Capital Federal Credit Union opens in Lubbock to serve underserved communities


LUBBOCK, Texas (KCBD) – The grand opening for Capital Federal Credit Union is scheduled to happen at 3 p.m. today at 4210 50th Street. The vision is to serve Lubbock’s underserved communities.

Royce and Linda Lewis, owners of Capital Mortgage Services, saw a problem with many of their employees. They wanted to pay their employees directly into their bank accounts. They said many of their more than 130 employees – many Hispanic – didn’t have bank accounts.

“Many of them were afraid of banks – afraid of establishment institutions. Some had had problems before with charges and were afraid they wouldn’t be able to keep enough in the account to keep them from getting substantial service charges,” said Royce Lewis.

Lewis, who started the company with his wife Linda in Lubbock in 1986 after a career in banking, knew that meant a lot of his employees didn’t have a way to save money, get loans, and other benefits of working with a financial institution.

So the Lewises and a few others started a credit union.

“The organizers of Capital Federal Credit Union had the vision of providing much-needed financial services to people of color and underserved communities within Texas,” said Todd M. Harper, chairman of the National Credit Union Administration, which chartered the new credit union.

“Providing greater access to fair and affordable financial products and services gives members a better foundation for building long-term financial security for themselves, their families and their communities,” said Harper.

Credit unions create fields of membership.

Capital Federal Credit Union’s first fields of membership are Capital Mortgage Services employees, the League of United Latin American Citizens (LULAC) – Lubbock Texas Council #263 and the Lubbock Boys and Girls Club.

“My reason for getting involved was to have our organization have the means to get mortgage loans, personal checking, savings accounts, auto financing,” said Sam Gonzales, LULAC Council president.

The credit union also wants to offer personal loans, online banking, mobile banking and debit cards, said Mike Hensley, president/CEO of Capital Federal Credit Union.

“Our members won’t have to go through all the hoops they might have to at another financial institution,” said Hensley, who had a long career in the banking industry.

Capital Federal Credit Union was the third credit union approved in the country in 2021 when it was chartered in October.