local families, fostering health, strength, and resilience.”
As part of its community partnership, 1st University Credit Union plans to collect books and other donated supplies, conduct financial wellness workshops, establish a savings program for participants, and provide volunteers for PAT's special events.
Kevin Hood, president and CEO of 1st University Credit Union, highlighted the credit union's alignment with a program designed to help children reach their full potential, bringing the initiative full circle for a credit union originally chartered to serve a university community.
About Waco ISD Parents as Teachers
Waco ISD Parents as Teachers supports parents and guardians in the understanding of child development and connects families to resources needed to make the best choices for their family. PAT offers personal visits customized for the needs of each family. Find out more on their website.
Waconized Federal Credit Union and 1st University Credit Union Announce Merger, Creating a Stronger Financial Institution
WACO, Texas, January 16, 2024 – Waconized Federal Credit Union and 1st University Credit Union are pleased to announce their merger, forming a unified and robust financial institution. The newly merged entity will operate under the name 1st University Credit Union.
Waconized Federal Credit Union was chartered in 1947 to serve the employees of the Owens-Illinois glass plant in Waco, Texas. On September 21, 2023 O-I Glass, Inc. announced it would be closing its Waco plant later that year.
Elizabeth Hamilton, manager and CEO of Waconized, said, “With the glass plant closing, the board of directors and I realized that merging with another credit union was in the best interests of our members. After speaking with several potential merger partners, we made the strategic decision to merge with 1st University.”
The merger brings together two well-established credit unions with a shared commitment to delivering exceptional financial services to their members. By combining resources, expertise, and a dedication to member satisfaction, 1st University Credit Union is poised to provide an even more comprehensive and competitive range of financial products and services.
Key benefits of the merger include:
Enhanced Financial Strength: The merger strengthens the financial position of the credit unions, allowing for stability and a solid foundation for future growth.
Expanded Service Offerings: Former WFCU Members will benefit from an expanded array of financial products and services, including savings and checking accounts, loans, and innovative digital and mobile banking solutions.
Greater Convenience: With an increased network of branches and ATMs through the Co-op Shared Branch and ATM networks, members will enjoy improved accessibility and convenience for their banking needs.
Commitment to Community: 1st University Credit Union remains dedicated to supporting the communities it serves, with a continued focus on community involvement, financial education, and philanthropy.
Hamilton added, "This merger marks an exciting chapter for our credit union and our members. By joining forces with 1st University Credit Union, we are creating a stronger and more resilient financial institution that is better equipped to meet the evolving needs of our members."
"We are thrilled to welcome the members of Waconized Federal Credit Union into the 1st University Credit Union family,” stated Kevin Hood, CEO and President of 1st University Credit Union. “This merger is a testament to our shared commitment to delivering exceptional value and service to our members, and we look forward to a bright future together."
Colleging Announces New Product Launch with 1st University Credit Union
GALVESTON, TX, January 9, 2024 — Colleging announced today it launched a custom education suite of products for 1st University Credit Union of Waco, Texas and its members. Colleging leverages its proprietary technology and industry experience to create products as individual as each credit union.
“Colleging believes in the transformative power of education,” said Tim Kulesha, COO at Colleging. “Our education offerings are designed to support the entire educational journey, making dreams of higher learning a reality.”
“It is important to us that we offer student loans because it reinforces our commitment to education accessibility,” said Kevin Hood, president and CEO. “Providing affordable financing options through our partnership with Colleging is one way 1st University Credit Union contributes to empowering students as they pursue higher education. Additionally, offering student loans enhances our role in community development and strengthens our relationship with members, positioning us as a valuable financial partner throughout various life stages.” Shelley Carlson, EVP of Marketing and Relationship Management added, “Having been chartered to serve the Baylor University community, our heritage is steeped in promoting education and contributing to the academic success of our members. Partnering with Colleging aligns with our focus on education-related financial services, as it allows us to meet the specific needs of students and their families.”
Kevin Hood Named CEO at 1st University Credit Union
WACO, Texas, January 8, 2024 – Kevin Hood, a 24-year credit union industry veteran, has been named CEO of 1st University Credit Union.
Hood, who began his career in 1999 as a teller at 1st University and was most recently Executive Vice President there, succeeds Gary Parker, the longtime CEO who retired at the end of 2023. Parker had served the credit union for 27 years.
Hood worked for Cornerstone Credit Union League as an information systems supervisor for several years, then spent 15 years with Cornerstone Resources, a service corporation for credit unions affiliated with the Cornerstone league. He was Executive VP at 1st University for two and a half years before stepping up to the CEO position.
