Company Info

History of SharePlus Federal Bank

SharePlus Federal Bank became a mutual savings bank on October 1, 2004, after growing as a credit union for nearly 50 years. On July 23, 2004, the credit union membership voted to change the charter and become a bank, thus allowing SharePlus Federal Bank to open it’s doors to the public and provide increased growth opportunities.

SharePlus Federal Bank organized in August 1958, in Dallas, Texas, under the name Frito Employees Federal Credit Union. In 1961, the Frito Company merged with the W. H. Lay Company to form Frito-Lay, Inc. In 1965, Frito-Lay, Inc. merged with Pepsi Cola to form PepsiCo, Inc. With these mergers, the Credit Union's field of membership expanded and the Credit Union began to prosper. In June 1978, Frito Employees Federal Credit Union merged with Frito Midwest Credit Union. At this point, the Credit Union had grown to $10,500,426 in assets and had 10,157 members.

In January 1980, the field of membership was expanded to allow Pepsi in Orlando, Florida, and the Grandma Foods Co. into the field of membership. This was the year share drafts were added to the services. By 1985, the Credit Union had 14,280 members and $23,691,890 in assets. In 1986, Frito Employees Federal Credit Union merged with Lays Employees Savings and Loan to form Frito-Lay Federal Credit Union. By the late 80's, the evolution of the Credit Union and its industry had taken on dramatic change. Assets had grown to $36,000,000 with 18,000 members. Mortgage loans were added to the Credit union's menu of products and services.

The 90's brought scope expansions to various PepsiCo divisions including Pepsi Cola South, PFS, KFC, Pizza Hut, Inc., Tricon (now YUM! Brands, Inc.), and Taco Bell Corp. The Credit Union main office was relocated to North Dallas in April 1991. With long range plans of continued PepsiCo division scope expansion, the Frito-Lay name was determined non-representative. In October 1993, with membership in excess of 20,000 and assets of $71,000,000, the official name change to SharePlus Federal Credit Union was announced.

In 1998 SharePlus Federal Credit Union celebrated forty years of serving members. With eight locations, including a branch office in all of the sponsor company headquarters locations and a full menu of products and services, SharePlus Federal Credit Union reached $100,000,000 in assets. In January 1999, SharePlus Federal Credit Union opened its seventh branch office in the Taco Bell Headquarters Restaurant Support Center located in Irvine, California.

In the fall of 2000 the Board of Directors announced plans for the construction of a new Headquarters Office in Plano, Texas. In December 2000, ground was broken for our new Headquarters Office at 5224 West Plano Parkway.

In 2002, construction was completed on the new Headquarters Office. In January 2003, after eleven years in Dallas, SharePlus Federal Credit Union made the move to the new building located at 5224 W. Plano Parkway, Plano, Texas 75093-5005.

In the summer of 2003, SharePlus opened a new branch at the PepsiCo Parkwood facility in North Plano. As a result of this growth, SharePlus Federal Bank now provides eight branches, in addition to our Plano Main Office, to serve our customers from coast-to-coast.

In 2007, SharePlus opened a new, state-of-the-art facility in uptown Dallas at Maple and Oak Lawn. The new branch offers drive up lanes with one being dedicated to commercial customers, as well as a drive up ATM and night deposit.

Additionally in 2007, SharePlus opened a new division for investors: SharePlus Financial Services. Financial Advisor Bill Marley joined the division and brings over 10 years experience helping investors build their portfolios.

Before becoming a mutual savings bank, SharePlus Federal served the employees and family members of Frito-Lay, Inc., YUM! Brands, Inc., A&W Restaurants, Inc., KFC Corporation, Long John Silvers, Inc., Pizza Hut, Inc., Taco Bell Corp., and various PepsiCo Divisions, as well a dozens of companies who provided credit union benefit to their employees.

We appreciate the opportunity to be your bank. For additional information on banking with SharePlus please contact our Customer Service Center at 1-800-352-8257 or (972) 931-5311.