“I have had the good fortune in my career to gain broad insight into how to guide credit unions with data-driven business decisions and compliance,” Hood said. “I appreciate this opportunity to lead 1st University into the future.”
Randy M. Wood, Chairman of the Board of 1st University, welcomed Hood into his new position. “I have known Kevin Hood since he started at the credit union and have been delighted to see his growth in knowledge and ability over the years,” Wood said. “That knowledge includes the latest in technology, which will allow us to continue to be on the cutting edge when it comes to giving our members the ability to manage their accounts in efficient ways.
Hood earned a bachelor’s degree in Business Administration from Baylor University. He is also a 2023 graduate of the Southwest CUNA Management School.
Gary Parker Retires from 1st University CU After 27 Years as President and CEO
WACO, Texas, January 2, 2024 – Gary Parker, who spent his entire half-century career in the credit union industry, has retired as president and CEO of 1st University Credit Union.
Parker retired at the end of 2023 after 27 years of leading 1st University. His successor will soon be named.
His prestigious credit union career began in 1975 when at 20 years old he became the youngest leader of a credit union in the state of Oklahoma, taking the helm at Bison Federal Credit Union in Shawnee. The small credit union was affiliated with Oklahoma Baptist University, and Parker had been a working volunteer for a while there when he was asked to step into the top position after his mentor’s death.
Parker spent nearly 14 years at Bison FCU, followed by several years at First Family Federal Credit Union in Henrietta, Oklahoma. In 1996 he was asked to fill in temporarily as head of Baylor University Employees Credit Union, which later became 1st University. That temporary role turned into a permanent, 27-year position.
“With Gary as president and CEO, 1st University has grown enormously and has become a leader in the community,” said Randy Wood, chairman of the credit union’s board of directors. “Gary always kept the ship moving forward and we will miss him tremendously.”
Parker has been recognized for several major achievements over the course of his career. He founded the popular Lending and Collections Conference, managed annually by Cornerstone Credit Union League, and served for many years on the league’s Lending and Collections Council Executive Committee. In 2021 the Lending and Collections Council established an annual scholarship for the conference in Parker’s name.
He served on the board of directors of the Texas Credit Union League. His knowledge and expertise in that area led to him being asked by NCUA, the National Credit Union Administration, to be part of a panel addressing the future of corporate credit unions following the collapse of the corporate system in 2009.
In addition, Parker was named Alumnus of the Year in 2018 for the CUNA (Credit Union National Association) management school for his contributions to the industry since his graduation in 1980 from the management school. Parker was also chairman of a CUNA Council for small credit unions, which led to his participation in a U.S. Treasury panel focused on credit union legislation during the Trump administration. He also won the Cornerstone League’s Achiever’s Award in 2005 in recognition of his efforts assisting and mentoring other credit unions.
Parker’s retirement goals include travel, particularly to all the national parks in the U.S.
1st University credit union elects slate of board directors
Waco, TX, March 28, 2023 — 1st University Credit Union held its Annual Meeting of the Membership on March 27. Elections were held for three Director seats, and the following members were elected:
Randy Wood has been teaching at Baylor University for 38 years, and is currently the Professor Emeritus, Curriculum and Instruction and Visiting Scholar, Global Engagement. He has served as the Board Chairman for the past two years.
Kevin Robinson is the Director of Athletic Medicine for Track & Field and Softball at Baylor University. He has been with BU for 20 years and has been a member of 1st University Credit Union for that entire time. He joined the Board of Directors five years ago and has served as the vice chairman for the past year.
Jorge E. Vielledent has been with Baylor for 7 years in various roles working with First in Line within the Paul L. Foster Success Center; The Academy for Leadership Development; and Center for Global Engagement. Currently he is the Financial Manager for Academic Affairs under the Office of the Provost.
Links for Baylor students, faculty, and staff
We are excited to have everyone back on campus! We wish you all the best throughout the 2023–2024 school year.
1st University Credit Union Community Involvement
1st University Credit Union takes pride in serving the community around us and drawing attention to products or services that may benefit our members. Below you will find information on those events and/or products.
Each year, our employees participate in a number of community and fundraising events. Some of the organizations 1st University Credit Union supports include:
Meals on Wheels - Senior Ministry
In addition to helping other organizations, supports Baylor and other community events throughout the year.
Baylor University Welcome Week
Baylor Alumni Association Senior Send-off